HEICO Co. (NYSE:HEI) Insider Sells $509,929.92 in Stock

HEICO Co. (NYSE:HEI) insider Eric A. Mendelson sold 2,832 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $180.06, for a total value of $509,929.92. Following the transaction, the insider now directly 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 through the SEC website.

HEICO Trading Down 1.5 %

Shares of HEI stock opened at $223.30 on Friday. HEICO Co. has a 52-week low of $155.42 and a 52-week high of $232.02. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.57 and a current ratio of 3.52. The firm has a market capitalization of $30.93 billion, a PE ratio of 70.22, a PEG ratio of 3.31 and a beta of 1.21. The stock has a fifty day simple moving average of $217.40 and a two-hundred day simple moving average of $196.79.

HEICO (NYSE:HEI) last issued its quarterly earnings results on Tuesday, May 28th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.08. HEICO had a return on equity of 14.26% and a net margin of 12.62%. The business had revenue of $955.40 million during the quarter, compared to analyst estimates of $951.24 million. During the same quarter in the prior year, the business posted $0.76 EPS. HEICO’s revenue for the quarter was up 38.9% compared to the same quarter last year. On average, analysts predict that HEICO Co. will post 3.55 EPS for the current fiscal year.

HEICO Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a dividend of $0.11 per share. This is a positive change from HEICO’s previous Semi-Annual dividend of $0.07. The ex-dividend date is Monday, July 1st. This represents a dividend yield of 0.1%. HEICO’s dividend payout ratio (DPR) is presently 6.29%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on HEI shares. Stifel Nicolaus increased their price target on HEICO from $215.00 to $230.00 and gave the company a “buy” rating in a report on Monday, May 6th. Morgan Stanley raised HEICO from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $178.00 to $225.00 in a report on Tuesday, June 4th. Robert W. Baird raised their target price on HEICO from $223.00 to $243.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Benchmark raised their target price on HEICO from $185.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Finally, Bank of America raised their target price on HEICO from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, HEICO has an average rating of “Moderate Buy” and an average price target of $236.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Capital World Investors grew its position in shares of HEICO by 10.5% during the fourth quarter. Capital World Investors now owns 3,276,326 shares of the aerospace company’s stock valued at $586,036,000 after purchasing an additional 311,304 shares in the last quarter. Federated Hermes Inc. grew its position in shares of HEICO by 8.3% during the fourth quarter. Federated Hermes Inc. now owns 567,103 shares of the aerospace company’s stock valued at $101,438,000 after purchasing an additional 43,509 shares in the last quarter. EULAV Asset Management grew its position in shares of HEICO by 23.4% during the first quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock valued at $67,250,000 after purchasing an additional 66,800 shares in the last quarter. TCW Group Inc. grew its position in shares of HEICO by 10.6% during the fourth quarter. TCW Group Inc. now owns 176,102 shares of the aerospace company’s stock valued at $31,499,000 after purchasing an additional 16,878 shares in the last quarter. Finally, Zeno Equity Partners LLP grew its position in HEICO by 154.3% in the first quarter. Zeno Equity Partners LLP now owns 161,570 shares of the aerospace company’s stock worth $30,860,000 after acquiring an additional 98,033 shares in the last quarter. Hedge funds and other institutional investors own 27.12% of the company’s stock.

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.