HEICO Co. (NYSE:HEI) Receives $236.89 Average Price Target from Brokerages

HEICO Co. (NYSE:HEI) has been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $236.89.

A number of analysts have commented on the stock. Robert W. Baird boosted their price target on shares of HEICO from $223.00 to $243.00 and gave the company an “outperform” rating in a research note on Thursday, May 30th. Royal Bank of Canada upped their target price on shares of HEICO from $235.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Bank of America lifted their price target on HEICO from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Truist Financial increased their price objective on HEICO from $240.00 to $248.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Stifel Nicolaus lifted their target price on HEICO from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, May 6th.

HEICO Price Performance

Shares of NYSE HEI opened at $230.76 on Friday. The firm has a market capitalization of $31.96 billion, a P/E ratio of 72.57, a P/E/G ratio of 3.38 and a beta of 1.20. The firm’s 50-day moving average price is $224.02 and its 200-day moving average price is $203.00. The company has a current ratio of 3.52, a quick ratio of 1.57 and a debt-to-equity ratio of 0.69. HEICO has a 1-year low of $155.42 and a 1-year high of $233.99.

HEICO (NYSE:HEI) last announced its quarterly earnings results on Tuesday, May 28th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.08. HEICO had a return on equity of 14.26% and a net margin of 12.62%. The business had revenue of $955.40 million for the quarter, compared to analyst estimates of $951.24 million. During the same quarter in the prior year, the company earned $0.76 earnings per share. The company’s quarterly revenue was up 38.9% on a year-over-year basis. Equities research analysts anticipate that HEICO will post 3.57 earnings per share for the current fiscal year.

HEICO Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were given a $0.11 dividend. The ex-dividend date was Monday, July 1st. This represents a yield of 0.1%. This is a boost from HEICO’s previous Semi-Annual dividend of $0.07. HEICO’s payout ratio is currently 6.92%.

Insider Activity

In related news, insider Eric A. Mendelson sold 2,832 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $180.06, for a total value of $509,929.92. Following the transaction, the insider now directly owns 246,060 shares of the company’s stock, valued at approximately $44,305,563.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Eric A. Mendelson sold 2,832 shares of HEICO stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $180.06, for a total value of $509,929.92. Following the sale, the insider now owns 246,060 shares of the company’s stock, valued at approximately $44,305,563.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric A. Mendelson sold 53,510 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $182.02, for a total value of $9,739,890.20. Following the transaction, the insider now directly owns 168,891 shares of the company’s stock, valued at $30,741,539.82. The disclosure for this sale can be found here. Insiders sold a total of 65,206 shares of company stock valued at $11,850,127 in the last ninety days. 8.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HEICO

Institutional investors have recently added to or reduced their stakes in the business. Zeno Equity Partners LLP bought a new stake in shares of HEICO in the fourth quarter valued at approximately $25,000. Center for Financial Planning Inc. purchased a new stake in shares of HEICO during the second quarter worth $52,000. American National Bank bought a new position in shares of HEICO in the second quarter worth $66,000. Psagot Value Holdings Ltd. Israel purchased a new position in shares of HEICO in the fourth quarter valued at $70,000. Finally, FSC Wealth Advisors LLC bought a new stake in shares of HEICO during the 2nd quarter valued at $73,000. 27.12% of the stock is owned by hedge funds and other institutional investors.

HEICO Company Profile

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. Its Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.