Heico Corporation (NYSE:HEI - Get Free Report) Chairman Laurans A. Mendelson sold 56,300 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $319.45, for a total transaction of $17,985,035.00. Following the transaction, the chairman owned 1,253,127 shares in the company, valued at $400,311,420.15. This trade represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Heico Price Performance
Shares of NYSE:HEI traded up $1.54 during trading on Thursday, reaching $321.24. The company had a trading volume of 139,933 shares, compared to its average volume of 481,073. The company has a current ratio of 3.43, a quick ratio of 1.56 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $44.68 billion, a P/E ratio of 75.17, a price-to-earnings-growth ratio of 3.96 and a beta of 1.08. The company has a fifty day moving average of $300.51 and a two-hundred day moving average of $264.23. Heico Corporation has a 12 month low of $216.68 and a 12 month high of $328.64.
Heico (NYSE:HEI - Get Free Report) last announced its quarterly earnings results on Tuesday, May 27th. The aerospace company reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.09. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.06 billion. Heico had a return on equity of 15.88% and a net margin of 14.54%. The business's quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. Equities research analysts forecast that Heico Corporation will post 4.2 earnings per share for the current year.
Heico Increases Dividend
The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were issued a $0.12 dividend. The ex-dividend date was Tuesday, July 1st. This is a positive change from Heico's previous semi-annual dividend of $0.11. This represents a yield of 0.1%. Heico's dividend payout ratio (DPR) is 5.61%.
Hedge Funds Weigh In On Heico
A number of institutional investors have recently added to or reduced their stakes in HEI. Ridgewood Investments LLC boosted its holdings in Heico by 92.0% in the first quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company's stock worth $26,000 after acquiring an additional 46 shares in the last quarter. NBC Securities Inc. bought a new position in Heico during the first quarter valued at approximately $27,000. Costello Asset Management INC purchased a new stake in Heico during the 1st quarter valued at $27,000. Banque Transatlantique SA bought a new stake in shares of Heico in the fourth quarter worth $44,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Heico by 17,800.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company's stock worth $48,000 after purchasing an additional 178 shares during the period. Institutional investors own 27.12% of the company's stock.
Wall Street Analysts Forecast Growth
HEI has been the subject of several research analyst reports. Barclays set a $280.00 price target on shares of Heico and gave the company an "equal weight" rating in a research report on Monday, June 2nd. Stifel Nicolaus set a $352.00 price target on Heico and gave the company a "buy" rating in a research note on Tuesday, June 24th. Truist Financial raised their price target on shares of Heico from $323.00 to $352.00 and gave the company a "buy" rating in a report on Friday, July 11th. Bank of America increased their target price on shares of Heico from $320.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Finally, Wells Fargo & Company boosted their price target on Heico from $244.00 to $278.00 and gave the stock an "equal weight" rating in a research report on Friday, May 30th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Heico presently has an average rating of "Moderate Buy" and a consensus target price of $301.45.
Check Out Our Latest Stock Report on HEI
About Heico
(
Get Free Report)
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.
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