Brokerages Set HEICO Co. (NYSE:HEI) Price Target at $259.67

Shares of HEICO Co. (NYSE:HEI) have received an average rating of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $259.67.

A number of equities analysts have weighed in on HEI shares. Royal Bank of Canada boosted their price objective on HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Morgan Stanley raised HEICO from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $178.00 to $225.00 in a research note on Tuesday, June 4th. Stifel Nicolaus upped their price target on HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Barclays initiated coverage on HEICO in a research note on Monday, August 19th. They issued an “equal weight” rating and a $250.00 price target on the stock. Finally, Truist Financial upped their price target on HEICO from $248.00 to $264.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th.

Insider Buying and Selling

In related news, Director Frank J. Schwitter purchased 475 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $252.26 per share, for a total transaction of $119,823.50. Following the acquisition, the director now directly owns 1,730 shares in the company, valued at $436,409.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Frank J. Schwitter purchased 475 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $252.26 per share, for a total transaction of $119,823.50. Following the acquisition, the director now directly owns 1,730 shares in the company, valued at $436,409.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric A. Mendelson sold 2,832 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $180.06, for a total value of $509,929.92. Following the completion of the transaction, the insider now owns 246,060 shares in the company, valued at approximately $44,305,563.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,206 shares of company stock valued at $15,571,927. Corporate insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Andra AP fonden purchased a new position in HEICO during the 2nd quarter worth approximately $45,000. Center for Financial Planning Inc. purchased a new position in HEICO during the 2nd quarter worth approximately $52,000. American National Bank purchased a new position in HEICO during the 2nd quarter worth approximately $66,000. Strategic Financial Concepts LLC purchased a new position in HEICO during the 2nd quarter worth approximately $67,000. Finally, Psagot Value Holdings Ltd. Israel purchased a new position in HEICO during the 4th quarter worth approximately $70,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

HEICO Stock Up 1.2 %

Shares of HEI opened at $259.35 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30. HEICO has a one year low of $155.42 and a one year high of $260.84. The stock has a market capitalization of $35.92 billion, a price-to-earnings ratio of 81.56, a PEG ratio of 3.61 and a beta of 1.22. The stock has a 50 day moving average price of $238.93 and a 200 day moving average price of $217.93.

HEICO (NYSE:HEI) last released its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The company had revenue of $992.20 million for the quarter, compared to analyst estimates of $995.34 million. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The firm’s revenue for the quarter was up 37.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 earnings per share. Equities research analysts forecast that HEICO will post 3.63 earnings per share for the current fiscal year.

HEICO Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were paid 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 of this dividend was Monday, July 1st. This represents a yield of 0.1%. HEICO’s dividend payout ratio is presently 6.92%.

About HEICO

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.