Heico (NYSE:HEI) Announces Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Heico (NYSE:HEI) released its quarterly earnings data on Tuesday. The aerospace company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.51 by $0.16, Zacks reports. Heico had a return on equity of 17.52% and a net margin of 16.08%.

Heico Stock Performance

NYSE HEI traded down $1.48 on Tuesday, hitting $351.19. 552,690 shares of the company’s stock were exchanged, compared to its average volume of 593,739. 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 firm’s 50-day moving average price is $353.37 and its two-hundred day moving average price is $321.01. Heico has a fifty-two week low of $256.11 and a fifty-two week high of $376.86. The firm has a market cap of $49.05 billion, a price-to-earnings ratio of 62.71, a P/E/G ratio of 3.58 and a beta of 1.04.

Heico Announces Dividend

The firm also recently announced a dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were given a dividend of $0.13 per share. The ex-dividend date was Wednesday, July 1st. This represents a yield of 7.0%. Heico’s payout ratio is presently 4.64%.

Insider Activity at Heico

In other news, CAO Bradley K. Rowen sold 1,326 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.86% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC lifted its position in Heico by 216.7% during the first quarter. Acadian Asset Management LLC now owns 1,381 shares of the aerospace company’s stock valued at $368,000 after buying an additional 945 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new position in Heico in the second quarter valued at about $2,338,000. PDT Partners LLC grew its stake in Heico by 52.6% during the 2nd quarter. PDT Partners LLC now owns 39,019 shares of the aerospace company’s stock valued at $12,798,000 after purchasing an additional 13,443 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in Heico by 10.8% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,794 shares of the aerospace company’s stock worth $1,572,000 after purchasing an additional 468 shares during the last quarter. Finally, IHT Wealth Management LLC raised its position in shares of Heico by 2.1% in the 2nd quarter. IHT Wealth Management LLC now owns 5,717 shares of the aerospace company’s stock valued at $1,875,000 after purchasing an additional 117 shares in the last quarter. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on HEI shares. Royal Bank Of Canada boosted their price target on Heico from $375.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Morgan Stanley set a $370.00 price target on Heico in a report on Wednesday, July 15th. Weiss Ratings upgraded Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. UBS Group restated a “neutral” rating and issued a $390.00 target price (up from $371.00) on shares of Heico in a report on Monday, June 1st. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $425.00 target price on shares of Heico in a research note on Thursday, August 13th. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $379.56.

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.