Heico (NYSE:HEI) Price Target Raised to $441.00

Heico (NYSE:HEI) had its target price raised by Citigroup from $429.00 to $441.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the aerospace company’s stock.

A number of other brokerages have also issued reports on HEI. Wells Fargo & Company set a $350.00 target price on shares of Heico and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Morgan Stanley set a $370.00 price target on shares of Heico in a research report on Wednesday, July 15th. Royal Bank Of Canada boosted their price target on Heico from $375.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Deutsche Bank Aktiengesellschaft set a $421.00 price target on Heico and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Finally, UBS Group restated a “neutral” rating and set a $396.00 price objective (up from $382.00) on shares of Heico in a research note on Thursday. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Heico presently has a consensus rating of “Moderate Buy” and an average price target of $382.43.

Heico Trading Down 0.2%

Shares of Heico stock opened at $335.83 on Friday. The firm has a 50-day moving average of $353.82 and a 200-day moving average of $321.54. The stock has a market cap of $46.90 billion, a PE ratio of 55.88, a PEG ratio of 3.36 and a beta of 1.04. Heico has a 52-week low of $256.11 and a 52-week high of $376.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.72.

Heico (NYSE:HEI) last released its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.51 by $0.16. Heico had a net margin of 16.38% and a return on equity of 18.00%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the company posted $1.26 earnings per share. Heico’s revenue was up 23.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Heico will post 6.09 EPS for the current year.

Heico Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a $0.13 dividend. This represents a yield of 7.0%. The ex-dividend date of this dividend was Wednesday, July 1st. Heico’s dividend payout ratio (DPR) is currently 4.33%.

Insider Activity at Heico

In other news, CAO Bradley K. Rowen sold 1,326 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total transaction of $320,401.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.86% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HEI. Strive Financial Group LLC acquired a new position in Heico during the second quarter valued at approximately $176,000. Safeguard Investment Advisory Group LLC acquired a new stake in shares of Heico in the 2nd quarter valued at $2,330,000. Nykredit A S acquired a new stake in shares of Heico in the 2nd quarter valued at $14,163,000. Flputnam Investment Management Co. bought a new position in shares of Heico in the 2nd quarter valued at $214,000. Finally, Rational Advisors Inc. increased its stake in shares of Heico by 15.0% in the 2nd quarter. Rational Advisors Inc. now owns 4,600 shares of the aerospace company’s stock valued at $1,638,000 after purchasing an additional 600 shares during the last quarter. 27.12% of the stock is owned by institutional investors.

About Heico

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.