HEICO Co. (NYSE:HEI) Increases Dividend to $0.09 Per Share

HEICO Co. (NYSE:HEI) declared a Semi-Annual dividend on Tuesday, June 8th, Zacks reports. Investors of record on Thursday, July 1st will be paid a dividend of 0.09 per share by the aerospace company on Thursday, July 15th. The ex-dividend date is Wednesday, June 30th. This is an increase from HEICO’s previous Semi-Annual dividend of $0.08.

HEICO has raised its dividend by 212.5% over the last three years and has raised its dividend every year for the last 1 years.

Shares of HEI stock opened at $148.24 on Wednesday. The company has a current ratio of 4.53, a quick ratio of 2.73 and a debt-to-equity ratio of 0.27. The stock’s fifty day moving average price is $136.30. The firm has a market capitalization of $20.07 billion, a P/E ratio of 79.27, a P/E/G ratio of 5.94 and a beta of 1.29. HEICO has a 12 month low of $92.45 and a 12 month high of $148.95.

HEICO (NYSE:HEI) last released its quarterly earnings data on Monday, May 24th. The aerospace company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. HEICO had a net margin of 15.20% and a return on equity of 12.58%. The company had revenue of $466.65 million during the quarter, compared to the consensus estimate of $441.53 million. During the same quarter in the prior year, the firm posted $0.55 earnings per share. HEICO’s revenue for the quarter was down .3% on a year-over-year basis. As a group, equities analysts expect that HEICO will post 2.2 earnings per share for the current fiscal year.

Several equities analysts have issued reports on HEI shares. Canaccord Genuity upgraded shares of HEICO from a “hold” rating to a “buy” rating in a research note on Thursday, April 22nd. Truist upped their target price on shares of HEICO from $113.00 to $120.00 in a report on Thursday, February 25th. Finally, Benchmark upped their target price on shares of HEICO from $120.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, April 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $117.88.

In related news, Director Frank J. Schwitter sold 491 shares of the stock in a transaction dated Wednesday, April 21st. The shares were sold at an average price of $135.50, for a total transaction of $66,530.50. Following the completion of the transaction, the director now directly owns 1,100 shares of the company’s stock, valued at $149,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julie Neitzel sold 978 shares of the stock in a transaction dated Wednesday, April 14th. The stock was sold at an average price of $133.84, for a total transaction of $130,895.52. Following the transaction, the director now directly owns 901 shares of the company’s stock, valued at $120,589.84. The disclosure for this sale can be found here. Corporate insiders own 8.39% 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. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.

Read More: Outstanding Shares and The Effect on Share Price

Dividend History for HEICO (NYSE:HEI)

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