Deutsche Bank Aktiengesellschaft Raises HEICO (NYSE:HEI) Price Target to $271.00

HEICO (NYSE:HEI) had its price target upped by Deutsche Bank Aktiengesellschaft from $235.00 to $271.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the aerospace company’s stock.

HEI has been the subject of a number of other reports. Barclays began coverage on shares of HEICO in a research note on Monday, August 19th. They set an equal weight rating and a $250.00 price objective for the company. Truist Financial increased their price target on shares of HEICO from $248.00 to $264.00 and gave the stock a buy rating in a research report on Wednesday, August 28th. Stifel Nicolaus increased their price target on shares of HEICO from $250.00 to $280.00 and gave the stock a buy rating in a research report on Tuesday, August 27th. Benchmark reissued a buy rating and issued a $245.00 price target on shares of HEICO in a research report on Tuesday, August 27th. Finally, Royal Bank of Canada increased their price target on shares of HEICO from $250.00 to $272.00 and gave the stock an outperform rating in a research report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, HEICO has a consensus rating of Moderate Buy and an average target price of $259.67.

HEICO Price Performance

HEI stock opened at $249.43 on Wednesday. The company has a current ratio of 3.30, a quick ratio of 1.57 and a debt-to-equity ratio of 0.63. HEICO has a one year low of $155.42 and a one year high of $259.04. The firm has a market capitalization of $34.55 billion, a PE ratio of 78.44, a P/E/G ratio of 3.72 and a beta of 1.22. The firm has a 50-day moving average of $235.90 and a two-hundred day moving average of $215.88.

HEICO (NYSE:HEI) last posted its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The company had revenue of $992.20 million during the quarter, compared to analyst estimates of $995.34 million. During the same period in the prior year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was up 37.3% on a year-over-year basis. On average, analysts forecast that HEICO will post 3.62 earnings per share for the current year.

HEICO Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were issued a $0.11 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a yield of 0.1%. This is an increase from HEICO’s previous Semi-Annual dividend of $0.07. HEICO’s dividend payout ratio is currently 6.92%.

Insider Buying and Selling

In related news, insider Eric A. Mendelson sold 8,864 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $180.54, for a total value of $1,600,306.56. Following the transaction, the insider now owns 222,401 shares in the company, valued at $40,152,276.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Frank J. Schwitter purchased 475 shares of the stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $252.26 per share, for a total transaction of $119,823.50. Following the completion of the acquisition, the director now directly owns 1,730 shares in the company, valued at approximately $436,409.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Eric A. Mendelson sold 8,864 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $180.54, for a total value of $1,600,306.56. Following the transaction, the insider now owns 222,401 shares in the company, valued at approximately $40,152,276.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,206 shares of company stock worth $15,571,927. Insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On HEICO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Andra AP fonden acquired a new position in HEICO during the second quarter valued at approximately $45,000. Center for Financial Planning Inc. acquired a new position in HEICO during the second quarter valued at approximately $52,000. American National Bank acquired a new position in HEICO during the second quarter valued at approximately $66,000. Strategic Financial Concepts LLC acquired a new position in HEICO during the second quarter valued at approximately $67,000. Finally, Psagot Value Holdings Ltd. Israel acquired a new position in HEICO during the fourth quarter valued at approximately $70,000. Institutional investors and hedge funds 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.