Heico Corporation (HEI) To Go Ex-Dividend on July 1st

Heico Corporation (NYSE:HEI) announced a dividend on Friday, June 12th. Stockholders of record on Wednesday, July 1st will be given 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 raised its dividend annually for the last 17 consecutive years. Heico has a payout ratio of 5.3% meaning 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 $0.26 annual dividend with an expected future payout ratio of 4.0%.

Heico Stock Performance

Shares of HEI opened at $344.83 on Monday. Heico has a 1 year low of $256.11 and a 1 year high of $361.69. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.92 and a quick ratio of 1.36. The stock’s fifty day moving average price is $307.94 and its two-hundred day moving average price is $314.38. The firm has a market cap of $48.16 billion, a PE ratio of 61.58, a PEG ratio of 3.68 and a beta of 1.03.

Heico (NYSE:HEI) last posted its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $1.25 billion. During the same quarter in the prior year, the company earned $1.12 EPS. The firm’s quarterly revenue was up 25.3% compared to the same quarter last year. On average, equities research analysts forecast that Heico will post 5.78 EPS for the current year.

Insider Activity

In related news, Director Julie Neitzel sold 676 shares of the firm’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 value of $150,748.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Bradley K. Rowen sold 1,326 shares of Heico stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total transaction of $320,401.38. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.86% of the company’s stock.

Hedge Funds Weigh In On Heico

A number of institutional investors have recently made changes to their positions in the stock. Diamant Asset Management Inc. grew its position in Heico by 25,698.9% in the first quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company’s stock worth $209,392,000 after acquiring an additional 760,687 shares in the last quarter. American Century Companies Inc. raised its position in Heico by 45.7% during the third quarter. American Century Companies Inc. now owns 769,704 shares of the aerospace company’s stock valued at $248,476,000 after purchasing an additional 241,559 shares in the last quarter. Munro Partners lifted its stake in Heico by 44.2% during the fourth quarter. Munro Partners now owns 284,898 shares of the aerospace company’s stock worth $92,190,000 after purchasing an additional 87,265 shares during the last quarter. CI Investments Inc. boosted its holdings in shares of Heico by 40.0% in the 4th quarter. CI Investments Inc. now owns 164,036 shares of the aerospace company’s stock worth $53,080,000 after purchasing an additional 46,846 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Heico by 263.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 60,469 shares of the aerospace company’s stock worth $19,521,000 after purchasing an additional 43,821 shares in the last quarter. Institutional investors 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.