Heico (NYSE:HEI) Sets New 52-Week High – Time to Buy?

Heico Corporation (NYSE:HEI) hit a new 52-week high during trading on Monday . The stock traded as high as $341.79 and last traded at $342.3450, with a volume of 68498 shares. The stock had previously closed at $329.31.

Analysts Set New Price Targets

HEI has been the topic of several research reports. Stifel Nicolaus set a $370.00 price objective on shares of Heico and gave the company a “buy” rating in a report on Monday, December 22nd. UBS Group restated a “neutral” rating and issued a $371.00 price target (up from $359.00) on shares of Heico in a research note on Monday, December 22nd. Truist Financial increased their target price on shares of Heico from $366.00 to $391.00 and gave the stock a “buy” rating in a research report on Tuesday, December 23rd. Citigroup assumed coverage on Heico in a research note on Thursday, December 11th. They issued a “buy” rating and a $367.00 price target for the company. Finally, Wall Street Zen downgraded Heico from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Heico currently has an average rating of “Moderate Buy” and an average target price of $357.07.

Heico Stock Performance

The stock has a market cap of $47.46 billion, a price-to-earnings ratio of 69.41, a P/E/G ratio of 3.65 and a beta of 1.03. The company has a quick ratio of 1.28, a current ratio of 2.83 and a debt-to-equity ratio of 0.49. The company has a 50 day simple moving average of $317.44 and a 200 day simple moving average of $317.61.

Heico (NYSE:HEI) last issued its quarterly earnings data on Thursday, December 18th. The aerospace company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.22 by $0.11. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.17 billion. Heico had a net margin of 15.39% and a return on equity of 16.80%. The firm’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.99 EPS. As a group, equities research analysts forecast that Heico Corporation will post 4.2 EPS for the current year.

Heico Dividend Announcement

The company also recently declared a dividend, which will be paid on Tuesday, January 20th. Stockholders of record on Monday, January 5th will be issued a dividend of $0.12 per share. This represents a dividend yield of 7.0%. The ex-dividend date is Monday, January 5th. Heico’s payout ratio is 4.89%.

Insiders Place Their Bets

In other Heico news, Director Julie Neitzel bought 676 shares of the business’s stock in a transaction that occurred on Friday, October 10th. The shares were acquired at an average cost of $243.93 per share, for a total transaction of $164,896.68. Following the transaction, the director directly owned 676 shares in the company, valued at approximately $164,896.68. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark H. Hildebrandt purchased 676 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was acquired at an average price of $243.93 per share, with a total value of $164,896.68. Following the completion of the transaction, the director owned 49,423 shares in the company, valued at approximately $12,055,752.39. This trade represents a 1.39% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 4,448 shares of company stock worth $1,086,933 over the last quarter. 9.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Heico

Institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. boosted its holdings in Heico by 45.7% in the third quarter. American Century Companies Inc. now owns 769,704 shares of the aerospace company’s stock valued at $248,476,000 after acquiring an additional 241,559 shares during the last quarter. Two Sigma Investments LP raised its stake in Heico by 0.6% during the third quarter. Two Sigma Investments LP now owns 558,661 shares of the aerospace company’s stock worth $180,347,000 after buying an additional 3,166 shares during the last quarter. Congress Asset Management Co. lifted its holdings in Heico by 366.0% in the second quarter. Congress Asset Management Co. now owns 308,457 shares of the aerospace company’s stock valued at $101,174,000 after buying an additional 242,264 shares during the period. Dixon Mitchell Investment Counsel Inc. boosted its position in Heico by 1.2% during the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 203,504 shares of the aerospace company’s stock valued at $65,695,000 after acquiring an additional 2,331 shares during the last quarter. Finally, Munro Partners grew its holdings in Heico by 8.5% during the 3rd quarter. Munro Partners now owns 197,633 shares of the aerospace company’s stock worth $63,800,000 after acquiring an additional 15,560 shares during the period. Institutional investors and hedge funds own 27.12% of the company’s stock.

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.