HEICO Co. (NYSE:HEI) Sees Large Increase in Short Interest

HEICO Co. (NYSE:HEI - Get Free Report) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 2,420,000 shares, an increase of 49.4% from the May 31st total of 1,620,000 shares. Based on an average trading volume of 368,700 shares, the days-to-cover ratio is presently 6.6 days. Approximately 5.7% of the company's shares are sold short.

HEICO Stock Performance

Shares of NYSE:HEI traded down $3.17 on Friday, hitting $223.61. 737,516 shares of the company were exchanged, compared to its average volume of 423,729. HEICO has a 1-year low of $155.42 and a 1-year high of $232.02. The stock's 50 day moving average price is $217.40 and its 200 day moving average price is $196.88. The company has a current ratio of 3.52, a quick ratio of 1.57 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $30.97 billion, a P/E ratio of 70.32, a price-to-earnings-growth ratio of 3.34 and a beta of 1.21.

HEICO (NYSE:HEI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 28th. The aerospace company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.80 by $0.08. HEICO had a net margin of 12.62% and a return on equity of 14.26%. The business had revenue of $955.40 million during the quarter, compared to the consensus estimate of $951.24 million. During the same period in the previous year, the firm posted $0.76 earnings per share. The business's revenue for the quarter was up 38.9% compared to the same quarter last year. Sell-side analysts predict that HEICO will post 3.55 EPS for the current year.

HEICO Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a dividend of $0.11 per share. This is an increase from HEICO's previous Semi-Annual dividend of $0.07. This represents a dividend yield of 0.1%. The ex-dividend date is Monday, July 1st. HEICO's payout ratio is presently 6.29%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Truist Financial reiterated a "buy" rating and set a $240.00 price objective (up from $229.00) on shares of HEICO in a research note on Thursday, May 30th. Benchmark increased their price objective on shares of HEICO from $185.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, June 14th. Bank of America raised their target price on shares of HEICO from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Monday, June 24th. Royal Bank of Canada raised their target price on shares of HEICO from $235.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, May 30th. Finally, Robert W. Baird raised their target price on shares of HEICO from $223.00 to $243.00 and gave the company an "outperform" rating in a research note on Thursday, May 30th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, HEICO has an average rating of "Moderate Buy" and an average target price of $236.00.

Insider Transactions at HEICO

In other news, insider Eric A. Mendelson sold 2,832 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $180.06, for a total transaction of $509,929.92. Following the transaction, the insider now directly owns 246,060 shares in the company, valued at $44,305,563.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 8.10% of the company's stock.

Institutional Investors Weigh In On HEICO

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Moody Lynn & Lieberson LLC raised its holdings in shares of HEICO by 2.6% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,395 shares of the aerospace company's stock worth $428,000 after purchasing an additional 60 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of HEICO by 0.7% during the fourth quarter. Private Advisor Group LLC now owns 12,456 shares of the aerospace company's stock worth $2,228,000 after purchasing an additional 81 shares during the last quarter. Desjardins Global Asset Management Inc. raised its holdings in shares of HEICO by 7.9% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,465 shares of the aerospace company's stock worth $262,000 after purchasing an additional 107 shares during the last quarter. KPP Advisory Services LLC raised its holdings in shares of HEICO by 7.0% during the fourth quarter. KPP Advisory Services LLC now owns 1,900 shares of the aerospace company's stock worth $340,000 after purchasing an additional 124 shares during the last quarter. Finally, Verity Asset Management Inc. raised its holdings in shares of HEICO by 2.2% during the first quarter. Verity Asset Management Inc. now owns 6,400 shares of the aerospace company's stock worth $1,222,000 after purchasing an additional 139 shares during the last quarter. 27.12% of the stock is currently owned by institutional investors and hedge funds.

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.