Heico (NYSE:HEI) Price Target Raised to $355.00 at Bank of America

Heico (NYSE:HEI) had its price target hoisted by Bank of America from $320.00 to $355.00 in a research note issued to investors on Thursday,Benzinga reports. Bank of America currently has a buy rating on the aerospace company’s stock.

Several other equities analysts have also commented on the stock. Wall Street Zen raised shares of Heico from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Wells Fargo & Company raised their price target on shares of Heico from $244.00 to $278.00 and gave the stock an “equal weight” rating in a report on Friday, May 30th. Stifel Nicolaus set a $352.00 price target on shares of Heico and gave the stock a “buy” rating in a report on Tuesday, June 24th. William Blair reissued an “outperform” rating on shares of Heico in a report on Tuesday, March 25th. Finally, Morgan Stanley raised their price target on shares of Heico from $270.00 to $305.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 4th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Heico has a consensus rating of “Moderate Buy” and an average target price of $292.36.

Heico Price Performance

HEI stock opened at $324.67 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.56 and a current ratio of 3.43. Heico has a 52 week low of $216.68 and a 52 week high of $328.64. The firm’s fifty day moving average is $289.32 and its 200 day moving average is $259.43. The firm has a market cap of $45.16 billion, a P/E ratio of 75.86, a P/E/G ratio of 4.04 and a beta of 1.08.

Heico (NYSE:HEI) last released its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.03 by $0.09. Heico had a net margin of 14.54% and a return on equity of 15.88%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm earned $0.88 EPS. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. Research analysts predict that Heico will post 4.2 earnings per share for the current year.

Heico Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a $0.12 dividend. This represents a dividend yield of 0.1%. This is a boost from Heico’s previous semi-annual dividend of $0.11. The ex-dividend date is Tuesday, July 1st. Heico’s dividend payout ratio (DPR) is currently 5.61%.

Insider Transactions at Heico

In other news, Director Julie Neitzel sold 700 shares of the firm’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $246.23, for a total value of $172,361.00. Following the completion of the sale, the director directly owned 418 shares of the company’s stock, valued at approximately $102,924.14. This trade represents a 62.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frank J. Schwitter sold 356 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $299.10, for a total transaction of $106,479.60. Following the completion of the sale, the director directly owned 1,500 shares of the company’s stock, valued at approximately $448,650. This represents a 19.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,056 shares of company stock valued at $22,699,941. Company insiders own 9.55% of the company’s stock.

Institutional Investors Weigh In On Heico

Institutional investors and hedge funds have recently modified their holdings of the stock. Wealthfront Advisers LLC lifted its position in Heico by 219,129.4% during the 4th quarter. Wealthfront Advisers LLC now owns 22,234,248 shares of the aerospace company’s stock valued at $5,285,970,000 after acquiring an additional 22,224,106 shares during the period. Bain Capital Public Equity Management II LLC purchased a new position in Heico during the 4th quarter valued at about $110,503,000. EULAV Asset Management lifted its position in Heico by 1.8% during the 1st quarter. EULAV Asset Management now owns 461,693 shares of the aerospace company’s stock valued at $123,360,000 after acquiring an additional 8,000 shares during the period. Two Sigma Advisers LP lifted its position in Heico by 2.3% during the 4th quarter. Two Sigma Advisers LP now owns 371,178 shares of the aerospace company’s stock valued at $88,244,000 after acquiring an additional 8,300 shares during the period. Finally, American Century Companies Inc. lifted its position in Heico by 11.3% during the 1st quarter. American Century Companies Inc. now owns 312,615 shares of the aerospace company’s stock valued at $83,528,000 after acquiring an additional 31,834 shares during the period. 27.12% of the stock is owned by hedge funds and other institutional investors.

Heico Company Profile

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.