HEICO Co. Declares Semi-annual Dividend of $0.11 (NYSE:HEI)

HEICO Co. (NYSE:HEI) declared a semi-annual dividend on Wednesday, December 18th,Wall Street Journal reports. Stockholders of record on Friday, January 3rd will be paid a dividend of 0.11 per share by the aerospace company on Friday, January 17th. This represents a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, January 3rd.

HEICO has raised its dividend payment by an average of 7.7% per year over the last three years and has increased its dividend annually for the last 17 consecutive years. HEICO has a dividend payout ratio of 5.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect HEICO to earn $4.25 per share next year, which means the company should continue to be able to cover its $0.22 annual dividend with an expected future payout ratio of 5.2%.

HEICO Stock Performance

Shares of NYSE HEI opened at $237.24 on Thursday. The company has a current ratio of 3.30, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63. HEICO has a 12-month low of $169.70 and a 12-month high of $283.60. The firm has a market capitalization of $32.88 billion, a price-to-earnings ratio of 69.57, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. The firm has a 50 day moving average of $262.18 and a 200 day moving average of $247.74.

HEICO (NYSE:HEI) last issued its quarterly earnings data on Tuesday, December 17th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm posted $0.74 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, research analysts anticipate that HEICO will post 3.64 earnings per share for the current year.

Insider Activity at HEICO

In other HEICO news, CEO Laurans A. Mendelson purchased 725 shares of HEICO stock in a transaction that occurred on Friday, October 18th. The shares were bought at an average price of $262.94 per share, for a total transaction of $190,631.50. Following the completion of the transaction, the chief executive officer now owns 929,984 shares of the company’s stock, valued at approximately $244,529,992.96. This trade represents a 0.08 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Alan Schriesheim acquired 724 shares of the stock in a transaction on Friday, October 18th. The shares were acquired at an average price of $262.94 per share, with a total value of $190,368.56. Following the transaction, the director now directly owns 174,878 shares of the company’s stock, valued at $45,982,421.32. The trade was a 0.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 2,175 shares of company stock valued at $571,895. Corporate insiders own 8.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on HEI. Deutsche Bank Aktiengesellschaft raised their price objective on HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Royal Bank of Canada raised their target price on shares of HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Benchmark reaffirmed a “buy” rating and set a $245.00 price target on shares of HEICO in a report on Tuesday, August 27th. Bank of America increased their price objective on shares of HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Stifel Nicolaus lifted their target price on shares of HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, HEICO presently has a consensus rating of “Moderate Buy” and an average target price of $270.70.

About HEICO

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. Its Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.