Heico (NYSE:HEI) Posts Quarterly Earnings Results

Heico (NYSE:HEI) released its earnings results on Tuesday. The aerospace company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.16, Zacks reports. Heico had a net margin of 16.38% and a return on equity of 18.41%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the firm posted $1.26 earnings per share. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year.

Heico Trading Down 0.4%

NYSE:HEI opened at $335.83 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.36 and a current ratio of 2.92. The stock’s 50 day moving average price is $353.82 and its 200 day moving average price is $321.55. Heico has a 52 week low of $256.11 and a 52 week high of $376.86. The company has a market capitalization of $46.90 billion, a P/E ratio of 55.88, a P/E/G ratio of 3.38 and a beta of 1.04.

Heico Announces Dividend

The company also recently declared a dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a dividend yield of 7.0%. Heico’s payout ratio is presently 4.33%.

Insider Activity at Heico

In other news, CAO Bradley K. Rowen sold 1,326 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total value of $320,401.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.86% of the company’s stock.

Institutional Trading of Heico

Several hedge funds have recently modified their holdings of the company. CI Investments Inc. boosted its stake 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 valued at $53,080,000 after purchasing an additional 46,846 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in Heico by 263.2% in the third quarter. Balyasny Asset Management L.P. now owns 60,469 shares of the aerospace company’s stock valued at $19,521,000 after buying an additional 43,821 shares during the period. SummitTX Capital L.P. boosted its stake in Heico by 692.7% in the fourth quarter. SummitTX Capital L.P. now owns 34,965 shares of the aerospace company’s stock valued at $11,314,000 after acquiring an additional 30,554 shares during the last quarter. Concentric Capital Strategies LP bought a new position in Heico in the third quarter valued at approximately $8,466,000. Finally, Gotham Asset Management LLC grew its holdings in Heico by 94.9% during the 4th quarter. Gotham Asset Management LLC now owns 38,389 shares of the aerospace company’s stock worth $12,422,000 after acquiring an additional 18,692 shares during the period. Institutional investors and hedge funds own 27.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HEI. Weiss Ratings raised Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Jefferies Financial Group set a $430.00 target price on Heico and gave the company a “buy” rating in a report on Wednesday. Rothschild & Co Redburn set a $360.00 price target on shares of Heico and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Wall Street Zen cut shares of Heico from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Finally, Susquehanna boosted their price objective on shares of Heico from $321.00 to $365.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $382.43.

Heico Company Profile

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.