Laurans A. Mendelson Sells 56,300 Shares of Heico Corporation (NYSE:HEI) Stock

Heico Corporation (NYSE:HEI) Chairman Laurans A. Mendelson sold 56,300 shares of the business’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total value of $17,985,035.00. Following the transaction, the chairman owned 1,253,127 shares in the company, valued at approximately $400,311,420.15. This represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Heico Stock Up 0.4%

Shares of NYSE HEI opened at $322.47 on Friday. The firm has a market cap of $44.86 billion, a price-to-earnings ratio of 75.34, a PEG ratio of 4.00 and a beta of 1.08. The company has a quick ratio of 1.56, a current ratio of 3.43 and a debt-to-equity ratio of 0.56. Heico Corporation has a 52-week low of $216.68 and a 52-week high of $328.64. The business’s 50 day moving average is $302.74 and its two-hundred day moving average is $265.38.

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

Heico Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a $0.12 dividend. This is a positive change from Heico’s previous semi-annual dividend of $0.11. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a yield of 0.1%. Heico’s payout ratio is presently 5.61%.

Institutional Trading of Heico

A number of large investors have recently modified their holdings of HEI. Sequoia Financial Advisors LLC increased its position in shares of Heico by 5.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 973 shares of the aerospace company’s stock worth $231,000 after acquiring an additional 46 shares during the period. Advisors Asset Management Inc. increased its position in shares of Heico by 10.5% during the fourth quarter. Advisors Asset Management Inc. now owns 20,258 shares of the aerospace company’s stock worth $4,816,000 after acquiring an additional 1,924 shares during the period. Semanteon Capital Management LP increased its position in shares of Heico by 32.2% during the fourth quarter. Semanteon Capital Management LP now owns 6,120 shares of the aerospace company’s stock worth $1,455,000 after acquiring an additional 1,489 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of Heico during the fourth quarter worth $354,000. Finally, Stevens Capital Management LP purchased a new stake in shares of Heico during the fourth quarter worth $323,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. UBS Group boosted their target price on Heico from $264.00 to $306.00 and gave the stock a “neutral” rating in a report on Thursday, May 29th. Truist Financial upped their price objective on Heico from $323.00 to $352.00 and gave the company a “buy” rating in a report on Friday, July 11th. Wells Fargo & Company upped their price objective on Heico from $244.00 to $278.00 and gave the company an “equal weight” rating in a report on Friday, May 30th. Morgan Stanley upped their price objective on Heico from $305.00 to $330.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Wall Street Zen cut Heico from a “buy” rating to a “hold” rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $301.45.

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.