Voya Investment Management LLC Lowers Stock Holdings in StandardAero, Inc. $SARO

Voya Investment Management LLC lessened its position in StandardAero, Inc. (NYSE:SARO) by 99.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,070 shares of the company’s stock after selling 1,324,738 shares during the quarter. Voya Investment Management LLC’s holdings in StandardAero were worth $329,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SARO. Corebridge Financial Inc. grew its position in StandardAero by 46.8% in the 1st quarter. Corebridge Financial Inc. now owns 1,079 shares of the company’s stock valued at $29,000 after acquiring an additional 344 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of StandardAero by 0.6% in the second quarter. Cerity Partners LLC now owns 69,758 shares of the company’s stock valued at $2,208,000 after purchasing an additional 416 shares during the period. First Horizon Advisors Inc. grew its holdings in shares of StandardAero by 100.4% in the second quarter. First Horizon Advisors Inc. now owns 1,016 shares of the company’s stock valued at $32,000 after purchasing an additional 509 shares in the last quarter. KBC Group NV grew its holdings in shares of StandardAero by 32.2% in the second quarter. KBC Group NV now owns 2,605 shares of the company’s stock valued at $82,000 after purchasing an additional 635 shares in the last quarter. Finally, Comerica Bank purchased a new stake in StandardAero during the 1st quarter worth approximately $26,000.

Insider Transactions at StandardAero

In other StandardAero news, insider Alex Trapp sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $29.21, for a total value of $292,100.00. The sale was disclosed in a document filed with the SEC, which is available through this link.

StandardAero Stock Performance

NYSE:SARO opened at $29.63 on Monday. StandardAero, Inc. has a 12 month low of $21.31 and a 12 month high of $31.97. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.18 and a quick ratio of 1.48. The firm has a market capitalization of $9.91 billion, a PE ratio of 53.87 and a beta of 1.04. The business’s fifty day moving average price is $27.19 and its 200 day moving average price is $27.84.

StandardAero (NYSE:SARO) last released its quarterly earnings data on Monday, November 10th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. StandardAero had a return on equity of 9.63% and a net margin of 3.15%.The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the firm posted $0.06 EPS. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, sell-side analysts anticipate that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Bank of America dropped their price target on shares of StandardAero from $33.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, November 14th. Zacks Research upgraded StandardAero from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Wall Street Zen cut StandardAero from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of StandardAero in a research report on Monday, December 22nd. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of StandardAero in a research report on Monday, November 24th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $32.43.

StandardAero 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.