Brokerages Set Heico Corporation (NYSE:HEI) Target Price at $374.56

Shares of Heico Corporation (NYSE:HEI) have been given an average rating of “Moderate Buy” by the seventeen research firms that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, nine have given a buy rating and three have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $374.5625.

Several analysts have recently issued reports on the stock. Morgan Stanley set a $370.00 price objective on shares of Heico in a research note on Wednesday, July 15th. Susquehanna lifted their target price on Heico from $321.00 to $365.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Weiss Ratings raised Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Jefferies Financial Group restated a “buy” rating and set a $410.00 price target (up from $375.00) on shares of Heico in a research note on Thursday, May 28th. Finally, Wells Fargo & Company set a $350.00 price objective on Heico and gave the stock an “equal weight” rating in a report on Monday, June 1st.

Heico Trading Down 0.5%

Shares of HEI stock opened at $341.07 on Thursday. The firm has a market cap of $47.63 billion, a P/E ratio of 60.90, a PEG ratio of 3.55 and a beta of 1.03. Heico has a 1-year low of $256.11 and a 1-year high of $369.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.92 and a quick ratio of 1.36. The firm’s 50-day simple moving average is $331.59 and its 200-day simple moving average is $317.81.

Heico (NYSE:HEI) last released its earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.33. Heico had a net margin of 16.08% and a return on equity of 17.52%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the firm earned $1.12 earnings per share. Heico’s revenue was up 25.3% compared to the same quarter last year. As a group, equities analysts forecast that Heico will post 5.95 EPS for the current year.

Heico Dividend Announcement

The firm also recently declared a dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a $0.13 dividend. The ex-dividend date was Wednesday, July 1st. This represents a yield of 7.0%. Heico’s dividend payout ratio (DPR) is presently 4.64%.

Insiders Place Their Bets

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of Heico stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total transaction of $320,401.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.86% of the stock is currently owned by company insiders.

Institutional Trading of Heico

Institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its stake in shares of Heico by 216.7% during the first quarter. Acadian Asset Management LLC now owns 1,381 shares of the aerospace company’s stock worth $368,000 after purchasing an additional 945 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in shares of Heico in the second quarter valued at about $2,338,000. PDT Partners LLC raised its holdings in shares of Heico by 52.6% during the 2nd quarter. PDT Partners LLC now owns 39,019 shares of the aerospace company’s stock valued at $12,798,000 after buying an additional 13,443 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Heico by 10.8% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,794 shares of the aerospace company’s stock valued at $1,572,000 after buying an additional 468 shares during the period. Finally, IHT Wealth Management LLC lifted its position in Heico by 2.1% during the 2nd quarter. IHT Wealth Management LLC now owns 5,717 shares of the aerospace company’s stock worth $1,875,000 after acquiring an additional 117 shares in the last quarter. 27.12% of the stock is owned by hedge funds and other institutional investors.

About Heico

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company’s offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.