Heico (NYSE:HEI) Stock Price Expected to Rise, Bank of America Analyst Says

Heico (NYSE:HEI) had its target price raised by Bank of America from $320.00 to $355.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the aerospace company’s stock.

Several other equities analysts also recently issued reports on HEI. Truist Financial cut their target price on Heico from $294.00 to $277.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. William Blair reissued an “outperform” rating on shares of Heico in a research report on Tuesday, March 25th. UBS Group upped their target price on Heico from $264.00 to $306.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Wells Fargo & Company upped their target price on Heico from $244.00 to $278.00 and gave the company an “equal weight” rating in a research report on Friday, May 30th. Finally, Stifel Nicolaus set a $352.00 target price on Heico and gave the company a “buy” rating in a research report on Tuesday, June 24th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $292.36.

Heico Stock Performance

Shares of HEI opened at $324.67 on Thursday. Heico has a 12 month low of $216.68 and a 12 month high of $328.64. The stock has a fifty day moving average price of $290.87 and a 200-day moving average price of $260.03. The company has a current ratio of 3.43, a quick ratio of 1.56 and a debt-to-equity ratio of 0.56. The firm has a market cap of $45.16 billion, a PE ratio of 75.86, a P/E/G ratio of 4.11 and a beta of 1.08.

Heico (NYSE:HEI) last released its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.09. Heico had a return on equity of 15.88% and a net margin of 14.54%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm earned $0.88 EPS. The firm’s revenue was up 14.9% on a year-over-year basis. Equities research analysts predict that Heico will post 4.2 earnings per share for the current fiscal year.

Heico Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.12 per share. This is an increase from Heico’s previous semi-annual dividend of $0.11. This represents a yield of 0.1%. The ex-dividend date is Tuesday, July 1st. Heico’s dividend payout ratio (DPR) is currently 5.61%.

Insiders Place Their Bets

In other news, Director Alan Schriesheim sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $298.36, for a total transaction of $10,442,600.00. Following the sale, the director directly owned 122,197 shares in the company, valued at $36,458,696.92. This trade represents a 22.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julie Neitzel sold 700 shares of the firm’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $246.23, for a total value of $172,361.00. Following the sale, the director owned 418 shares in the company, valued at $102,924.14. This trade represents a 62.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,056 shares of company stock valued at $22,699,941. Company insiders own 9.55% of the company’s stock.

Institutional Investors Weigh In On Heico

A number of institutional investors have recently modified their holdings of HEI. Wealthfront Advisers LLC grew its position in shares of Heico by 219,129.4% during the 4th quarter. Wealthfront Advisers LLC now owns 22,234,248 shares of the aerospace company’s stock valued at $5,285,970,000 after acquiring an additional 22,224,106 shares during the period. Bain Capital Public Equity Management II LLC acquired a new stake in shares of Heico during the 4th quarter valued at about $110,503,000. Freestone Grove Partners LP acquired a new stake in shares of Heico during the 4th quarter valued at about $71,030,000. Mackenzie Financial Corp acquired a new stake in shares of Heico during the 1st quarter valued at about $40,949,000. Finally, Squarepoint Ops LLC grew its position in shares of Heico by 2,203.0% during the 4th quarter. Squarepoint Ops LLC now owns 87,030 shares of the aerospace company’s stock valued at $20,691,000 after acquiring an additional 83,251 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.