HEI Heico Corp

HEICO Corporation through its subsidiaries (collectively, “HEICO,” “we,” “us,” “our” or the “Company”) believes it is the world’s largest manufacturer of Federal Aviation Administration (“FAA”)-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers (“OEMs”) and their subcontractors. HEICO also believes it is a leading manufacturer of various types of electronic equipment for the aviation, defense, space, medical, telecommunications and electronics industries.

Company profile

Ticker

HEI

Exchange

NYSE

Website

www.heico.com

CEO

Laurans A. Mendelson

Incorporated in

Florida

Location

Florida

Fiscal year end

Oct 31

Sector

Electronic Technology > Aerospace & Defense

Industry (SEC)

Aircraft Engines & Engine Parts

United Technologies • Honeywell International • SIFCO Industries • TAT Technologies ...

SEC CIK

0000046619

Corporate docs

Articles of Incorporation & Bylaws

IRS number

650341002

HEI stock data

S&P 500

1M 1Y 2Y 5Y

Calendar

28 May 20

15 Jul 20

31 Oct 20

News

Company financial data Financial data

Chart HEI financial data

Quarter (USD)	Apr 20	Jan 20	Oct 19	Jul 19
Revenue	468.15M	506.28M	541.53M	532.32M
Net income	80.91M	129.8M	92.57M	89.06M
Diluted EPS	0.55	0.89	0.62	0.59
Net profit margin	17.28%	25.64%	17.09%	16.73%
Operating income	108.16M	110.99M	120.55M	119.41M
Net change in cash	282.82M	6.97M	-2.02M	-5.07M
Cash on hand	346.79M	63.97M	57M	59.02M
Cost of revenue	289.26M	308.23M	332.14M	319.49M

Annual (USD)	Oct 19	Oct 18	Oct 17	Oct 16
Revenue	2.06B	1.78B	1.52B	1.38B
Net income	359.74M	285.69M	207.66M	176.15M
Diluted EPS	2.39	1.9	1.37	1.83
Net profit margin	17.50%	16.07%	13.62%	12.80%
Operating income	457.1M	376.25M	306.66M	265.35M
Net change in cash	-2.6M	7.53M	9.11M	9.35M
Cash on hand	57M	59.6M	52.07M	42.96M
Cost of revenue	1.24B	1.09B	950.09M	860.77M

Financial data from Heico earnings reports

Recent insider trades

HEI insider ownership history Insider history

Date	Owner	Security	Transaction	Code	10b5-1	$Price	#Shares	$Value	#Remaining
8 Jul 20	Schriesheim Alan	Class A Common Stock	Sell	Dispose S	No	80.0431	2,000	160.09K	54,112
22 Jun 20	Mendelson Laurans A	Class A Common Stock	Sell	Dispose S	No	88.0232	9,112	802.07K	14,023
22 Jun 20	Mendelson Victor H	Class A Common Stock	Sell	Dispose S	No	88.0232	9,114	802.24K	175,747
19 Jun 20	Mendelson Victor H	Class A Common Stock	Sell	Dispose S	No	90.102	18,739	1.69M	184,861
19 Jun 20	Mendelson Laurans A	Class A Common Stock	Sell	Dispose S	No	90.102	18,740	1.69M	23,135
18 Jun 20	Mendelson Laurans A	Class A Common Stock	Sell	Dispose S	No	91.1533	22,148	2.02M	41,875
17 Jun 20	Mendelson Laurans A	Class A Common Stock	Sell	Dispose S	No	91.3635	50,000	4.57M	64,023
3 Jun 20	Mendelson Laurans A	Class A Common Stock	Gift	Dispose G	No	0	2,222	0	12,656
2 Jun 20	Schriesheim Alan	Class A Common Stock	Gift	Dispose G	No	0	700	0	56,112
4 Mar 20	Schriesheim Alan	Class A Common Stock	Gift	Dispose G	No	0	1,000	0	56,812

Data from 3, 4 and 5 filings. Stock values as filed, not updated for current price.

Institutional ownership Q1 2020

HEI institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	470	441	+6.6%
Opened positions	141	70	+101.4%
Closed positions	112	145	-22.8%
Increased positions	222	76	+192.1%
Reduced positions	77	243	-68.3%

13F shares	Current	Prev Q	Change
Total value	147.94B	81.65B	+81.2%
Total shares	101.48M	35.18M	+188.5%
Total puts	226.9K	420.1K	-46.0%
Total calls	131.7K	176.1K	-25.2%
Total put/call ratio	1.7	2.4	-27.8%

Largest owners	Shares	Value	Change
Vanguard	11.91M	$801.49M	+223.1%
BLK BlackRock	9.44M	$652.66M	+103.1%
MS^L Morgan Stanley	5.32M	$343.54M	+1245.6%
FMR	5.08M	$324.44M	+36520.2%
STT State Street	3.28M	$227.78M	+105.5%
JHG Janus Henderson	2.47M	$160.18M	+1010.4%
Kayne Anderson Rudnick Investment Management	2.47M	$157.95M	NEW
American Century Companies	2.4M	$175M	+1061.1%
Capital International Investors	1.7M	$120.06M	NEW
Select Equity	1.53M	$109.84B	+194.2%

Largest transactions	Shares	Bought/sold	Change
Vanguard	11.91M	+8.22M	+223.1%
FMR	5.08M	+5.06M	+36520.2%
MS^L Morgan Stanley	5.32M	+4.93M	+1245.6%
BLK BlackRock	9.44M	+4.79M	+103.1%
Kayne Anderson Rudnick Investment Management	2.47M	+2.47M	NEW
JHG Janus Henderson	2.47M	+2.25M	+1010.4%
American Century Companies	2.4M	+2.2M	+1061.1%
Capital International Investors	1.7M	+1.7M	NEW
STT State Street	3.28M	+1.69M	+105.5%
WCM Investment Management	1.47M	+1.47M	NEW

Data from 13F filings. Stock values as filed, not updated for current price. Long positions only.

Financial report summary

Management Discussion

Our consolidated net sales in fiscal 2019 increased by 16% to a record $2,055.6 million, up from net sales of $1,777.7 million in fiscal 2018. The increase in consolidated net sales principally reflects an increase of $132.7 million (a 19% increase) to a record $834.5 million in net sales within the ETG and an increase of $142.2 million (a 13% increase) to a record $1,240.2 million in net sales within the FSG. The net sales increase in the ETG reflects organic growth of 10% and net sales of $66.1 million contributed by fiscal 2019 and 2018 acquisitions. The ETG's organic growth is mainly attributable to increased demand for our defense and aerospace products resulting in net sales increases of $60.6 million and $14.0 million, respectively. The net sales increase in the FSG principally reflects organic growth of 13%. The FSG's organic growth is mainly attributable to increased demand and new product offerings within our aftermarket replacement parts, specialty products and repair and overhaul services product lines resulting in net sales increases of $95.4 million, $31.5 million and $10.8 million, respectively. Sales price changes were not a significant contributing factor to the ETG and FSG net sales growth in fiscal 2019.

Content analysis ?

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. junior Avg

New words: accelerated, body, chain, chapter, check, cleaning, complying, conducting, confidently, context, crucial, cushion, decline, disease, disrupt, doubtful, economy, enable, ensure, epidemic, establishing, excluded, experienced, experiencing, exposed, filer, Fortunately, frequently, full, fundamentally, globe, half, hand, health, healthy, impossible, indefinite, Interactive, large, magnitude, mandated, March, mark, mitigate, moderated, nominal, notably, ongoing, onset, pandemic, par, personal, precautionary, preceding, presence, prevented, priority, profoundly, public, pursuant, quarantine, recovery, registered, registrant, Regulation, requested, response, return, robust, Rule, safety, section, shell, shorter, significantly, smaller, spread, staffing, stage, staggering, sterilization, stronger, submit, submitted, supply, supplying, temperature, temporarily, temporary, transportation, unknown, volatility, Washington, withdrew, world, worldwide

Removed: aggressive, ahead, developing, driven, flexibility, maintaining, penetration, received, redeemed, strategy, strength, visibility

From filing 10-Q 2020 Q2