Heico Corporation (NYSE:HEI) Chairman Sells $17,985,035.00 in Stock

Heico Corporation (NYSE:HEI - Get Free Report) Chairman Laurans A. Mendelson sold 56,300 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $319.45, for a total value of $17,985,035.00. Following the transaction, the chairman owned 1,253,127 shares of the company's stock, valued at approximately $400,311,420.15. The trade was a 4.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Heico Stock Performance

Shares of NYSE:HEI traded down $1.02 during midday trading on Monday, reaching $321.43. The company's stock had a trading volume of 158,938 shares, compared to its average volume of 481,304. The firm has a market capitalization of $44.71 billion, a PE ratio of 75.18, a P/E/G ratio of 4.02 and a beta of 1.08. Heico Corporation has a twelve month low of $216.68 and a twelve month high of $328.64. The stock has a fifty day moving average of $302.74 and a 200 day moving average of $265.77. The company has a quick ratio of 1.56, a current ratio of 3.43 and a debt-to-equity ratio of 0.56.

Heico (NYSE:HEI - Get Free Report) last issued its 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. Heico had a return on equity of 15.88% and a net margin of 14.54%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. The company's revenue was up 14.9% compared to the same quarter last year. On average, equities analysts expect that Heico Corporation will post 4.2 EPS for the current fiscal year.

Heico Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were paid a $0.12 dividend. This is an increase from Heico's previous semi-annual dividend of $0.11. The ex-dividend date was Tuesday, July 1st. This represents a dividend yield of 0.1%. Heico's dividend payout ratio is presently 5.61%.

Analyst Ratings Changes

Several research firms have recently commented on HEI. 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. Wall Street Zen lowered Heico from a "buy" rating to a "hold" rating in a research report on Friday. Truist Financial upped their target price on Heico from $323.00 to $352.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Stifel Nicolaus set a $352.00 target price on Heico and gave the company a "buy" rating in a research report on Tuesday, June 24th. Finally, William Blair reaffirmed an "outperform" rating on shares of Heico in a research report on Tuesday, March 25th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $301.45.

Institutional Investors Weigh In On Heico

Institutional investors have recently modified their holdings of the business. Artemis Investment Management LLP purchased a new position in Heico during the first quarter worth approximately $7,612,000. EntryPoint Capital LLC purchased a new position in Heico during the fourth quarter worth approximately $220,000. Praxis Investment Management Inc. boosted its position in Heico by 24.9% during the first quarter. Praxis Investment Management Inc. now owns 8,830 shares of the aerospace company's stock worth $2,359,000 after purchasing an additional 1,760 shares in the last quarter. Freedom Day Solutions LLC purchased a new position in Heico during the first quarter worth approximately $2,653,000. Finally, Vantage Investment Partners LLC boosted its position in Heico by 1.1% during the first quarter. Vantage Investment Partners LLC now owns 162,145 shares of the aerospace company's stock worth $43,324,000 after purchasing an additional 1,772 shares in the last quarter. 27.12% of the stock is currently owned by institutional investors and hedge funds.

About Heico

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.