Heico Corporation (NYSE:HEI) Chairman Laurans A. Mendelson Sells 56,300 Shares

Heico Corporation (NYSE:HEI) Chairman Laurans A. Mendelson sold 56,300 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total value of $17,985,035.00. Following the completion of the transaction, the chairman owned 1,253,127 shares in the company, valued at $400,311,420.15. This represents a 4.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Heico Trading Up 0.5%

Shares of HEI stock opened at $321.24 on Friday. The company has a market capitalization of $44.68 billion, a P/E ratio of 75.06, a P/E/G ratio of 3.98 and a beta of 1.08. Heico Corporation has a 12-month low of $216.68 and a 12-month high of $328.64. The company has a quick ratio of 1.56, a current ratio of 3.43 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $301.57 and a 200 day moving average price of $264.80.

Heico (NYSE:HEI) last announced its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.03 by $0.09. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Heico had a return on equity of 15.88% and a net margin of 14.54%. Heico’s revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 EPS. Research analysts forecast that Heico Corporation will post 4.2 earnings per share for the current fiscal year.

Heico Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a $0.12 dividend. This represents a yield of 0.1%. The ex-dividend date was Tuesday, July 1st. This is a boost from Heico’s previous semi-annual dividend of $0.11. Heico’s dividend payout ratio (DPR) is presently 5.61%.

Institutional Trading of Heico

Several hedge funds have recently modified their holdings of the stock. Union Bancaire Privee UBP SA bought a new position in Heico in the 2nd quarter valued at $1,224,000. Global Trust Asset Management LLC boosted its holdings in Heico by 145.2% in the second quarter. Global Trust Asset Management LLC now owns 4,610 shares of the aerospace company’s stock valued at $1,512,000 after acquiring an additional 2,730 shares during the last quarter. Moody Lynn & Lieberson LLC raised its holdings in Heico by 1.4% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 4,230 shares of the aerospace company’s stock worth $1,387,000 after purchasing an additional 60 shares during the last quarter. Novem Group acquired a new position in Heico during the 2nd quarter valued at about $235,000. Finally, Congress Asset Management Co. grew its position in shares of Heico by 366.0% during the 2nd quarter. Congress Asset Management Co. now owns 308,457 shares of the aerospace company’s stock worth $101,174,000 after buying an additional 242,264 shares during the period. 27.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on HEI shares. Truist Financial increased their target price on shares of Heico from $323.00 to $352.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Wells Fargo & Company increased their price target on Heico from $244.00 to $278.00 and gave the company an “equal weight” rating in a report on Friday, May 30th. Barclays set a $280.00 price objective on shares of Heico and gave the stock an “equal weight” rating in a research note on Monday, June 2nd. William Blair reaffirmed an “outperform” rating on shares of Heico in a report on Tuesday, March 25th. Finally, Wall Street Zen upgraded shares of Heico from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $301.45.

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.