HEICO Co. (NYSE:HEI) to Issue $0.11 Semi-annual Dividend

HEICO Co. (NYSE:HEI) announced a semi-annual dividend on Tuesday, December 17th,Wall Street Journal reports. Investors of record on Friday, January 3rd will be given a dividend of 0.11 per share by the aerospace company on Friday, January 17th. This represents a 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% annually over the last three years and has increased its dividend annually for the last 17 consecutive years. HEICO has a payout ratio of 5.2% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of HEICO stock opened at $237.74 on Wednesday. The company’s fifty day simple moving average is $258.07 and its two-hundred day simple moving average is $248.79. HEICO has a 12-month low of $169.70 and a 12-month high of $283.60. The firm has a market cap of $32.95 billion, a PE ratio of 69.72, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63.

HEICO (NYSE:HEI) last posted its earnings results on Tuesday, December 17th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.02. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.03 billion. HEICO had a return on equity of 14.51% and a net margin of 12.64%. HEICO’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.74 earnings per share. As a group, equities analysts expect that HEICO will post 3.64 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, insider Victor H. Mendelson bought 726 shares of the company’s stock in a transaction on Friday, October 18th. The shares were acquired at an average cost of $262.94 per share, with a total value of $190,894.44. Following the completion of the acquisition, the insider now owns 1,234,950 shares of the company’s stock, valued at $324,717,753. The trade was a 0.06 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alan Schriesheim sold 332 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $201.63, for a total value of $66,941.16. The disclosure for this sale can be found here. Insiders have acquired 2,175 shares of company stock valued at $571,895 over the last quarter. Corporate insiders own 8.10% of the company’s stock.

HEICO Company Profile

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.