Heico (NYSE:HEI) Sets New 12-Month High - Should You Buy?

Heico Corporation (NYSE:HEI - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $319.86 and last traded at $319.64, with a volume of 466913 shares. The stock had previously closed at $315.52.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HEI. Barclays set a $280.00 price objective on Heico and gave the company an "equal weight" rating in a report on Monday, June 2nd. Stifel Nicolaus started coverage on Heico in a research note on Tuesday. They issued a "buy" rating and a $352.00 price target for the company. Truist Financial reduced their price objective on shares of Heico from $294.00 to $277.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Morgan Stanley raised their target price on shares of Heico from $270.00 to $305.00 and gave the company an "equal weight" rating in a report on Wednesday, June 4th. Finally, William Blair reaffirmed an "outperform" rating on shares of Heico in a report on Tuesday, March 25th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $286.00.

Heico Stock Down 0.2%

The firm's fifty day moving average is $278.24 and its 200-day moving average is $256.27. The company has a market capitalization of $44.08 billion, a P/E ratio of 74.05, a price-to-earnings-growth ratio of 4.06 and a beta of 1.07. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.56 and a current ratio of 3.43.

Heico (NYSE:HEI - Get Free Report) last announced its quarterly earnings results 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 net margin of 14.54% and a return on equity of 15.88%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business earned $0.88 earnings per share. The company's revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, equities research analysts predict that Heico Corporation will post 4.2 EPS for the current year.

Heico Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This is an increase from Heico's previous semi-annual dividend of $0.11. This represents a yield of 0.1%. Heico's dividend payout ratio (DPR) is currently 5.14%.

Insider Activity

In other news, Director Alan Schriesheim sold 50,000 shares of the firm's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $239.57, for a total transaction of $11,978,500.00. Following the completion of the transaction, the director now owns 157,197 shares of the company's stock, valued at approximately $37,659,685.29. This trade represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank J. Schwitter sold 356 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was 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 of the company's stock, valued at approximately $448,650. This represents a 19.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,056 shares of company stock valued at $22,699,941. 9.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Heico

Hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its holdings in Heico by 216.7% in the first quarter. Acadian Asset Management LLC now owns 1,381 shares of the aerospace company's stock valued at $368,000 after acquiring an additional 945 shares during the last quarter. Interval Partners LP bought a new stake in shares of Heico in the 1st quarter valued at $3,127,000. Banque Transatlantique SA boosted its stake in shares of Heico by 36.8% in the 1st quarter. Banque Transatlantique SA now owns 253 shares of the aerospace company's stock valued at $62,000 after purchasing an additional 68 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Heico by 1.3% during the first quarter. Advisors Asset Management Inc. now owns 20,517 shares of the aerospace company's stock worth $5,482,000 after buying an additional 259 shares during the period. Finally, PDT Partners LLC raised its stake in Heico by 781.9% during the first quarter. PDT Partners LLC now owns 25,576 shares of the aerospace company's stock worth $6,834,000 after buying an additional 22,676 shares during the last quarter. 27.12% of the stock is currently owned by institutional investors.

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.