HEICO Co. (NYSE:HEI – Get Free Report) was the recipient of a large decline in short interest in July. As of July 15th, there was short interest totalling 1,820,000 shares, a decline of 5.2% from the June 30th total of 1,920,000 shares. Based on an average trading volume of 365,900 shares, the short-interest ratio is currently 5.0 days. Approximately 4.3% of the shares of the company are sold short.
HEICO Price Performance
HEICO stock opened at $174.92 on Friday. The business’s fifty day moving average is $170.47 and its two-hundred day moving average is $170.26. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.38 and a current ratio of 2.93. HEICO has a 52 week low of $138.82 and a 52 week high of $182.18. The firm has a market cap of $23.96 billion, a P/E ratio of 64.07, a P/E/G ratio of 4.61 and a beta of 1.20.
HEICO (NYSE:HEI – Get Free Report) last announced its earnings results on Tuesday, May 23rd. The aerospace company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. HEICO had a net margin of 15.19% and a return on equity of 14.07%. The company had revenue of $687.84 million during the quarter, compared to the consensus estimate of $654.32 million. During the same period in the previous year, the firm posted $0.62 earnings per share. Equities research analysts forecast that HEICO will post 2.92 earnings per share for the current fiscal year.
HEICO Announces Dividend
The business also recently announced a semi-annual dividend, which was paid on Monday, July 17th. Shareholders of record on Monday, July 3rd were paid a $0.10 dividend. This represents a dividend yield of 0.1%. The ex-dividend date of this dividend was Friday, June 30th. HEICO’s dividend payout ratio is presently 7.33%.
Insider Buying and Selling at HEICO
In other HEICO news, CEO Laurans A. Mendelson bought 310 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were purchased at an average price of $125.83 per share, with a total value of $39,007.30. Following the purchase, the chief executive officer now directly owns 16,587 shares of the company’s stock, valued at $2,087,142.21. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mark H. Hildebrandt purchased 781 shares of the stock in a transaction dated Wednesday, June 7th. The shares were bought at an average cost of $127.98 per share, for a total transaction of $99,952.38. Following the transaction, the director now owns 781 shares in the company, valued at $99,952.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laurans A. Mendelson acquired 310 shares of HEICO stock in a transaction dated Friday, June 2nd. The shares were acquired at an average price of $125.83 per share, with a total value of $39,007.30. Following the transaction, the chief executive officer now owns 16,587 shares in the company, valued at approximately $2,087,142.21. The disclosure for this purchase can be found here. Insiders have acquired 1,211 shares of company stock valued at $157,944 in the last quarter. Corporate insiders own 8.26% of the company’s stock.
Hedge Funds Weigh In On HEICO
A number of institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in shares of HEICO during the first quarter worth approximately $43,000. Sunbelt Securities Inc. bought a new stake in shares of HEICO during the first quarter worth approximately $109,000. Benjamin Edwards Inc. raised its stake in shares of HEICO by 20.1% during the fourth quarter. Benjamin Edwards Inc. now owns 1,159 shares of the aerospace company’s stock worth $178,000 after buying an additional 194 shares during the last quarter. HighMark Wealth Management LLC bought a new stake in shares of HEICO during the first quarter worth approximately $186,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of HEICO during the first quarter worth approximately $192,000. 27.79% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of HEICO in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Vertical Research raised shares of HEICO from a “hold” rating to a “buy” rating and set a $191.00 price objective on the stock in a research note on Tuesday, May 30th. Finally, Bank of America lifted their price objective on shares of HEICO from $190.00 to $220.00 in a research note on Tuesday, June 13th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, HEICO presently has an average rating of “Moderate Buy” and an average price target of $191.22.
Check Out Our Latest Report on HEICO
About HEICO
HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services. The company’s Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.
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