Heico (NYSE:HEI) Announces Earnings Results

Heico (NYSE:HEI) posted its quarterly earnings data on Wednesday. The aerospace company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.09, Zacks reports. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. Heico had a return on equity of 16.80% and a net margin of 15.39%.

Heico Stock Down 1.6%

Shares of NYSE HEI traded down $5.71 during mid-day trading on Wednesday, reaching $344.93. 937,719 shares of the company’s stock traded hands, compared to its average volume of 484,835. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.83 and a quick ratio of 1.28. The business has a 50-day simple moving average of $336.73 and a 200 day simple moving average of $322.65. The stock has a market cap of $48.07 billion, a P/E ratio of 70.25, a PEG ratio of 3.82 and a beta of 1.01. Heico has a 1-year low of $227.12 and a 1-year high of $361.69.

Heico Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Tuesday, January 20th. Stockholders of record on Monday, January 5th were issued a dividend of $0.12 per share. This represents a dividend yield of 7.0%. The ex-dividend date was Monday, January 5th. Heico’s dividend payout ratio (DPR) is currently 4.89%.

Analysts Set New Price Targets

Several equities research analysts recently commented on HEI shares. Wall Street Zen cut Heico from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Stifel Nicolaus set a $370.00 price objective on shares of Heico and gave the stock a “buy” rating in a research report on Monday, December 22nd. UBS Group reiterated a “neutral” rating and issued a $371.00 price objective (up from $359.00) on shares of Heico in a research note on Monday, December 22nd. Truist Financial increased their target price on shares of Heico from $366.00 to $391.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Heico in a report on Monday, December 29th. Ten research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Heico has a consensus rating of “Moderate Buy” and a consensus target price of $364.43.

Hedge Funds Weigh In On Heico

Hedge funds have recently added to or reduced their stakes in the stock. GM Advisory Group LLC grew its stake in shares of Heico by 1.2% during the fourth quarter. GM Advisory Group LLC now owns 2,985 shares of the aerospace company’s stock valued at $966,000 after buying an additional 36 shares during the last quarter. Coastal Bridge Advisors LLC boosted its holdings in Heico by 4.1% during the 4th quarter. Coastal Bridge Advisors LLC now owns 1,246 shares of the aerospace company’s stock valued at $403,000 after acquiring an additional 49 shares during the period. IFC & Insurance Marketing Inc. purchased a new stake in Heico during the 4th quarter valued at about $26,000. Birchwood Financial Partners Inc. bought a new position in Heico during the 4th quarter worth approximately $32,000. Finally, Vise Technologies Inc. increased its stake in Heico by 17.3% in the 4th quarter. Vise Technologies Inc. now owns 765 shares of the aerospace company’s stock worth $248,000 after purchasing an additional 113 shares during the period. Institutional investors and hedge funds 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.