HEICO (NYSE:HEI) Sets New 52-Week High Following Dividend Announcement

HEICO Co. (NYSE:HEI - Get Free Report) hit a new 52-week high during mid-day trading on Thursday following a dividend announcement from the company. The stock traded as high as $305.27 and last traded at $301.70, with a volume of 646635 shares. The stock had previously closed at $299.83.

The newly announced 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. 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 dividend yield of 0.1%. HEICO's dividend payout ratio is currently 5.61%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays set a $280.00 price target on HEICO and gave the company an "equal weight" rating in a research report on Monday, June 2nd. Wells Fargo & Company upped their price objective on shares of HEICO from $244.00 to $278.00 and gave the stock an "equal weight" rating in a research report on Friday, May 30th. Truist Financial reduced their price target 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. William Blair reiterated an "outperform" rating on shares of HEICO in a research report on Tuesday, March 25th. Finally, UBS Group increased their price objective on HEICO from $264.00 to $306.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $279.45.

HEICO Stock Performance

The business has a fifty day simple moving average of $269.48 and a 200-day simple moving average of $254.05. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.60. The firm has a market cap of $42.50 billion, a P/E ratio of 83.48, a P/E/G ratio of 3.10 and a beta of 1.07.

HEICO (NYSE:HEI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.09. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. HEICO had a return on equity of 14.63% and a net margin of 13.33%. The firm's quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 earnings per share. On average, sell-side analysts predict that HEICO Co. will post 4.2 EPS for the current fiscal year.

Insider Transactions at HEICO

In other news, Director Alan Schriesheim sold 35,000 shares of HEICO stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $298.36, for a total value of $10,442,600.00. Following the completion of the transaction, the director now owns 122,197 shares of the company's stock, valued at $36,458,696.92. The trade was a 22.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank J. Schwitter sold 356 shares of HEICO stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $299.10, for a total value of $106,479.60. Following the completion of the transaction, the director now directly owns 1,500 shares of the company's stock, valued at approximately $448,650. This represents a 19.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,056 shares of company stock valued at $22,699,941 in the last quarter. 9.55% of the stock is owned by insiders.

Institutional Investors Weigh In On HEICO

A number of large investors have recently made changes to their positions in HEI. Ridgewood Investments LLC grew its stake in shares of HEICO by 92.0% during the 1st quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company's stock valued at $26,000 after purchasing an additional 46 shares during the period. NBC Securities Inc. bought a new stake in shares of HEICO during the 1st quarter valued at about $27,000. Costello Asset Management INC bought a new stake in shares of HEICO during the 1st quarter valued at about $27,000. Banque Transatlantique SA bought a new stake in shares of HEICO during the 4th quarter valued at about $44,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of HEICO by 17,800.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company's stock valued at $48,000 after purchasing an additional 178 shares during the period. 27.12% of the stock is currently owned by institutional investors.

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.