Heico (NYSE:HEI) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Heico (NYSE:HEI) from a buy rating to a hold rating in a report published on Saturday morning.

A number of other equities analysts also recently weighed in on the stock. Wells Fargo & Company set a $350.00 target price on shares of Heico and gave the stock an “equal weight” rating in a report on Monday, June 1st. Rothschild & Co Redburn set a $360.00 price target on shares of Heico and gave the company a “buy” rating in a research note on Wednesday, May 13th. UBS Group reissued a “neutral” rating and issued a $390.00 price objective (up from $371.00) on shares of Heico in a research report on Monday, June 1st. Royal Bank Of Canada boosted their price objective on shares of Heico from $375.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Finally, Susquehanna upped their target price on shares of Heico from $321.00 to $365.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $374.56.

Heico Stock Performance

HEI opened at $361.07 on Friday. The business’s 50-day simple moving average is $342.80 and its 200 day simple moving average is $318.43. Heico has a 52-week low of $256.11 and a 52-week high of $369.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.36 and a current ratio of 2.92. The firm has a market capitalization of $50.43 billion, a PE ratio of 64.48, a PEG ratio of 3.69 and a beta of 1.04.

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

Heico Announces Dividend

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

Insider Buying and Selling

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

Institutional Trading of Heico

A number of hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC grew its stake in Heico by 216.7% in the 1st quarter. Acadian Asset Management LLC now owns 1,381 shares of the aerospace company’s stock valued at $368,000 after buying an additional 945 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new stake in shares of Heico during the second quarter worth approximately $2,338,000. PDT Partners LLC grew its position in shares of Heico by 52.6% in the second quarter. PDT Partners LLC now owns 39,019 shares of the aerospace company’s stock valued at $12,798,000 after purchasing an additional 13,443 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Heico by 10.8% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,794 shares of the aerospace company’s stock valued at $1,572,000 after purchasing an additional 468 shares during the last quarter. Finally, IHT Wealth Management LLC increased its stake in shares of Heico by 2.1% during the second quarter. IHT Wealth Management LLC now owns 5,717 shares of the aerospace company’s stock worth $1,875,000 after purchasing an additional 117 shares during the period. Institutional investors and hedge funds own 27.12% of the company’s stock.

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.