HEICO Co. (NYSE:HEI) Insider Sells $9,739,890.20 in Stock

HEICO Co. (NYSE:HEI) insider Eric A. Mendelson sold 53,510 shares of HEICO stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $182.02, for a total value of $9,739,890.20. Following the completion of the transaction, the insider now owns 168,891 shares of the company’s stock, valued at $30,741,539.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

HEICO Stock Performance

HEICO stock opened at $221.85 on Friday. HEICO Co. has a fifty-two week low of $155.42 and a fifty-two week high of $232.02. The firm’s fifty day moving average price is $222.65 and its 200-day moving average price is $201.49. The stock has a market cap of $30.73 billion, a P/E ratio of 69.76, a price-to-earnings-growth ratio of 3.32 and a beta of 1.20. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.57 and a current ratio of 3.52.

HEICO (NYSE:HEI) last released its quarterly earnings results on Tuesday, May 28th. The aerospace company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $951.24 million. During the same quarter last year, the business posted $0.76 earnings per share. The company’s revenue for the quarter was up 38.9% on a year-over-year basis. On average, equities research analysts expect that HEICO Co. will post 3.57 earnings per share for the current fiscal year.

HEICO Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were given a dividend of $0.11 per share. This is a boost from HEICO’s previous Semi-Annual dividend of $0.07. This represents a yield of 0.1%. The ex-dividend date of this dividend was Monday, July 1st. HEICO’s dividend payout ratio (DPR) is presently 6.92%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Morgan Stanley raised HEICO from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $178.00 to $225.00 in a report on Tuesday, June 4th. Truist Financial boosted their price objective on shares of HEICO from $240.00 to $248.00 and gave the company a “buy” rating in a research note on Wednesday. Benchmark increased their target price on shares of HEICO from $185.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Robert W. Baird raised their price target on shares of HEICO from $223.00 to $243.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of HEICO from $209.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, HEICO currently has an average rating of “Moderate Buy” and a consensus target price of $236.89.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Avalon Capital Management raised its position in HEICO by 25.3% in the 4th quarter. Avalon Capital Management now owns 1,717 shares of the aerospace company’s stock worth $307,000 after purchasing an additional 347 shares during the period. Clear Harbor Asset Management LLC increased its holdings in shares of HEICO by 1.7% in the fourth quarter. Clear Harbor Asset Management LLC now owns 22,601 shares of the aerospace company’s stock worth $4,043,000 after buying an additional 372 shares during the period. PFG Advisors lifted its stake in shares of HEICO by 578.7% in the 4th quarter. PFG Advisors now owns 10,961 shares of the aerospace company’s stock valued at $1,961,000 after acquiring an additional 9,346 shares during the last quarter. Carderock Capital Management Inc. boosted its holdings in HEICO by 6.9% during the 4th quarter. Carderock Capital Management Inc. now owns 28,362 shares of the aerospace company’s stock valued at $5,073,000 after acquiring an additional 1,826 shares during the period. Finally, Moody Lynn & Lieberson LLC grew its position in HEICO by 2.6% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 2,395 shares of the aerospace company’s stock worth $428,000 after acquiring an additional 60 shares during the last quarter. 27.12% of the stock is owned by hedge funds and other institutional investors.

About HEICO

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.