Heico (NYSE:HEI) Sets New 1-Year High - Should You Buy?

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

Analysts Set New Price Targets

Several research firms have issued reports on HEI. Truist Financial dropped their price target on Heico from $294.00 to $277.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. William Blair reissued an "outperform" rating on shares of Heico in a research note on Tuesday, March 25th. Barclays set a $280.00 target price on shares of Heico and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Morgan Stanley boosted their target price on shares of Heico from $270.00 to $305.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 4th. Finally, Wells Fargo & Company boosted their target price on shares of Heico from $244.00 to $278.00 and gave the company an "equal weight" rating in a research note on Friday, May 30th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Heico currently has an average rating of "Moderate Buy" and an average target price of $279.45.

Heico Price Performance

The company has a quick ratio of 1.56, a current ratio of 3.43 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $43.88 billion, a price-to-earnings ratio of 73.71, a P/E/G ratio of 4.01 and a beta of 1.07. The stock's 50 day moving average price is $275.57 and its two-hundred day moving average price is $255.54.

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

Heico Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This is a boost from Heico's previous semi-annual dividend of $0.11. This represents a yield of 0.1%. Heico's dividend payout ratio is currently 5.14%.

Insider Buying and Selling

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 transaction of $106,479.60. Following the completion of the sale, the director now directly owns 1,500 shares in the company, valued at $448,650. This represents a 19.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan Schriesheim sold 35,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $298.36, for a total transaction of $10,442,600.00. Following the sale, the director now owns 122,197 shares of the company's stock, valued at $36,458,696.92. This trade represents a 22.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,056 shares of company stock worth $22,699,941. Corporate insiders own 9.55% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Ridgewood Investments LLC raised its position 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 purchasing an additional 46 shares in the last quarter. Costello Asset Management INC acquired a new position in Heico in the first quarter worth about $27,000. NBC Securities Inc. acquired a new position in Heico in the first quarter worth about $27,000. Caitong International Asset Management Co. Ltd raised its position in Heico by 17,800.0% in the first 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 in the last quarter. Finally, Banque Transatlantique SA acquired a new position in Heico in the fourth quarter worth about $44,000. Institutional investors and hedge funds own 27.12% of the company's stock.

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.