HEICO Co. (NYSE:HEI) Announces $0.11 Semi-annual Dividend

HEICO Co. (NYSE:HEI) announced a semi-annual dividend on Wednesday, December 18th,Wall Street Journal reports. Shareholders of record on Friday, January 3rd will be paid a dividend of 0.11 per share by the aerospace company on Friday, January 17th. This represents a yield of 0.1%. The ex-dividend date is Friday, January 3rd.

HEICO has raised its dividend by an average of 7.7% annually over the last three years and has raised its dividend every year for the last 17 years. HEICO has a payout ratio of 5.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect HEICO to earn $4.25 per share next year, which means the company should continue to be able to cover its $0.22 annual dividend with an expected future payout ratio of 5.2%.

HEICO Stock Down 8.8 %

NYSE HEI traded down $22.81 during trading on Wednesday, hitting $236.99. 1,960,810 shares of the company traded hands, compared to its average volume of 394,978. The business has a fifty day simple moving average of $262.66 and a 200 day simple moving average of $247.81. HEICO has a 12 month low of $169.70 and a 12 month high of $283.60. The company has a current ratio of 3.30, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $32.85 billion, a P/E ratio of 69.50, a PEG ratio of 3.14 and a beta of 1.24.

HEICO (NYSE:HEI) last posted its quarterly earnings data on Tuesday, December 17th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.02. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 EPS. As a group, sell-side analysts predict that HEICO will post 3.64 EPS for the current year.

Insider Buying and Selling at HEICO

In related news, Director Alan Schriesheim sold 332 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $201.63, for a total transaction of $66,941.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Laurans A. Mendelson purchased 725 shares of the business’s stock in a transaction on Friday, October 18th. The stock was bought at an average cost of $262.94 per share, for a total transaction of $190,631.50. Following the purchase, the chief executive officer now owns 929,984 shares of the company’s stock, valued at approximately $244,529,992.96. This represents a 0.08 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 2,175 shares of company stock valued at $571,895. Corporate insiders own 8.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on HEI shares. Benchmark reaffirmed a “buy” rating and set a $245.00 price objective on shares of HEICO in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft lifted their price objective on HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Robert W. Baird boosted their target price on shares of HEICO from $243.00 to $280.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Morgan Stanley upped their target price on shares of HEICO from $245.00 to $265.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, UBS Group assumed coverage on shares of HEICO in a report on Tuesday, October 15th. They issued a “neutral” rating and a $277.00 price target for the company. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $270.70.

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.