StandardAero (NYSE:SARO) CEO Sells $1,218,800.00 in Stock

StandardAero, Inc. (NYSE:SARO) CEO Russell Wayne Ford sold 40,000 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $30.47, for a total value of $1,218,800.00. Following the completion of the transaction, the chief executive officer directly owned 806,955 shares in the company, valued at approximately $24,587,918.85. The trade was a 4.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Russell Wayne Ford also recently made the following trade(s):

• On Wednesday, February 4th, Russell Wayne Ford sold 40,000 shares of StandardAero stock. The stock was sold at an average price of $30.12, for a total transaction of $1,204,800.00.
• On Wednesday, January 7th, Russell Wayne Ford sold 40,000 shares of StandardAero stock. The shares were sold at an average price of $30.24, for a total transaction of $1,209,600.00.
• On Monday, January 5th, Russell Wayne Ford sold 40,000 shares of StandardAero stock. The shares were sold at an average price of $30.18, for a total transaction of $1,207,200.00.

StandardAero Price Performance

Shares of SARO opened at $30.59 on Friday. The business’s 50-day moving average is $29.65 and its two-hundred day moving average is $28.06. The company has a market capitalization of $10.23 billion, a P/E ratio of 55.62 and a beta of 1.04. StandardAero, Inc. has a fifty-two week low of $21.31 and a fifty-two week high of $34.48. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.48 and a current ratio of 2.18.

StandardAero (NYSE:SARO) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.20. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.43 billion. StandardAero had a return on equity of 9.63% and a net margin of 3.15%.StandardAero’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 earnings per share. Research analysts predict that StandardAero, Inc. will post 0.29 earnings per share for the current year.

StandardAero declared that its Board of Directors has initiated a share repurchase program on Wednesday, December 10th that allows the company to buyback $450.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

SARO has been the topic of several research analyst reports. Bank of America dropped their target price on shares of StandardAero from $33.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, November 14th. Royal Bank Of Canada reiterated an “outperform” rating and set a $37.00 price target on shares of StandardAero in a research report on Thursday, January 29th. Zacks Research lowered shares of StandardAero from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. UBS Group dropped their price target on StandardAero from $35.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of StandardAero in a report on Monday, December 22nd. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, StandardAero has a consensus rating of “Hold” and a consensus target price of $34.00.

Hedge Funds Weigh In On StandardAero

A number of hedge funds have recently modified their holdings of SARO. Carlyle Group Inc. lifted its position in StandardAero by 13.6% in the second quarter. Carlyle Group Inc. now owns 152,673,891 shares of the company’s stock valued at $4,832,129,000 after buying an additional 18,321,061 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in StandardAero by 311.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 8,548,613 shares of the company’s stock worth $261,759,000 after purchasing an additional 6,471,813 shares during the period. Norges Bank acquired a new position in shares of StandardAero in the second quarter valued at approximately $203,038,000. Bessemer Group Inc. grew its holdings in shares of StandardAero by 447,114.3% in the fourth quarter. Bessemer Group Inc. now owns 3,103,667 shares of the company’s stock valued at $89,014,000 after purchasing an additional 3,102,973 shares in the last quarter. Finally, State Street Corp increased its stake in StandardAero by 90.7% during the 2nd quarter. State Street Corp now owns 6,047,097 shares of the company’s stock worth $191,391,000 after buying an additional 2,875,579 shares during the period.

StandardAero Company Profile

StandardAero is a global aerospace maintenance, repair and overhaul (MRO) provider specializing in gas turbine engines, auxiliary power units (APUs), airframe components and oil & gas rotating equipment. The company offers a full suite of technical services including engine repair and overhaul, component repair, accessory maintenance, parts manufacturing and on-site field support. Its customer base spans commercial airlines, business and general aviation operators, regional carriers, original equipment manufacturers (OEMs) and defense organizations.

With roots dating back to 1911, StandardAero has grown through strategic acquisitions and organic expansion to become one of the largest independent MRO providers in the industry.