HEICO Co. Announces Semi-annual Dividend of $0.11 (NYSE:HEI)

HEICO Co. (NYSE:HEI - Get Free Report) announced a semi-annual dividend on Wednesday, December 18th,Wall Street Journal reports. Stockholders of record on Friday, January 3rd will be paid a dividend of 0.11 per share by the aerospace company on Friday, January 17th. This represents a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, January 3rd.

HEICO has increased its dividend payment by an average of 7.7% annually over the last three years and has increased its dividend annually for the last 17 consecutive years. HEICO has a payout ratio of 5.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect HEICO to earn $4.25 per share next year, which means the company should continue to be able to cover its $0.22 annual dividend with an expected future payout ratio of 5.2%.

HEICO Price Performance

HEI traded down $22.56 during midday trading on Wednesday, reaching $237.24. 2,229,547 shares of the company's stock were exchanged, compared to its average volume of 397,392. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63. The business has a 50-day simple moving average of $262.18 and a two-hundred day simple moving average of $247.74. The firm has a market capitalization of $32.88 billion, a price-to-earnings ratio of 69.57, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. HEICO has a one year low of $169.70 and a one year high of $283.60.

HEICO (NYSE:HEI - Get Free Report) last posted its earnings results on Tuesday, December 17th. The aerospace company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.97 by $0.02. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company earned $0.74 EPS. HEICO's revenue was up 8.2% on a year-over-year basis. As a group, research analysts predict that HEICO will post 3.64 EPS for the current year.

Insider Activity

In other news, Director Alan Schriesheim sold 332 shares of the firm's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $201.63, for a total value of $66,941.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Laurans A. Mendelson acquired 725 shares of the firm's stock in a transaction that occurred on Friday, October 18th. The shares were bought at an average cost of $262.94 per share, with a total value of $190,631.50. Following the completion of the purchase, the chief executive officer now owns 929,984 shares of the company's stock, valued at $244,529,992.96. This trade represents a 0.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 2,175 shares of company stock valued at $571,895. Company insiders own 8.10% of the company's stock.

Analyst Upgrades and Downgrades

HEI has been the topic of several analyst reports. Robert W. Baird upped their target price on shares of HEICO from $243.00 to $280.00 and gave the stock an "outperform" rating in a report on Wednesday, August 28th. Morgan Stanley upped their price objective on shares of HEICO from $245.00 to $265.00 and gave the stock an "equal weight" rating in a research note on Friday, October 18th. UBS Group began coverage on shares of HEICO in a report on Tuesday, October 15th. They set a "neutral" rating and a $277.00 price objective for the company. Truist Financial boosted 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. Finally, Stifel Nicolaus raised their price target on HEICO from $250.00 to $280.00 and gave the company a "buy" rating in a report on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $270.70.

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.