Heico (NYSE:HEI) Hits New 52-Week High – Should You Buy?

Shares of Heico Corporation (NYSE:HEI) hit a new 52-week high during trading on Wednesday . The company traded as high as $363.40 and last traded at $362.55, with a volume of 80939 shares trading hands. The stock had previously closed at $356.19.

Wall Street Analyst Weigh In

HEI has been the subject of several analyst reports. Wells Fargo & Company set a $350.00 price objective on shares of Heico and gave the stock an “equal weight” rating in a report on Monday, June 1st. Citigroup reissued a “buy” rating and set a $410.00 target price (up from $403.00) on shares of Heico in a report on Wednesday. Truist Financial raised Heico to a “strong-buy” rating in a report on Friday, May 1st. Wall Street Zen upgraded Heico from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, Royal Bank Of Canada boosted their price objective on Heico from $375.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $372.06.

Heico Trading Up 0.6%

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 has a market cap of $50.54 billion, a P/E ratio of 64.62, a PEG ratio of 3.83 and a beta of 1.03. The firm’s fifty day moving average price is $313.60 and its two-hundred day moving average price is $315.70.

Heico (NYSE:HEI) last posted its earnings results on Wednesday, May 27th. The aerospace company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.33 by $0.33. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Heico had a return on equity of 17.52% and a net margin of 16.08%.The firm’s revenue was up 25.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.12 earnings per share. As a group, equities research analysts forecast that Heico Corporation will post 5.78 EPS for the current year.

Heico Dividend Announcement

The firm also recently declared a dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.13 per share. This represents a dividend yield of 7.0%. The ex-dividend date is Wednesday, July 1st. Heico’s dividend payout ratio (DPR) is 4.64%.

Insider Activity

In other Heico news, Director Julie Neitzel sold 676 shares of Heico stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $223.00, for a total transaction of $150,748.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Bradley K. Rowen sold 1,326 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total transaction of $320,401.38. The SEC filing for this sale provides additional information. 4.86% of the stock is currently owned by insiders.

Institutional Trading of Heico

Several institutional investors and hedge funds have recently made changes to their positions in the stock. IFC & Insurance Marketing Inc. purchased a new position in Heico in the fourth quarter worth $26,000. CBIZ Investment Advisory Services LLC lifted its stake in Heico by 1,000.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 80 shares during the last quarter. Birchwood Financial Partners Inc. bought a new stake in Heico during the fourth quarter worth about $32,000. V Square Quantitative Management LLC purchased a new position in shares of Heico in the 4th quarter worth about $37,000. Finally, FNY Investment Advisers LLC boosted its holdings in shares of Heico by 862.5% in the 4th quarter. FNY Investment Advisers LLC now owns 154 shares of the aerospace company’s stock worth $49,000 after purchasing an additional 138 shares in the last quarter. Hedge funds and other 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.