Heico (NYSE:HEI) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Heico (NYSE:HEI) from a buy rating to a hold rating in a research report report published on Sunday morning.

A number of other research analysts have also commented on HEI. Morgan Stanley set a $370.00 price target on shares of Heico in a research report on Wednesday, July 15th. UBS Group reiterated a “neutral” rating and issued a $390.00 price objective (up from $371.00) on shares of Heico in a research report on Monday, June 1st. Zacks Research raised Heico from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 9th. Deutsche Bank Aktiengesellschaft set a $421.00 target price on Heico and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company set a $350.00 target price on Heico and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $379.56.

Heico Trading Up 0.1%

Shares of Heico stock opened at $355.49 on Friday. The company’s 50-day moving average price is $353.04 and its 200-day moving average price is $320.88. The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53. Heico has a 12-month low of $256.11 and a 12-month high of $376.86. The company has a market cap of $49.65 billion, a price-to-earnings ratio of 63.48, a PEG ratio of 3.58 and a beta of 1.04.

Heico (NYSE:HEI) last issued its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.33 by $0.33. Heico had a net margin of 16.08% and a return on equity of 17.52%. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the company earned $1.12 earnings per share. Heico’s revenue for the quarter was up 25.3% on a year-over-year basis. On average, equities analysts expect that Heico will post 6.02 earnings per share for the current fiscal year.

Heico Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.13 per share. This represents a dividend yield of 7.0%. The ex-dividend date of this dividend was Wednesday, July 1st. Heico’s payout ratio is currently 4.64%.

Insider Transactions at Heico

In related news, CAO Bradley K. Rowen sold 1,326 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total value of $320,401.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.86% of the company’s stock.

Institutional Investors Weigh In On Heico

Several hedge funds have recently added to or reduced their stakes in HEI. Acadian Asset Management LLC raised its holdings in shares of 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 buying an additional 945 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new stake in Heico in the 2nd quarter worth approximately $2,338,000. PDT Partners LLC boosted its stake in Heico by 52.6% in the second quarter. PDT Partners LLC now owns 39,019 shares of the aerospace company’s stock worth $12,798,000 after buying an additional 13,443 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in Heico by 10.8% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,794 shares of the aerospace company’s stock valued at $1,572,000 after acquiring an additional 468 shares during the last quarter. Finally, IHT Wealth Management LLC grew its position in Heico by 2.1% during the second quarter. IHT Wealth Management LLC now owns 5,717 shares of the aerospace company’s stock valued at $1,875,000 after acquiring an additional 117 shares during the last quarter. Institutional investors own 27.12% of the company’s stock.

About Heico

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.