Heico (NYSE:HEI) Hits New 12-Month High – Should You Buy?

Heico Corporation (NYSE:HEI) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $363.40 and last traded at $362.55, with a volume of 80939 shares trading hands. The stock had previously closed at $356.19.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup restated a “buy” rating and issued a $410.00 price target (up from $403.00) on shares of Heico in a research note on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and set a $410.00 price objective (up from $375.00) on shares of Heico in a research report on Thursday, May 28th. UBS Group reiterated a “neutral” rating and issued a $390.00 price objective (up from $371.00) on shares of Heico in a report on Monday, June 1st. Zacks Research upgraded shares of Heico from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 9th. Finally, Susquehanna raised their price target on shares of Heico from $321.00 to $365.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $372.06.

Heico Trading Up 1.5%

The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $50.50 billion, a PE ratio of 64.60, a P/E/G ratio of 3.73 and a beta of 1.03. The stock has a 50 day moving average price of $310.52 and a 200-day moving average price of $315.02.

Heico (NYSE:HEI) last posted its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.33. Heico had a return on equity of 17.52% and a net margin of 16.08%.The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the prior year, the business earned $1.12 earnings per share. Heico’s revenue for the quarter was up 25.3% compared to the same quarter last year. Sell-side analysts expect that Heico Corporation will post 5.78 earnings per share for the current year.

Heico Announces Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a dividend yield of 7.0%. Heico’s dividend payout ratio is presently 4.29%.

Insider Activity at Heico

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

Hedge Funds Weigh In On Heico

A number of institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC lifted its position in Heico by 216.7% during the first quarter. Acadian Asset Management LLC now owns 1,381 shares of the aerospace company’s stock valued at $368,000 after purchasing an additional 945 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in Heico in the second quarter worth about $2,338,000. PDT Partners LLC raised its stake in shares of Heico by 52.6% in the second quarter. PDT Partners LLC now owns 39,019 shares of the aerospace company’s stock worth $12,798,000 after buying an additional 13,443 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Heico by 10.8% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,794 shares of the aerospace company’s stock worth $1,572,000 after buying an additional 468 shares during the period. Finally, IHT Wealth Management LLC lifted its position in shares of Heico by 2.1% during the 2nd quarter. IHT Wealth Management LLC now owns 5,717 shares of the aerospace company’s stock valued at $1,875,000 after buying an additional 117 shares in the last quarter. 27.12% of the stock is owned by institutional investors.

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.