HEICO (NYSE:HEI) Sees Unusually-High Trading Volume – Time to Buy?

HEICO Co. (NYSE:HEI) shares saw strong trading volume on Wednesday . 1,313,271 shares traded hands during mid-day trading, an increase of 91% from the previous session’s volume of 687,053 shares.The stock last traded at $226.58 and had previously closed at $225.85.

Analyst Upgrades and Downgrades

HEI has been the topic of several research reports. Bank of America upped their price objective on shares of HEICO from $250.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, September 19th. UBS Group assumed coverage on HEICO in a research note on Tuesday, October 15th. They issued a “neutral” rating and a $277.00 price objective for the company. Truist Financial increased their target price on HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Morgan Stanley boosted their price target on shares of HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of HEICO from $271.00 to $266.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, HEICO presently has a consensus rating of “Moderate Buy” and an average price target of $270.20.

HEICO Trading Up 0.3 %

The firm has a 50-day moving average price of $256.23 and a 200-day moving average price of $248.99. 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 stock has a market capitalization of $31.45 billion, a PE ratio of 66.44, a price-to-earnings-growth ratio of 3.12 and a beta of 1.28.

HEICO (NYSE:HEI) last released its earnings results on Tuesday, December 17th. The aerospace company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.03 billion. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 earnings per share. As a group, equities analysts forecast that HEICO Co. will post 3.64 EPS for the current fiscal year.

HEICO Dividend Announcement

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be paid a $0.11 dividend. This represents a yield of 0.1%. The ex-dividend date is Friday, January 3rd. HEICO’s dividend payout ratio is currently 6.01%.

Insiders Place Their Bets

In other HEICO news, Director Alan Schriesheim bought 724 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were acquired at an average cost of $262.94 per share, for a total transaction of $190,368.56. Following the purchase, the director now directly owns 174,878 shares of the company’s stock, valued at $45,982,421.32. The trade was a 0.42 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 bought at an average price of $262.94 per share, with a total value of $190,894.44. Following the completion of the transaction, the insider now owns 1,234,950 shares of the company’s stock, valued at $324,717,753. The trade was a 0.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 2,175 shares of company stock worth $571,895 over the last quarter. 8.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Andra AP fonden purchased a new position in shares of HEICO during the second quarter valued at about $45,000. Rakuten Securities Inc. purchased a new position in shares of HEICO during the 3rd quarter worth approximately $81,000. Brooklyn Investment Group bought a new position in shares of HEICO in the 3rd quarter worth approximately $128,000. Global Trust Asset Management LLC purchased a new position in shares of HEICO in the 3rd quarter valued at approximately $144,000. Finally, Arcadia Investment Management Corp MI bought a new stake in shares of HEICO during the third quarter valued at approximately $157,000. 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.