HEICO (NYSE:HEI) Hits New 1-Year High After Dividend Announcement

HEICO Co. (NYSE:HEI) reached a new 52-week high during trading on Thursday after the company announced a dividend. 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 $0.12 dividend. This is a positive change from HEICO’s previous semi-annual dividend of $0.11. This represents a dividend yield of 0.1%. The ex-dividend date of this dividend is Tuesday, July 1st. HEICO’s dividend payout ratio (DPR) is currently 5.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wall Street Zen upgraded HEICO from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Barclays set a $280.00 price objective on shares of HEICO and gave the stock an “equal weight” rating in a report on Monday, June 2nd. Wells Fargo & Company lifted their target price on shares of HEICO from $244.00 to $278.00 and gave the company an “equal weight” rating in a research note on Friday, May 30th. UBS Group boosted their price target on shares of HEICO from $264.00 to $306.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Finally, Truist Financial lowered their price objective on shares of HEICO from $294.00 to $277.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $279.45.

HEICO Stock Performance

The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 3.11. The stock has a market capitalization of $42.50 billion, a P/E ratio of 83.48, a PEG ratio of 3.10 and a beta of 1.07. The business has a 50-day moving average price of $269.48 and a 200 day moving average price of $254.29.

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

Insider Activity at HEICO

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

Institutional Investors Weigh In On HEICO

Several large investors have recently bought and sold shares of HEI. Acadian Asset Management LLC lifted its stake in HEICO by 216.7% during the 1st 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 period. Interval Partners LP bought a new position in HEICO during the first quarter valued at approximately $3,127,000. Banque Transatlantique SA boosted its holdings in HEICO by 36.8% in the first quarter. Banque Transatlantique SA now owns 253 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 68 shares during the last quarter. Advisors Asset Management Inc. grew its position in HEICO by 1.3% in the 1st quarter. Advisors Asset Management Inc. now owns 20,517 shares of the aerospace company’s stock worth $5,482,000 after purchasing an additional 259 shares during the period. Finally, PDT Partners LLC raised its stake in HEICO by 781.9% during the 1st quarter. PDT Partners LLC now owns 25,576 shares of the aerospace company’s stock valued at $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.