Heico Corporation (NYSE:HEI) Given Average Recommendation of “Moderate Buy” by Brokerages

Heico Corporation (NYSE:HEI) has received an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $376.6875.

HEI has been the subject of several analyst reports. Truist Financial raised shares of Heico to a “strong-buy” rating in a research report on Friday, May 1st. Citigroup reaffirmed a “buy” rating and issued a $429.00 price objective (up from $410.00) on shares of Heico in a research report on Thursday. Wall Street Zen upgraded shares of Heico from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings raised shares of Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $425.00 target price on shares of Heico in a research note on Thursday.

Insider Buying and Selling at Heico

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

Institutional Investors Weigh In On Heico

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Diamant Asset Management Inc. grew its stake in shares of Heico by 25,698.9% during the first quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company’s stock worth $209,392,000 after acquiring an additional 760,687 shares during the last quarter. Two Sigma Investments LP raised its position in shares of Heico by 0.6% in the 3rd quarter. Two Sigma Investments LP now owns 558,661 shares of the aerospace company’s stock valued at $180,347,000 after purchasing an additional 3,166 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Heico by 12.1% in the 4th quarter. Fisher Asset Management LLC now owns 326,386 shares of the aerospace company’s stock valued at $105,615,000 after purchasing an additional 35,288 shares during the last quarter. Munro Partners boosted its stake in Heico by 44.2% in the 4th quarter. Munro Partners now owns 284,898 shares of the aerospace company’s stock worth $92,190,000 after purchasing an additional 87,265 shares in the last quarter. Finally, Weitz Investment Management Inc. acquired a new stake in Heico in the 2nd quarter worth approximately $52,737,000. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Heico Trading Up 0.9%

HEI opened at $375.03 on Monday. The firm has a market cap of $52.38 billion, a price-to-earnings ratio of 66.97, a PEG ratio of 3.85 and a beta of 1.04. The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53. Heico has a 12 month low of $256.11 and a 12 month high of $376.86. The stock has a fifty day moving average price of $349.68 and a 200-day moving average price of $319.97.

Heico (NYSE:HEI) last issued its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the business posted $1.12 EPS. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. As a group, equities research analysts anticipate that Heico will post 5.95 earnings per share for the current fiscal year.

Heico Dividend Announcement

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

Heico Company Profile

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.