HEICO (NYSE:HEI) Given New $264.00 Price Target at Truist Financial

HEICO (NYSE:HEI) had its price objective lifted by Truist Financial from $248.00 to $264.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the aerospace company’s stock.

Several other analysts have also recently weighed in on HEI. Bank of America lifted their price target on shares of HEICO from $220.00 to $250.00 and gave the company a buy rating in a report on Monday, June 24th. Barclays began coverage on shares of HEICO in a research report on Monday, August 19th. They set an equal weight rating and a $250.00 price target on the stock. Benchmark restated a buy rating and issued a $245.00 price objective on shares of HEICO in a report on Tuesday, August 27th. Stifel Nicolaus increased their target price on HEICO from $250.00 to $280.00 and gave the stock a buy rating in a research report on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on HEICO from $209.00 to $235.00 and gave the company a buy rating in a research report on Tuesday, May 21st. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, HEICO has an average rating of Moderate Buy and an average price target of $255.67.

HEICO Stock Performance

Shares of NYSE:HEI opened at $256.56 on Wednesday. The company has a current ratio of 3.52, a quick ratio of 1.57 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average price of $233.37 and a 200-day moving average price of $214.02. The company has a market cap of $35.53 billion, a price-to-earnings ratio of 80.68, a price-to-earnings-growth ratio of 3.53 and a beta of 1.20. HEICO has a 12 month low of $155.42 and a 12 month high of $259.04.

HEICO (NYSE:HEI) last released its quarterly earnings results on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. HEICO had a return on equity of 14.26% and a net margin of 12.62%. The business had revenue of $992.20 million during the quarter, compared to analyst estimates of $995.34 million. During the same quarter in the prior year, the company posted $0.77 EPS. HEICO’s quarterly revenue was up 37.3% compared to the same quarter last year. As a group, equities analysts anticipate that HEICO will post 3.57 EPS for the current year.

HEICO Increases Dividend

The business also recently declared 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. The ex-dividend date was Monday, July 1st. This is an increase from HEICO’s previous Semi-Annual dividend of $0.07. This represents a dividend yield of 0.1%. HEICO’s dividend payout ratio (DPR) is presently 6.92%.

Insiders Place Their Bets

In other news, insider Eric A. Mendelson sold 2,832 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $180.06, for a total transaction of $509,929.92. Following the sale, the insider now owns 246,060 shares in the company, valued at $44,305,563.60. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Eric A. Mendelson sold 2,832 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $180.06, for a total value of $509,929.92. Following the completion of the transaction, the insider now owns 246,060 shares in the company, valued at $44,305,563.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric A. Mendelson sold 8,864 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $180.54, for a total value of $1,600,306.56. Following the sale, the insider now directly owns 222,401 shares in the company, valued at $40,152,276.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,206 shares of company stock valued at $15,571,927. Insiders own 8.10% of the company’s stock.

Institutional Trading of HEICO

Large investors have recently made changes to their positions in the stock. HWG Holdings LP purchased a new stake in HEICO in the second quarter worth approximately $3,283,000. Driehaus Capital Management LLC lifted its holdings in shares of HEICO by 66.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock valued at $43,357,000 after buying an additional 77,067 shares during the period. Security National Bank of SO Dak purchased a new position in shares of HEICO in the 2nd quarter worth $206,000. Scientech Research LLC bought a new stake in shares of HEICO in the second quarter worth $534,000. Finally, AXA S.A. increased its position in HEICO by 11.0% during the second quarter. AXA S.A. now owns 101,980 shares of the aerospace company’s stock valued at $22,804,000 after acquiring an additional 10,143 shares during the last quarter. 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.