StandardAero, Inc. $SARO Shares Acquired by Alkeon Capital Management LLC

Alkeon Capital Management LLC increased its stake in shares of StandardAero, Inc. (NYSE:SARO) by 9.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,990,000 shares of the company’s stock after acquiring an additional 170,000 shares during the period. Alkeon Capital Management LLC owned approximately 0.59% of StandardAero worth $62,984,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Comerica Bank acquired a new position in shares of StandardAero during the first quarter worth $26,000. Corebridge Financial Inc. increased its stake in StandardAero by 46.8% during the 1st quarter. Corebridge Financial Inc. now owns 1,079 shares of the company’s stock worth $29,000 after buying an additional 344 shares during the period. First Horizon Advisors Inc. lifted its holdings in StandardAero by 100.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,016 shares of the company’s stock worth $32,000 after buying an additional 509 shares in the last quarter. Parallel Advisors LLC boosted its position in StandardAero by 798.1% in the 2nd quarter. Parallel Advisors LLC now owns 1,383 shares of the company’s stock valued at $44,000 after buying an additional 1,229 shares during the last quarter. Finally, KBC Group NV boosted its position in StandardAero by 32.2% in the 2nd quarter. KBC Group NV now owns 2,605 shares of the company’s stock valued at $82,000 after buying an additional 635 shares during the last quarter.

Insider Buying and Selling

In other news, insider Alex Trapp sold 73,718 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $28.06, for a total transaction of $2,068,527.08. Following the completion of the transaction, the insider directly owned 16,908 shares of the company’s stock, valued at approximately $474,438.48. This represents a 81.34% 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 the SEC website. Insiders sold 90,626 shares of company stock valued at $2,554,051 in the last three months. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Susquehanna initiated coverage on StandardAero in a research note on Wednesday, September 17th. They issued a “positive” rating and a $34.00 price target on the stock. Wall Street Zen downgraded StandardAero from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Weiss Ratings raised StandardAero from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Barclays started coverage on shares of StandardAero in a research report on Friday, September 12th. They set an “equal weight” rating and a $32.00 price target for the company. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of StandardAero in a report on Monday, November 24th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, StandardAero has a consensus rating of “Hold” and a consensus price target of $32.43.

StandardAero Stock Up 0.8%

SARO stock opened at $27.73 on Friday. The firm has a market cap of $9.27 billion, a price-to-earnings ratio of 50.42 and a beta of 1.16. StandardAero, Inc. has a 1-year low of $21.31 and a 1-year high of $31.97. The firm has a fifty day moving average price of $26.89 and a two-hundred day moving average price of $28.00. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.18 and a quick ratio of 1.48.

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

StandardAero declared that its board has initiated a share buyback plan on Wednesday, December 10th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the company to reacquire up to 5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

StandardAero Profile

StandardAero, Inc provides aerospace engine aftermarket services for fixed and rotary wing aircraft in the United States, Canada, the United Kingdom, Rest of Europe, Asia, and internationally. It operates in two segments, Engine Services and Component Repair Services. The Engine Services segment provides a suite of aftermarket services, including maintenance, repair and overhaul, on-wing and field service support, asset management, and engineering and related solutions to customers in the commercial aerospace, military and helicopter, and business aviation end markets.