Heico (NYSE:HEI) Posts Earnings Results, Beats Expectations By $0.16 EPS

Heico (NYSE:HEI) announced its quarterly earnings data on Tuesday. The aerospace company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.16, Zacks reports. Heico had a return on equity of 17.52% and a net margin of 16.08%.

Heico Price Performance

Shares of NYSE:HEI traded down $1.48 during trading on Tuesday, reaching $351.19. The company had a trading volume of 551,386 shares, compared to its average volume of 592,768. Heico has a twelve month low of $256.11 and a twelve month high of $376.86. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.36 and a current ratio of 2.92. The firm has a market capitalization of $49.05 billion, a PE ratio of 62.71, a price-to-earnings-growth ratio of 3.58 and a beta of 1.04. The firm’s fifty day moving average is $353.37 and its 200 day moving average is $321.01.

Heico Dividend Announcement

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

Insiders Place Their Bets

In other Heico 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 transaction of $320,401.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.86% of the stock is owned by company insiders.

Institutional Trading of Heico

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. IFC & Insurance Marketing Inc. bought a new stake in Heico during the fourth quarter worth approximately $26,000. Birchwood Financial Partners Inc. purchased a new stake in shares of Heico during the fourth quarter valued at $32,000. Miller Capital Partners Inc. acquired a new position in shares of Heico in the fourth quarter worth about $70,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Heico during the fourth quarter valued at approximately $118,000. Finally, Greenline Wealth Management LLC acquired a new position in Heico in the 4th quarter worth approximately $118,000. 27.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. UBS Group restated a “neutral” rating and issued a $390.00 price target (up from $371.00) on shares of Heico in a research report on Monday, June 1st. Royal Bank Of Canada increased their price objective on shares of Heico from $375.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Jefferies Financial Group reissued a “buy” rating and issued a $425.00 target price on shares of Heico in a report on Thursday, August 13th. Citigroup restated a “buy” rating and issued a $429.00 target price (up from $410.00) on shares of Heico in a research note on Thursday, August 13th. Finally, Truist Financial raised Heico to a “strong-buy” rating in a report on Friday, May 1st. Three investment 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 MarketBeat.com, Heico currently has an average rating of “Moderate Buy” and an average target price of $379.56.

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.