William Blair Research Analysts Raise Earnings Estimates for HEICO Co. (NYSE:HEI)

HEICO Co. (NYSE:HEI) – Analysts at William Blair upped their FY2024 earnings per share (EPS) estimates for HEICO in a research note issued to investors on Tuesday, August 27th. William Blair analyst L. Dipalma now expects that the aerospace company will post earnings of $3.61 per share for the year, up from their previous forecast of $3.53. The consensus estimate for HEICO’s current full-year earnings is $3.57 per share.

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 the consensus estimate of $0.92 by $0.05. The firm had revenue of $992.20 million for the quarter, compared to the consensus estimate of $995.34 million. HEICO had a net margin of 12.62% and a return on equity of 14.26%. The business’s revenue was up 37.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 earnings per share.

A number of other analysts have also commented on the company. 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 report on Wednesday. Deutsche Bank Aktiengesellschaft upped their price target on HEICO from $209.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Barclays assumed coverage on HEICO in a research note on Monday, August 19th. They set an “equal weight” rating and a $250.00 price objective on the stock. Bank of America upped their target price on shares of HEICO from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Finally, Robert W. Baird raised their price target on shares of HEICO from $243.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $255.67.

HEICO Trading Up 0.6 %

HEI opened at $256.58 on Thursday. HEICO has a fifty-two week low of $155.42 and a fifty-two week high of $259.04. The firm has a market capitalization of $35.54 billion, a PE ratio of 80.69, a P/E/G ratio of 3.53 and a beta of 1.20. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.52 and a quick ratio of 1.57. The company’s 50-day moving average is $233.37 and its 200 day moving average is $213.84.

HEICO Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were given a $0.11 dividend. 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 payout ratio is currently 6.92%.

Insider Buying and Selling at HEICO

In related news, insider Eric A. Mendelson sold 20,000 shares of HEICO stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $186.09, for a total value of $3,721,800.00. Following the sale, the insider now owns 148,891 shares of the company’s stock, valued at approximately $27,707,126.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other HEICO news, insider Eric A. Mendelson sold 20,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $186.09, for a total value of $3,721,800.00. Following the completion of the sale, the insider now directly owns 148,891 shares of the company’s stock, valued at $27,707,126.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric A. Mendelson sold 8,864 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $180.54, for a total value of $1,600,306.56. Following the completion of the sale, the insider now owns 222,401 shares in the company, valued at $40,152,276.54. The disclosure for this sale can be found here. Insiders have sold a total of 85,206 shares of company stock worth $15,571,927 over the last three months. 8.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On HEICO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HEI. Capital World Investors lifted its stake in shares of HEICO by 10.5% during the 4th quarter. Capital World Investors now owns 3,276,326 shares of the aerospace company’s stock valued at $586,036,000 after buying an additional 311,304 shares in the last quarter. AGF Management Ltd. boosted its holdings in shares of HEICO by 61.7% in the second quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock worth $212,417,000 after acquiring an additional 362,625 shares during the period. EULAV Asset Management grew its position in shares of HEICO by 23.4% in 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. raised its stake in shares of HEICO by 3.0% during the 2nd quarter. TCW Group Inc. now owns 200,008 shares of the aerospace company’s stock valued at $44,724,000 after purchasing an additional 5,779 shares during the period. Finally, Driehaus Capital Management LLC lifted its holdings in HEICO by 66.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock worth $43,357,000 after purchasing an additional 77,067 shares in the last quarter. Institutional investors own 27.12% of the company’s stock.

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.