Heico (NYSE:HEI) Hits New 52-Week High – What’s Next?

Heico Corporation (NYSE:HEI)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $369.48 and last traded at $365.35, with a volume of 410642 shares. The stock had previously closed at $362.09.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HEI. Truist Financial upgraded shares of Heico to a “strong-buy” rating in a report on Friday, May 1st. Rothschild & Co Redburn set a $360.00 price target on shares of Heico and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $410.00 target price (up from $375.00) on shares of Heico in a report on Thursday, May 28th. Susquehanna lifted their price target on shares of Heico from $321.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, Royal Bank Of Canada upped their price objective on Heico from $375.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $372.06.

Heico Stock Performance

The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average is $320.93 and its two-hundred day moving average is $317.07. The stock has a market cap of $48.65 billion, a price-to-earnings ratio of 62.21, a PEG ratio of 3.79 and a beta of 1.03.

Heico (NYSE:HEI) last issued its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.33. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Heico had a return on equity of 17.52% and a net margin of 16.08%.The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 EPS. Analysts anticipate that Heico Corporation will post 5.83 earnings per share for the current fiscal year.

Heico Dividend Announcement

The company also recently announced a dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a dividend yield of 7.0%. Heico’s payout ratio is presently 4.64%.

Insider Transactions at Heico

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total value of $320,401.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Julie Neitzel sold 676 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $223.00, for a total transaction of $150,748.00. The SEC filing for this sale provides additional information. 4.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On Heico

Hedge funds and other institutional investors have recently bought and sold shares of the company. Diamant Asset Management Inc. raised its stake in shares of Heico by 25,698.9% during the 1st quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company’s stock worth $209,392,000 after buying an additional 760,687 shares during the last quarter. Munro Partners boosted its position in Heico by 44.2% during the fourth quarter. Munro Partners now owns 284,898 shares of the aerospace company’s stock worth $92,190,000 after acquiring an additional 87,265 shares during the last quarter. CI Investments Inc. boosted its holdings in shares of Heico by 40.0% during the fourth quarter. CI Investments Inc. now owns 164,036 shares of the aerospace company’s stock worth $53,080,000 after purchasing an additional 46,846 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in Heico by 263.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 60,469 shares of the aerospace company’s stock worth $19,521,000 after buying an additional 43,821 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Heico by 12.1% in the fourth quarter. Fisher Asset Management LLC now owns 326,386 shares of the aerospace company’s stock worth $105,615,000 after acquiring an additional 35,288 shares during the last quarter. 27.12% of the stock is owned by institutional investors and hedge funds.

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.