Heico (NYSE:HEI) Reaches New 1-Year High - Time to Buy?

Heico Corporation (NYSE:HEI - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $308.29 and last traded at $307.26, with a volume of 383783 shares trading hands. The stock had previously closed at $304.31.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HEI. UBS Group increased their target price on shares of Heico from $264.00 to $306.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. Wall Street Zen raised shares of Heico from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Truist Financial decreased their price objective on shares of Heico from $294.00 to $277.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company upped their target price on shares of Heico from $244.00 to $278.00 and gave the stock an "equal weight" rating in a report on Friday, May 30th. Finally, Barclays set a $280.00 price target on Heico and gave the company an "equal weight" rating in a report on Monday, June 2nd. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $279.45.

Heico Stock Up 1.3%

The business has a 50-day moving average of $271.88 and a 200 day moving average of $254.63. The company has a market capitalization of $43.26 billion, a PE ratio of 72.67, a P/E/G ratio of 3.88 and a beta of 1.07. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.43 and a quick ratio of 1.56.

Heico (NYSE:HEI - Get Free Report) last issued its quarterly earnings data on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.09. Heico had a return on equity of 15.88% and a net margin of 14.54%. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the prior year, the firm earned $0.88 EPS. The company's revenue for the quarter was up 14.9% on a year-over-year basis. Equities research analysts predict that Heico Corporation will post 4.2 earnings per share for the current year.

Heico Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.12 per share. This represents a dividend yield of 0.1%. This is a boost from Heico's previous semi-annual dividend of $0.11. The ex-dividend date of this dividend is Tuesday, July 1st. Heico's dividend payout ratio is currently 5.61%.

Insider Activity

In other Heico news, Director Frank J. Schwitter sold 356 shares of the company's 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 transaction, the director now directly owns 1,500 shares in the company, valued at $448,650. This represents a 19.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan Schriesheim sold 50,000 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $239.57, for a total value of $11,978,500.00. Following the completion of the transaction, the director now directly owns 157,197 shares in the company, valued at approximately $37,659,685.29. This trade represents a 24.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,056 shares of company stock valued at $22,699,941 in the last ninety days. Insiders own 9.55% of the company's stock.

Hedge Funds Weigh In On Heico

Institutional investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its holdings in Heico by 5.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 973 shares of the aerospace company's stock valued at $231,000 after buying an additional 46 shares during the period. Ridgewood Investments LLC raised 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 last quarter. Moran Wealth Management LLC lifted its stake in shares of Heico by 1.9% during the fourth quarter. Moran Wealth Management LLC now owns 2,687 shares of the aerospace company's stock worth $639,000 after buying an additional 51 shares during the period. United Capital Financial Advisors LLC lifted its position in Heico by 5.7% during the 4th quarter. United Capital Financial Advisors LLC now owns 1,043 shares of the aerospace company's stock worth $248,000 after acquiring an additional 56 shares during the period. Finally, Bradley Foster & Sargent Inc. CT lifted its holdings in shares of Heico by 2.4% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 2,805 shares of the aerospace company's stock worth $667,000 after purchasing an additional 67 shares during the period. Hedge funds and other 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.