Morgan Stanley Issues Positive Forecast for Heico (NYSE:HEI) Stock Price

Heico (NYSE:HEI - Free Report) had its price objective upped by Morgan Stanley from $305.00 to $330.00 in a research report released on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the aerospace company's stock.

Several other brokerages also recently weighed in on HEI. William Blair reaffirmed an "outperform" rating on shares of Heico in a report on Tuesday, March 25th. Wells Fargo & Company lifted their price objective on shares of Heico from $244.00 to $278.00 and gave the company an "equal weight" rating in a research report on Friday, May 30th. Wall Street Zen upgraded shares of Heico from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Truist Financial lifted their price objective on shares of Heico from $323.00 to $352.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Barclays set a $280.00 price target on shares of Heico and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $301.45.

Heico Stock Up 0.4%

NYSE:HEI traded up $1.43 on Thursday, reaching $322.47. 329,663 shares of the stock traded hands, compared to its average volume of 482,574. The company's fifty day simple moving average is $302.74 and its 200 day simple moving average is $265.77. Heico has a 12 month low of $216.68 and a 12 month high of $328.64. The company has a market capitalization of $44.86 billion, a price-to-earnings ratio of 75.34, a PEG ratio of 4.02 and a beta of 1.08. The company has a current ratio of 3.43, a quick ratio of 1.56 and a debt-to-equity ratio of 0.56.

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

Heico Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a $0.12 dividend. The ex-dividend date was Tuesday, July 1st. This is a positive change from Heico's previous semi-annual dividend of $0.11. This represents a yield of 0.1%. Heico's dividend payout ratio is 5.61%.

Insider Activity

In other news, 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 transaction, the director owned 122,197 shares in the company, valued at $36,458,696.92. This represents a 22.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Laurans A. Mendelson sold 56,300 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $319.45, for a total transaction of $17,985,035.00. Following the transaction, the chairman owned 1,253,127 shares in the company, valued at approximately $400,311,420.15. This trade represents a 4.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 142,356 shares of company stock valued at $40,684,976. Corporate insiders own 9.55% of the company's stock.

Hedge Funds Weigh In On Heico

Several institutional investors have recently made changes to their positions in HEI. Ridgewood Investments LLC lifted its holdings in Heico by 92.0% in 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 in the last quarter. NBC Securities Inc. purchased a new position in shares of Heico during the 1st quarter worth $27,000. Costello Asset Management INC acquired a new stake in shares of Heico during the 1st quarter worth about $27,000. Banque Transatlantique SA acquired a new stake in shares of Heico during the 4th quarter worth about $44,000. Finally, Caitong International Asset Management Co. Ltd increased its position 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 worth $48,000 after purchasing an additional 178 shares during the last quarter. 27.12% of the stock is owned by hedge funds and other 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.