Heico (NYSE:HEI) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Heico (NYSE:HEI) from a buy rating to a hold rating in a research report report published on Saturday morning.

Other analysts have also issued research reports about the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Heico in a report on Monday, December 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $375.00 target price (up from $355.00) on shares of Heico in a research report on Monday, December 22nd. Stifel Nicolaus set a $370.00 target price on Heico and gave the stock a “buy” rating in a report on Monday, December 22nd. Citigroup began coverage on Heico in a research note on Thursday, December 11th. They set a “buy” rating and a $367.00 price target on the stock. Finally, BNP Paribas set a $330.00 price objective on Heico in a report on Tuesday, November 18th. Ten equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $357.07.

Heico Trading Down 1.6%

NYSE HEI opened at $329.49 on Friday. The stock has a market cap of $45.92 billion, a PE ratio of 67.11, a PEG ratio of 3.76 and a beta of 1.04. Heico has a 12 month low of $216.68 and a 12 month high of $340.11. The company’s 50-day moving average price is $316.58 and its 200-day moving average price is $317.07. The company has a current ratio of 2.83, a quick ratio of 1.28 and a debt-to-equity ratio of 0.49.

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

Heico Announces Dividend

The business also recently announced a dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Monday, January 5th will be paid a $0.12 dividend. This represents a yield of 8.0%. The ex-dividend date is Monday, January 5th. Heico’s payout ratio is 4.89%.

Insider Buying and Selling at Heico

In other news, Director Thomas M. Culligan purchased 676 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was acquired at an average cost of $243.93 per share, with a total value of $164,896.68. Following the completion of the transaction, the director owned 11,030 shares in the company, valued at $2,690,547.90. This represents a 6.53% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Alan Schriesheim acquired 672 shares of the business’s stock in a transaction dated Friday, October 10th. The stock was purchased at an average cost of $243.93 per share, for a total transaction of $163,920.96. Following the transaction, the director owned 672 shares in the company, valued at approximately $163,920.96. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 4,448 shares of company stock valued at $1,086,933. 9.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Heico

Several institutional investors and hedge funds have recently bought and sold shares of HEI. American Century Companies Inc. lifted its holdings in shares of Heico by 45.7% during the 3rd 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 during the last quarter. Two Sigma Investments LP increased its position in Heico by 0.6% during the 3rd quarter. Two Sigma Investments LP now owns 558,661 shares of the aerospace company’s stock valued at $180,347,000 after buying an additional 3,166 shares in the last quarter. Congress Asset Management Co. increased its position in Heico by 366.0% during the 2nd 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 in the last quarter. Dixon Mitchell Investment Counsel Inc. raised its stake in Heico by 1.2% in 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 buying an additional 2,331 shares during the last quarter. Finally, Munro Partners boosted its holdings in Heico by 8.5% in the third 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 in the last quarter. 27.12% of the stock is owned by hedge funds and other 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.