Shares of Heico Corporation (NYSE:HEI) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $85.79 and last traded at $85.67, with a volume of 92,145 shares. The stock had previously closed at $85.22.
A number of analysts recently issued reports on HEI shares. Deutsche Bank AG reissued a “buy” rating and set a $100.00 price objective on shares of Heico Corporation in a report on Wednesday, April 12th. Stephens started coverage on Heico Corporation in a report on Thursday, April 13th. They set an “equal weight” rating and a $87.00 price objective on the stock. Jefferies Group LLC reissued a “hold” rating and set a $73.00 price objective (up previously from $68.00) on shares of Heico Corporation in a report on Wednesday, April 26th. Zacks Investment Research cut Heico Corporation from a “buy” rating to a “hold” rating in a report on Monday, May 1st. Finally, Canaccord Genuity increased their price objective on Heico Corporation from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, May 3rd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Heico Corporation currently has an average rating of “Buy” and an average price target of $83.63.
The firm has a market cap of $7.20 billion, a PE ratio of 42.474 and a beta of 0.76. The firm’s 50 day moving average is $75.48 and its 200-day moving average is $70.32.
Heico Corporation (NYSE:HEI) last issued its quarterly earnings data on Tuesday, May 23rd. The aerospace company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.50 by $0.03. Heico Corporation had a return on equity of 15.89% and a net margin of 12.08%. The firm had revenue of $368.70 million during the quarter, compared to analyst estimates of $368.78 million. During the same quarter in the prior year, the business posted $0.57 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts forecast that Heico Corporation will post $2.09 earnings per share for the current year.
The firm also recently disclosed a semiannual dividend, which was paid on Wednesday, July 19th. Stockholders of record on Wednesday, July 5th were issued a dividend of $0.08 per share. This represents a dividend yield of 0.22%. The ex-dividend date was Friday, June 30th. This is a positive change from Heico Corporation’s previous semiannual dividend of $0.07. Heico Corporation’s dividend payout ratio is currently 7.93%.
Several hedge funds have recently modified their holdings of HEI. Riverbridge Partners LLC raised its stake in shares of Heico Corporation by 21.8% in the second quarter. Riverbridge Partners LLC now owns 1,621,457 shares of the aerospace company’s stock valued at $116,486,000 after buying an additional 290,014 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Heico Corporation by 20.7% in the second quarter. Fisher Asset Management LLC now owns 1,170,462 shares of the aerospace company’s stock valued at $84,086,000 after buying an additional 200,591 shares in the last quarter. Ardevora Asset Management LLP raised its stake in shares of Heico Corporation by 32.9% in the second quarter. Ardevora Asset Management LLP now owns 524,323 shares of the aerospace company’s stock valued at $37,667,000 after buying an additional 129,823 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Heico Corporation by 42.7% in the second quarter. First Trust Advisors LP now owns 419,333 shares of the aerospace company’s stock valued at $30,125,000 after buying an additional 125,544 shares in the last quarter. Finally, Copeland Capital Management LLC raised its stake in shares of Heico Corporation by 22.3% in the second quarter. Copeland Capital Management LLC now owns 382,933 shares of the aerospace company’s stock valued at $27,510,000 after buying an additional 69,889 shares in the last quarter. Hedge funds and other institutional investors own 22.34% of the company’s stock.
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About Heico Corporation
HEICO Corporation manufactures Federal Aviation Administration (FAA)-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers (OEMs) and their subcontractors. The Company also manufactures various types of electronic equipment for the aviation, medical, telecommunications and electronics industries.
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