Heico Corporation (NYSE:HEI) to Issue $0.13 Dividend

Heico Corporation (NYSE:HEI) announced a dividend on Monday, June 15th. Stockholders of record on Wednesday, July 1st will be paid a dividend of 0.13 per share by the aerospace company on Wednesday, July 15th. This represents a dividend yield of 8.0%. The ex-dividend date is Wednesday, July 1st.

Heico has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 17 consecutive years. Heico has a dividend payout ratio of 4.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Heico to earn $6.50 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 3.7%.

Heico Stock Performance

Shares of HEI traded up $4.41 during trading hours on Monday, reaching $336.02. 535,153 shares of the company traded hands, compared to its average volume of 658,746. The company has a quick ratio of 1.36, a current ratio of 2.92 and a debt-to-equity ratio of 0.53. The business has a fifty day moving average price of $297.61 and a 200-day moving average price of $312.70. Heico has a 12-month low of $256.11 and a 12-month high of $361.69. The stock has a market capitalization of $46.93 billion, a P/E ratio of 60.00, a P/E/G ratio of 3.53 and a beta of 1.03.

Heico (NYSE:HEI) last issued its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.33. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Heico had a return on equity of 17.52% and a net margin of 16.08%.The firm’s revenue was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.12 EPS. Equities analysts anticipate that Heico will post 5.78 EPS for the current fiscal year.

Insider Transactions at Heico

In related news, CAO Bradley K. Rowen sold 1,326 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total transaction of $320,401.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Julie Neitzel sold 676 shares of Heico stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $223.00, for a total value of $150,748.00. The disclosure for this sale is available in the SEC filing. 4.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Heico

Several large investors have recently made changes to their positions in the company. IFC & Insurance Marketing Inc. acquired a new stake in Heico during the fourth quarter valued at $26,000. CBIZ Investment Advisory Services LLC boosted its stake in shares of Heico by 1,000.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 80 shares in the last quarter. Birchwood Financial Partners Inc. purchased a new stake in shares of Heico during the 4th quarter worth about $32,000. V Square Quantitative Management LLC acquired a new stake in shares of Heico during the 4th quarter valued at about $37,000. Finally, FNY Investment Advisers LLC grew its position in shares of Heico by 862.5% during the 4th quarter. FNY Investment Advisers LLC now owns 154 shares of the aerospace company’s stock valued at $49,000 after acquiring an additional 138 shares during the period. 27.12% of the stock is currently owned by institutional investors and hedge funds.

About Heico

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company’s offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.