Eric A. Mendelson Sells 20,000 Shares of HEICO Co. (NYSE:HEI) Stock

HEICO Co. (NYSE:HEI) insider Eric A. Mendelson sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $186.09, for a total transaction of $3,721,800.00. Following the completion of the sale, the insider now owns 148,891 shares in the company, valued at approximately $27,707,126.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

HEICO Stock Up 1.5 %

HEI traded up $3.50 during midday trading on Friday, hitting $234.26. The company had a trading volume of 258,067 shares, compared to its average volume of 382,254. HEICO Co. has a 52 week low of $155.42 and a 52 week high of $237.45. The company has a quick ratio of 1.57, a current ratio of 3.52 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $32.45 billion, a price-to-earnings ratio of 72.57, a PEG ratio of 3.32 and a beta of 1.20. The stock’s 50 day moving average price is $224.02 and its 200 day moving average price is $203.00.

HEICO (NYSE:HEI) last posted its quarterly earnings results on Tuesday, May 28th. The aerospace company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.08. HEICO had a net margin of 12.62% and a return on equity of 14.26%. The firm had revenue of $955.40 million during the quarter, compared to the consensus estimate of $951.24 million. During the same period in the previous year, the firm posted $0.76 earnings per share. The business’s revenue was up 38.9% compared to the same quarter last year. On average, research analysts anticipate that HEICO Co. will post 3.57 earnings per share for the current fiscal year.

HEICO Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were issued a dividend of $0.11 per share. This is a boost from HEICO’s previous Semi-Annual dividend of $0.07. This represents a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, July 1st. HEICO’s dividend payout ratio (DPR) is currently 6.92%.

Wall Street Analysts Forecast Growth

HEI has been the topic of a number of research analyst reports. Benchmark raised their target price on shares of HEICO from $185.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Royal Bank of Canada raised their price target on shares of HEICO from $235.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, May 30th. Bank of America raised their price target on shares of HEICO from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Deutsche Bank Aktiengesellschaft raised their price target on shares of HEICO from $209.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Finally, Stifel Nicolaus raised their price target on shares of HEICO from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, HEICO has a consensus rating of “Moderate Buy” and an average target price of $236.89.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Capital World Investors grew its holdings in shares of HEICO by 10.5% during the fourth quarter. Capital World Investors now owns 3,276,326 shares of the aerospace company’s stock valued at $586,036,000 after buying an additional 311,304 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of HEICO by 8.3% during the fourth quarter. Federated Hermes Inc. now owns 567,103 shares of the aerospace company’s stock valued at $101,438,000 after buying an additional 43,509 shares during the last quarter. EULAV Asset Management grew its holdings in shares of HEICO by 23.4% during the first quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock valued at $67,250,000 after buying an additional 66,800 shares during the last quarter. TCW Group Inc. grew its holdings in shares of HEICO by 3.0% during the second quarter. TCW Group Inc. now owns 200,008 shares of the aerospace company’s stock valued at $44,724,000 after buying an additional 5,779 shares during the last quarter. Finally, Zeno Equity Partners LLP grew its holdings in shares of HEICO by 154.3% during the first quarter. Zeno Equity Partners LLP now owns 161,570 shares of the aerospace company’s stock valued at $30,860,000 after buying an additional 98,033 shares during the last quarter. 27.12% of the stock is currently owned by institutional investors and hedge funds.

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.