HEICO (NYSE:HEI) Hits New 52-Week High at $259.40

HEICO Co. (NYSE:HEI - Get Free Report)'s share price hit a new 52-week high on Friday . The company traded as high as $259.40 and last traded at $259.34, with a volume of 112324 shares. The stock had previously closed at $256.16.

Analysts Set New Price Targets

Several research firms have issued reports on HEI. Royal Bank of Canada lifted their price objective on HEICO from $250.00 to $272.00 and gave the stock an "outperform" rating in a report on Wednesday, August 28th. Truist Financial upped their price objective on HEICO from $248.00 to $264.00 and gave the stock a "buy" rating in a research note on Wednesday, August 28th. Stifel Nicolaus raised their price target on shares of HEICO from $250.00 to $280.00 and gave the company a "buy" rating in a research note on Tuesday, August 27th. Robert W. Baird upped their price objective on shares of HEICO from $243.00 to $280.00 and gave the stock an "outperform" rating in a report on Wednesday, August 28th. Finally, Morgan Stanley upgraded HEICO from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $178.00 to $225.00 in a research report on Tuesday, June 4th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $259.67.

HEICO Stock Up 1.2 %

The firm has a fifty day moving average price of $238.93 and a 200 day moving average price of $217.93. 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 company has a market cap of $35.92 billion, a P/E ratio of 81.56, a PEG ratio of 3.61 and a beta of 1.22.

HEICO (NYSE:HEI - Get Free Report) last announced its earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.05. The company had revenue of $992.20 million during the quarter, compared to the consensus estimate of $995.34 million. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The company's revenue was up 37.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 earnings per share. Equities research analysts forecast that HEICO Co. will post 3.63 earnings per share for the current year.

HEICO Increases Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were given a dividend of $0.11 per share. The ex-dividend date was Monday, July 1st. This is an increase from HEICO's previous Semi-Annual dividend of $0.07. This represents a yield of 0.1%. HEICO's dividend payout ratio is presently 6.92%.

Insider Transactions at HEICO

In related news, insider Eric A. Mendelson sold 8,864 shares of the company's stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $180.54, for a total value of $1,600,306.56. Following the completion of the sale, the insider now owns 222,401 shares in the company, valued at $40,152,276.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Eric A. Mendelson sold 2,832 shares of the firm's stock in a transaction on Monday, June 24th. The stock was sold at an average price of $180.06, for a total transaction of $509,929.92. Following the sale, the insider now owns 246,060 shares of the company's stock, valued at approximately $44,305,563.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric A. Mendelson sold 8,864 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $180.54, for a total value of $1,600,306.56. Following the completion of the sale, the insider now owns 222,401 shares of the company's stock, valued at $40,152,276.54. The disclosure for this sale can be found here. Insiders sold a total of 85,206 shares of company stock worth $15,571,927 in the last quarter. 8.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On HEICO

Several institutional investors and hedge funds have recently modified their holdings of the business. Jump Financial LLC raised its position in shares of HEICO by 29.0% in the fourth quarter. Jump Financial LLC now owns 5,011 shares of the aerospace company's stock valued at $896,000 after purchasing an additional 1,125 shares during the period. Avantax Advisory Services Inc. acquired a new stake in shares of HEICO during the 4th quarter valued at $228,000. Moran Wealth Management LLC bought a new stake in shares of HEICO during the fourth quarter worth about $221,000. Anthracite Investment Company Inc. acquired a new stake in HEICO in the fourth quarter valued at $1,252,000. Finally, TrinityPoint Wealth LLC bought a new position in shares of HEICO during the fourth quarter worth about $213,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

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.