Heico (NYSE:HEI) Reaches New 1-Year High – Here’s What Happened

Heico Corporation (NYSE:HEI)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $369.67 and last traded at $369.2210, with a volume of 153355 shares. The stock had previously closed at $360.44.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on HEI shares. Susquehanna increased their price objective on shares of Heico from $321.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Rothschild & Co Redburn set a $360.00 target price on Heico and gave the stock a “buy” rating in a report on Wednesday, May 13th. Wells Fargo & Company set a $350.00 price target on Heico and gave the company an “equal weight” rating in a research report on Monday, June 1st. Weiss Ratings upgraded Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Finally, UBS Group restated a “neutral” rating and issued a $390.00 price target (up from $371.00) on shares of Heico in a research note on Monday, June 1st. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Heico currently has an average rating of “Moderate Buy” and an average target price of $374.56.

Heico Price Performance

The stock has a market capitalization of $51.51 billion, a P/E ratio of 65.86, a price-to-earnings-growth ratio of 3.69 and a beta of 1.04. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.92 and a quick ratio of 1.36. The company’s 50-day simple moving average is $342.80 and its 200-day simple moving average is $318.43.

Heico (NYSE:HEI) last announced its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.33. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.25 billion. Heico had a net margin of 16.08% and a return on equity of 17.52%. The company’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 EPS. As a group, sell-side analysts expect that Heico Corporation will post 5.95 EPS for the current fiscal year.

Heico Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a $0.13 dividend. This represents a yield of 7.0%. The ex-dividend date was Wednesday, July 1st. Heico’s dividend payout ratio (DPR) is 4.64%.

Insider Buying and Selling

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total transaction of $320,401.38. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.86% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. IFC & Insurance Marketing Inc. bought a new stake in Heico in the 4th quarter valued at $26,000. CBIZ Investment Advisory Services LLC boosted its position in Heico by 1,000.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 80 shares during the period. Birchwood Financial Partners Inc. bought a new position in Heico during the fourth quarter worth $32,000. V Square Quantitative Management LLC acquired a new position in shares of Heico in the fourth quarter valued at $37,000. Finally, FNY Investment Advisers LLC increased its holdings in shares of Heico by 862.5% in the fourth quarter. FNY Investment Advisers LLC now owns 154 shares of the aerospace company’s stock valued at $49,000 after purchasing an additional 138 shares during the last quarter. 27.12% of the stock is currently owned by institutional investors.

Heico Company Profile

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company’s offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.