Eric A. Mendelson Sells 2,832 Shares of HEICO Co. (NYSE:HEI) Stock

HEICO Co. (NYSE:HEI) insider Eric A. Mendelson sold 2,832 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $180.06, for a total transaction of $509,929.92. Following the completion of the sale, the insider now owns 246,060 shares in the company, valued at $44,305,563.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

HEICO Trading Up 0.6 %

Shares of HEICO stock opened at $226.74 on Friday. The firm’s 50 day moving average is $216.88 and its 200 day moving average is $196.51. The firm has a market capitalization of $31.40 billion, a PE ratio of 71.30, a price-to-earnings-growth ratio of 3.37 and a beta of 1.21. HEICO Co. has a 1 year low of $155.42 and a 1 year high of $232.02. The company has a current ratio of 3.52, a quick ratio of 1.57 and a debt-to-equity ratio of 0.69.

HEICO (NYSE:HEI) last released its earnings results on Tuesday, May 28th. The aerospace company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.80 by $0.08. HEICO had a return on equity of 14.26% and a net margin of 12.62%. The business had revenue of $955.40 million during the quarter, compared to analysts’ expectations of $951.24 million. During the same quarter last year, the firm posted $0.76 earnings per share. The firm’s revenue was up 38.9% on a year-over-year basis. Equities research analysts forecast that HEICO Co. will post 3.55 earnings per share for the current fiscal year.

HEICO Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a dividend of $0.11 per share. This represents a dividend yield of 0.1%. The ex-dividend date is Monday, July 1st. This is an increase from HEICO’s previous Semi-Annual dividend of $0.07. HEICO’s payout ratio is presently 6.92%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HEI. Stifel Nicolaus raised their target price on shares of HEICO from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Truist Financial reaffirmed a “buy” rating and set a $240.00 target price (up previously from $229.00) on shares of HEICO in a report on Thursday, May 30th. Morgan Stanley raised HEICO from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $178.00 to $225.00 in a report on Tuesday, June 4th. Benchmark boosted their price objective on shares of HEICO from $185.00 to $245.00 and gave the company a “buy” rating in a report on Friday, June 14th. Finally, Robert W. Baird raised their target price on shares of HEICO from $223.00 to $243.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, HEICO presently has an average rating of “Moderate Buy” and an average target price of $236.00.

Institutional Investors Weigh In On HEICO

A number of large investors have recently bought and sold shares of the stock. Federated Hermes Inc. boosted its position in shares of HEICO by 8.3% during the 4th quarter. Federated Hermes Inc. now owns 567,103 shares of the aerospace company’s stock worth $101,438,000 after purchasing an additional 43,509 shares in the last quarter. Nomura Holdings Inc. purchased a new position in shares of HEICO in the 4th quarter worth about $897,000. Meyer Handelman Co. bought a new position in HEICO during the first quarter valued at about $1,072,000. AGF Management Ltd. purchased a new stake in HEICO during the fourth quarter worth about $2,899,000. Finally, TCW Group Inc. raised its position in HEICO by 10.6% in the fourth quarter. TCW Group Inc. now owns 176,102 shares of the aerospace company’s stock worth $31,499,000 after acquiring an additional 16,878 shares during the period. 27.12% of the stock is currently owned by institutional investors and hedge funds.

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.