HEICO (NYSE:HEI) Sees Large Volume Increase – Here’s What Happened

Shares of HEICO Co. (NYSE:HEI) saw strong trading volume on Wednesday . 1,313,271 shares traded hands during trading, an increase of 91% from the previous session’s volume of 687,053 shares.The stock last traded at $226.58 and had previously closed at $225.85.

Wall Street Analyst Weigh In

Several equities research analysts have commented on HEI shares. Truist Financial boosted their target price on HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of HEICO from $271.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. UBS Group began coverage on shares of HEICO in a report on Tuesday, October 15th. They issued a “neutral” rating and a $277.00 target price for the company. Bank of America increased their price target on shares of HEICO from $250.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Morgan Stanley boosted their price objective on shares of HEICO from $245.00 to $265.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $270.20.

HEICO Stock Performance

The firm has a market capitalization of $31.45 billion, a PE ratio of 66.44, a P/E/G ratio of 3.12 and a beta of 1.28. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.30 and a quick ratio of 1.47. The business has a 50-day simple moving average of $256.23 and a 200-day simple moving average of $248.99.

HEICO (NYSE:HEI) last announced its earnings results on Tuesday, December 17th. The aerospace company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.02. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 earnings per share. Equities research analysts expect that HEICO Co. will post 3.64 earnings per share for the current fiscal year.

HEICO Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a dividend yield of 0.1%. HEICO’s payout ratio is 6.01%.

Insider Activity at HEICO

In related news, CEO Laurans A. Mendelson acquired 725 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were bought at an average price of $262.94 per share, with a total value of $190,631.50. Following the completion of the transaction, the chief executive officer now directly owns 929,984 shares in the company, valued at $244,529,992.96. This trade represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Victor H. Mendelson bought 726 shares of HEICO stock in a transaction on Friday, October 18th. The stock was purchased at an average price of $262.94 per share, with a total value of $190,894.44. Following the completion of the acquisition, the insider now directly owns 1,234,950 shares of the company’s stock, valued at $324,717,753. This represents a 0.06 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 2,175 shares of company stock worth $571,895 in the last quarter. 8.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On HEICO

A number of hedge funds and other institutional investors have recently bought and sold shares of HEI. Everence Capital Management Inc. acquired a new stake in HEICO in the 4th quarter worth approximately $1,681,000. Legacy Wealth Management LLC MS purchased a new position in shares of HEICO in the third quarter worth $214,000. Synovus Financial Corp lifted its stake in shares of HEICO by 31.7% during the third quarter. Synovus Financial Corp now owns 1,975 shares of the aerospace company’s stock worth $516,000 after buying an additional 475 shares during the period. Tidal Investments LLC grew its holdings in shares of HEICO by 7.9% during the third quarter. Tidal Investments LLC now owns 1,557 shares of the aerospace company’s stock valued at $407,000 after buying an additional 114 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new position in shares of HEICO in the 3rd quarter valued at $315,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

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.