HEICO (NYSE:HEI) Shares Gap Down – Here’s Why

HEICO Co. (NYSE:HEI)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $259.80, but opened at $250.44. HEICO shares last traded at $242.15, with a volume of 402,018 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on HEI. Stifel Nicolaus lifted their target price on shares of HEICO from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Benchmark reissued a “buy” rating and set a $245.00 target price on shares of HEICO in a research report on Tuesday, August 27th. Robert W. Baird increased their price target on HEICO from $243.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Morgan Stanley boosted their price objective on HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Truist Financial lifted their target price on HEICO from $264.00 to $282.00 and gave the company a “buy” rating in a report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, HEICO currently has a consensus rating of “Moderate Buy” and an average target price of $270.20.

HEICO Price Performance

The company has a current ratio of 3.30, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average price of $261.76 and a 200-day moving average price of $247.67. The firm has a market capitalization of $32.94 billion, a P/E ratio of 69.70, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24.

HEICO (NYSE:HEI) last posted its quarterly earnings data on Tuesday, December 17th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.02. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, analysts expect that HEICO Co. will post 3.64 earnings per share for the current year.

HEICO Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be paid a dividend of $0.11 per share. This represents a yield of 0.1%. The ex-dividend date of this dividend is Friday, January 3rd. HEICO’s payout ratio is 6.45%.

Insider Transactions at HEICO

In other news, CEO Laurans A. Mendelson acquired 725 shares of the business’s stock in a transaction on Friday, October 18th. The stock was bought at an average price of $262.94 per share, for a total transaction of $190,631.50. Following the transaction, the chief executive officer now owns 929,984 shares in the company, valued at $244,529,992.96. This represents a 0.08 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Victor H. Mendelson bought 726 shares of the company’s stock in a transaction on Friday, October 18th. The shares were acquired at an average price of $262.94 per share, for a total transaction of $190,894.44. Following the transaction, the insider now directly owns 1,234,950 shares in the company, valued at $324,717,753. This trade represents a 0.06 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 2,175 shares of company stock valued at $571,895. 8.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HEICO

A number of institutional investors and hedge funds have recently bought and sold shares of HEI. AGF Management Ltd. raised its holdings in HEICO by 61.7% in the 2nd quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock valued at $212,417,000 after acquiring an additional 362,625 shares during the last quarter. EULAV Asset Management grew its stake in shares of HEICO by 5.0% in the third quarter. EULAV Asset Management now owns 402,193 shares of the aerospace company’s stock valued at $105,165,000 after buying an additional 19,200 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in shares of HEICO by 3.7% in the third quarter. Two Sigma Advisers LP now owns 362,878 shares of the aerospace company’s stock worth $94,885,000 after buying an additional 13,100 shares during the period. Driehaus Capital Management LLC lifted its stake in shares of HEICO by 66.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock valued at $43,357,000 after acquiring an additional 77,067 shares during the last quarter. Finally, Vantage Investment Partners LLC raised its position in shares of HEICO by 1.4% during the third quarter. Vantage Investment Partners LLC now owns 122,430 shares of the aerospace company’s stock worth $32,013,000 after purchasing an additional 1,717 shares during the period. Hedge funds and other institutional investors own 27.12% of the company’s stock.

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.