Heico (NYSE:HEI) Given New $375.00 Price Target at UBS Group

Key Points

• UBS Group has raised its price target for Heico from $346.00 to $375.00, indicating a potential upside of 14.53% from the current stock price, while maintaining a "neutral" rating.
• Heico reported earnings of $1.26 per share for the last quarter, surpassing estimates, with revenue of $1.15 billion, which represents a 15.7% increase year-over-year.
• Multiple analysts have recently upgraded their ratings on Heico stock, with a consensus rating of "Moderate Buy" and a target price averaging $322.50.

Heico (NYSE:HEI - Free Report) had its price target boosted by UBS Group from $346.00 to $375.00 in a research report sent to investors on Wednesday, Marketbeat Ratings reports. They currently have a neutral rating on the aerospace company's stock.

HEI has been the topic of a number of other research reports. Royal Bank Of Canada upped their target price on Heico from $315.00 to $335.00 and gave the company an "outperform" rating in a research note on Friday, August 22nd. Jefferies Financial Group reaffirmed a "buy" rating on shares of Heico in a research report on Monday, August 18th. Stifel Nicolaus set a $360.00 price target on Heico in a research report on Tuesday, August 26th. Bank of America boosted their price target on Heico from $320.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Finally, Zacks Research upgraded Heico to a "hold" rating in a research note on Monday, August 11th. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $340.18.

Heico Stock Performance

NYSE HEI traded down $5.88 on Wednesday, hitting $312.19. 427,040 shares of the company's stock were exchanged, compared to its average volume of 508,097. The firm has a market cap of $43.43 billion, a price-to-earnings ratio of 68.31, a P/E/G ratio of 3.85 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.35 and a quick ratio of 1.51. The firm's 50-day moving average price is $318.36 and its two-hundred day moving average price is $283.31. Heico has a fifty-two week low of $216.68 and a fifty-two week high of $338.92.

Heico (NYSE:HEI - Get Free Report) last released its quarterly earnings results on Monday, August 25th. The aerospace company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.14. The business had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.11 billion. Heico had a return on equity of 16.29% and a net margin of 14.96%.The company's revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.97 EPS. On average, research analysts expect that Heico will post 4.2 EPS for the current year.

Heico Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This is a positive change from Heico's previous semi-annual dividend of $0.11. This represents a yield of 10.0%. Heico's dividend payout ratio is presently 5.25%.

Insiders Place Their Bets

In other Heico news, Director Alan Schriesheim sold 35,000 shares of Heico stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $298.36, for a total value of $10,442,600.00. Following the transaction, the director owned 122,197 shares in the company, valued at approximately $36,458,696.92. The trade was a 22.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Laurans A. Mendelson sold 56,300 shares of Heico stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total transaction of $17,985,035.00. Following the completion of the transaction, the chairman owned 1,253,127 shares in the company, valued at approximately $400,311,420.15. This trade represents a 4.30% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,656 shares of company stock worth $28,534,115. 9.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Heico

A number of institutional investors have recently modified their holdings of the stock. American Century Companies Inc. boosted its stake in shares of Heico by 68.9% during the 2nd quarter. American Century Companies Inc. now owns 528,145 shares of the aerospace company's stock valued at $173,232,000 after buying an additional 215,530 shares during the period. Bain Capital Public Equity Management II LLC acquired a new position in Heico during the 4th quarter worth $110,503,000. EULAV Asset Management lifted its position in Heico by 1.8% during the 1st quarter. EULAV Asset Management now owns 461,693 shares of the aerospace company's stock worth $123,360,000 after acquiring an additional 8,000 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Heico by 2.3% during the fourth quarter. Two Sigma Advisers LP now owns 371,178 shares of the aerospace company's stock valued at $88,244,000 after buying an additional 8,300 shares during the last quarter. Finally, Congress Asset Management Co. raised its position in shares of Heico by 366.0% during the second quarter. Congress Asset Management Co. now owns 308,457 shares of the aerospace company's stock valued at $101,174,000 after buying an additional 242,264 shares during the last quarter. Institutional investors and hedge funds own 27.12% of the company's stock.

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.