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. Stockholders 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 dividend yield of 0.1%. The ex-dividend date is Friday, January 3rd.

HEICO has raised its dividend payment by an average of 7.7% annually over the last three years and has raised its dividend annually for the last 17 consecutive years. HEICO has a dividend payout ratio of 5.2% meaning its dividend is sufficiently covered by earnings. 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 Up 0.2 %

NYSE HEI traded up $0.45 during trading hours on Thursday, hitting $237.69. The company’s stock had a trading volume of 955,261 shares, compared to its average volume of 399,673. The company has a market capitalization of $32.94 billion, a PE ratio of 69.70, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. 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 52 week low of $169.70 and a 52 week high of $283.60. The company’s 50-day simple moving average is $262.18 and its two-hundred day simple moving average is $247.74.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Royal Bank of Canada upped 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. Truist Financial upped their price objective on shares of HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Robert W. Baird lifted their target price on shares of HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Morgan Stanley upped their target price on HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, Benchmark reiterated a “buy” rating and set a $245.00 price target on shares of HEICO in a report on Tuesday, August 27th. Three investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $270.20.

Insider Buying and Selling

In other news, Director Alan Schriesheim sold 332 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $201.63, for a total value of $66,941.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Laurans A. Mendelson acquired 725 shares of the firm’s 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 purchase, the chief executive officer now owns 929,984 shares in the company, valued at $244,529,992.96. This trade represents a 0.08 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 2,175 shares of company stock valued at $571,895. 8.10% of the stock is owned by insiders.

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.