Heico (NYSE:HEI) Reaches New 52-Week High - Here's Why

Heico Corporation (NYSE:HEI - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $326.98 and last traded at $326.61, with a volume of 16139 shares traded. The stock had previously closed at $325.73.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wall Street Zen upgraded Heico from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Morgan Stanley increased their price objective on shares of Heico from $270.00 to $305.00 and gave the stock an "equal weight" rating in a research note on Wednesday, June 4th. Stifel Nicolaus set a $352.00 price target on shares of Heico and gave the stock a "buy" rating in a report on Tuesday, June 24th. William Blair reissued an "outperform" rating on shares of Heico in a research note on Tuesday, March 25th. Finally, Barclays set a $280.00 price target on Heico and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Heico currently has an average rating of "Moderate Buy" and a consensus price target of $292.36.

Heico Stock Performance

The company has a market capitalization of $45.16 billion, a price-to-earnings ratio of 75.86, a PEG ratio of 4.04 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.43 and a quick ratio of 1.56. The company's 50-day moving average price is $287.77 and its two-hundred day moving average price is $259.00.

Heico (NYSE:HEI - Get Free Report) last released its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.09. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Heico had a net margin of 14.54% and a return on equity of 15.88%. Heico's quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 EPS. On average, equities research analysts anticipate that Heico Corporation will post 4.2 EPS for the current fiscal year.

Heico Increases Dividend

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

Insider Buying and Selling at Heico

In other Heico news, Director Frank J. Schwitter sold 356 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $299.10, for a total value of $106,479.60. Following the completion of the sale, the director owned 1,500 shares in the company, valued at approximately $448,650. This trade represents a 19.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Julie Neitzel sold 700 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $246.23, for a total value of $172,361.00. Following the completion of the transaction, the director owned 418 shares in the company, valued at $102,924.14. The trade was a 62.61% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,056 shares of company stock worth $22,699,941. Corporate insiders own 9.55% of the company's stock.

Institutional Trading of Heico

Hedge funds have recently bought and sold shares of the company. Ridgewood Investments LLC increased its holdings in shares of 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 buying an additional 46 shares during the period. Costello Asset Management INC bought a new position in Heico in the 1st quarter worth $27,000. NBC Securities Inc. bought a new stake in shares of Heico during the 1st quarter valued at about $27,000. Caitong International Asset Management Co. Ltd increased its position in shares of Heico by 17,800.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company's stock valued at $48,000 after buying an additional 178 shares during the period. Finally, Banque Transatlantique SA bought a new position in Heico in the fourth quarter worth about $44,000. Institutional investors 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.