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

FINRA relative short interest over last month (20 trading days) ?

Company financial data Financial data

Chart HEI financial data

Quarter (USD)	Jan 20	Oct 19	Jul 19	Apr 19
Revenue	506.28M	541.53M	532.32M	515.65M
Net income	121.89M	85.68M	81.1M	81.78M
Diluted EPS	0.89	0.62	0.59	0.6
Net profit margin	24.08%	15.82%	15.23%	15.86%
Operating income	110.99M	120.55M	119.41M	119.18M
Net change in cash	6.97M	-2.02M	-5.07M	6.24M
Cash on hand	63.97M	57M	59.02M	64.09M
Cost of revenue	308.23M	332.14M	319.49M	306.26M

Annual (USD)	Oct 19	Oct 18	Oct 17	Oct 16
Revenue	2.06B	1.78B	1.52B	1.38B
Net income	327.9M	259.23M	185.99M	156.19M
Diluted EPS	2.39	1.9	1.37	1.83
Net profit margin	15.95%	14.58%	12.20%	11.35%
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	$Price	#Shares	$Value	#Remaining
20 Dec 19	Carlos L Macau	Class A Common Stock	Buy	Aquire P	91.2058	1,000	91.21K	1,000
20 Dec 19	Carlos L Macau	Class A Common Stock	Buy	Aquire P	91.2053	1,000	91.21K	1,000
20 Dec 19	Carlos L Macau	Class A Common Stock	Buy	Aquire P	91.2079	1,000	91.21K	8,322
13 Dec 19	Steven M Walker	Option (Right to purchase Class A Common Stock) Class A Common Stock	Grant	Aquire A	97	6,500	630.5K	6,500
29 Oct 19	Adolfo Henriques	Common Stock	Buy	Aquire P	120.7015	950	114.67K	2,261
29 Oct 19	Eric A Mendelson	Common Stock	Buy	Aquire P	120.7015	949	114.55K	2,261
23 Oct 19	Eric A Mendelson	Class A Common Stock	Gift	Dispose G	0	12,102	0	212,683

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

Institutional ownership Q4 2019

HEI institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	530	514	+3.1%
Opened positions	87	73	+19.2%
Closed positions	71	45	+57.8%
Increased positions	183	189	-3.2%
Reduced positions	178	173	+2.9%

13F shares	Current	Prev Q	Change
Total value	148.77B	172.07B	-13.5%
Total shares	100.11M	99.28M	+0.8%
Total puts	426.5K	431.5K	-1.2%
Total calls	176.1K	213.1K	-17.4%
Total put/call ratio	2.4	2.0	+19.6%

Largest owners	Shares	Value	Change
Vanguard	11.89M	$1.16B	+5.3%
BLK BlackRock	10.08M	$1.02B	+3.6%
FMR	5.2M	$466.29M	+19.3%
STT State Street	3.19M	$324.67M	+2.4%
JHG Janus Henderson	3.13M	$285.99M	-32.7%
MS Morgan Stanley	2.53M	$236.49M	-14.6%
Kayne Anderson Rudnick Investment Management	2.3M	$205.87M	+1.2%
Renaissance Technologies	1.95M	$182.77M	+1.4%
Baillie Gifford & Co	1.47M	$136.77M	+0.7%
Geode Capital Management	1.4M	$141.6M	+3.1%

Largest transactions	Shares	Bought/sold	Change
JHG Janus Henderson	3.13M	-1.52M	-32.7%
Norges Bank	1.06M	+1.06M	NEW
FMR	5.2M	+840.88K	+19.3%
Vestcor Investment Management	638.18K	+638.18K	NEW
Vanguard	11.89M	+600.05K	+5.3%
Westfield Capital Management	20.36K	-446.84K	-95.6%
MS Morgan Stanley	2.53M	-433.79K	-14.6%
Lord, Abbett & Co.	0	-418.35K	EXIT
Fred Alger Management	475.22K	+363.04K	+323.6%
Bruderman Asset Management	2.35K	-360.66K	-99.4%

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 the first quarter of fiscal 2020 increased by 9% to $506.3 million, up from net sales of $466.1 million in the first quarter of fiscal 2019. The increase in consolidated net sales principally reflects an increase of $24.0 million (a 13% increase) to $208.4 million in net sales within the ETG as well as an increase of $13.9 million (a 5% increase) to $301.1 million in net sales within the FSG. The net sales increase in the ETG reflects net sales of $14.9 million contributed by our fiscal 2019 and 2020 acquisitions as well as organic growth of 6%. The ETG's organic growth is mainly attributable to increased demand for our defense products resulting in a net sales increase of $19.3 million partially offset by lower demand for our space products resulting in a net sales decrease of $7.5 million. The net sales increase in the FSG reflects organic growth of 4%. The FSG's organic growth is mainly attributable to increased demand and new product offerings within our aftermarket replacement parts, repair and overhaul parts and services, and specialty products product lines resulting in net sales increases of $8.8 million, $2.1 million and $1.5 million, respectively. Sales price changes were not a significant contributing factor to the ETG and FSG net sales growth in the first quarter of fiscal 2020.

Content analysis ?

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

New words: commence, commencement, criteria, deck, difficult, expedient, extend, flow, HMI, holding, identification, illuminated, implicit, inception, incremental, index, land, lighting, minimum, outbreak, package, Plant, policy, predict, prepaid, protection, Quell, readily, recent, renew, restrictive, RFI, ROU, serve, Spectralux, subsequent, supplemental, term, terminate, transient, underlying, undiscounted

Removed: acceptance, account, accounted, adjust, adjusted, advance, allocated, alternative, analog, anniversary, Apex, applying, approval, assembled, assurance, began, camera, capitalized, case, civilian, collect, commitment, commonly, conform, consolidating, controlling, cumulative, Decavo, deductibility, deduction, delivery, design, Disaggregation, disclose, distinct, divided, domestic, enacted, enforceable, entitled, equal, estimating, evidenced, expensed, experience, favorably, FDII, federal, fixed, forecasted, fourth, frame, Freebird, fulfillment, gap, gas, generated, GILTI, Global, good, government, handling, higher, hybrid, identified, ii, impacted, implementation, incorporated, incurring, independently, indirect, individual, initially, input, inventory, labor, lack, legislation, LLC, measure, Microtechnology, monolithic, multiplied, negotiated, number, obtaining, oil, open, opening, opposed, optional, ownership, performing, portfolio, portion, precision, priced, primary, production, promise, promised, qualify, range, rata, receive, reclassified, recognizing, recover, reduction, referred, reflect, relation, relief, remeasurement, rendering, repeal, resolution, resolved, restated, retained, reversal, satisfaction, science, sealing, semiconductor, sensor, separate, separately, service, shipment, shipping, Solid, SSP, SST, standalone, statutory, substance, switching, system, technology, territorial, testing, time, title, transaction, transferred, type, typically, UAV, uncertainty, uncompleted, unremitted, utilized, vary, volume, work

From filing 10-Q 2020 Q1