HEICO (NYSE:HEI) Shares Gap Up After Earnings Beat

HEICO Co. (NYSE:HEI) shares gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $227.45, but opened at $245.00. HEICO shares last traded at $255.94, with a volume of 159,598 shares changing hands.

The aerospace company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.27. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $983.10 million. HEICO had a return on equity of 14.63% and a net margin of 13.33%.

HEICO Announces Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were issued a dividend of $0.11 per share. This represents a dividend yield of 0.1%. The ex-dividend date was Friday, January 3rd. HEICO’s payout ratio is presently 6.01%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HEI. KeyCorp started coverage on HEICO in a research report on Thursday, January 16th. They issued a “sector weight” rating for the company. Deutsche Bank Aktiengesellschaft decreased their target price on shares of HEICO from $271.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $270.20.

Hedge Funds Weigh In On HEICO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HEI. Wealthfront Advisers LLC raised its stake in shares of HEICO by 219,129.4% in the fourth quarter. Wealthfront Advisers LLC now owns 22,234,248 shares of the aerospace company’s stock valued at $5,285,970,000 after acquiring an additional 22,224,106 shares during the last quarter. Bain Capital Public Equity Management II LLC bought a new position in HEICO in the 4th quarter valued at $110,503,000. EULAV Asset Management boosted its stake in HEICO by 12.8% in the fourth quarter. EULAV Asset Management now owns 453,693 shares of the aerospace company’s stock worth $107,861,000 after purchasing an additional 51,500 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of HEICO by 19.1% during the fourth quarter. Fisher Asset Management LLC now owns 415,542 shares of the aerospace company’s stock worth $98,791,000 after purchasing an additional 66,583 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of HEICO by 2.3% in the fourth quarter. Two Sigma Advisers LP now owns 371,178 shares of the aerospace company’s stock valued at $88,244,000 after buying an additional 8,300 shares in the last quarter. 27.12% of the stock is currently owned by institutional investors and hedge funds.

HEICO Price Performance

The stock has a fifty day moving average of $233.37 and a 200-day moving average of $249.52. The firm has a market capitalization of $36.02 billion, a P/E ratio of 70.88, a PEG ratio of 3.10 and a beta of 1.29. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.60.

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.