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

Heico Corporation (NYSE:HEI)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $369.67 and last traded at $369.2210, with a volume of 153355 shares trading hands. The stock had previously closed at $360.44.

Analyst Upgrades and Downgrades

HEI has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Heico from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Citigroup restated a “buy” rating and issued a $410.00 target price (up from $403.00) on shares of Heico in a research note on Wednesday, July 1st. Royal Bank Of Canada boosted their target price on shares of Heico from $375.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Jefferies Financial Group restated a “buy” rating and set a $410.00 price objective (up from $375.00) on shares of Heico in a research report on Thursday, May 28th. Finally, Weiss Ratings upgraded Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $374.56.

Heico Stock Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.36 and a current ratio of 2.92. The firm has a 50 day moving average of $345.12 and a 200-day moving average of $318.62. The stock has a market capitalization of $50.77 billion, a PE ratio of 64.92, a P/E/G ratio of 3.81 and a beta of 1.04.

Heico (NYSE:HEI) last released its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.33. Heico had a net margin of 16.08% and a return on equity of 17.52%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the business earned $1.12 EPS. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. Research analysts forecast that Heico Corporation will post 5.95 earnings per share for the current year.

Heico Announces Dividend

The company also recently declared a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.13 per share. This represents a dividend yield of 7.0%. The ex-dividend date was Wednesday, July 1st. Heico’s payout ratio is currently 4.64%.

Insider Buying and Selling

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of Heico stock in a transaction that occurred on Wednesday, June 10th. The shares were 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 can be accessed through the SEC website. Corporate insiders own 4.86% of the company’s stock.

Hedge Funds Weigh In On Heico

Hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC boosted its stake in shares of Heico by 216.7% during the 1st quarter. Acadian Asset Management LLC now owns 1,381 shares of the aerospace company’s stock worth $368,000 after acquiring an additional 945 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new position in Heico during the second quarter valued at approximately $2,338,000. PDT Partners LLC lifted its stake in shares of Heico by 52.6% in the second quarter. PDT Partners LLC now owns 39,019 shares of the aerospace company’s stock worth $12,798,000 after buying an additional 13,443 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Heico by 10.8% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,794 shares of the aerospace company’s stock worth $1,572,000 after buying an additional 468 shares during the period. Finally, IHT Wealth Management LLC raised its holdings in Heico by 2.1% in the 2nd quarter. IHT Wealth Management LLC now owns 5,717 shares of the aerospace company’s stock worth $1,875,000 after acquiring an additional 117 shares during the period. 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.