Russell Wayne Ford Sells 40,000 Shares of StandardAero (NYSE:SARO) Stock

StandardAero, Inc. (NYSE:SARO) CEO Russell Wayne Ford sold 40,000 shares of StandardAero stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $30.24, for a total transaction of $1,209,600.00. Following the completion of the transaction, the chief executive officer owned 886,955 shares in the company, valued at approximately $26,821,519.20. This trade represents a 4.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• 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 value of $1,207,200.00.

StandardAero Stock Performance

SARO opened at $30.78 on Friday. The firm has a market cap of $10.29 billion, a PE ratio of 55.96 and a beta of 1.04. The company has a quick ratio of 1.48, a current ratio of 2.18 and a debt-to-equity ratio of 0.89. The business has a fifty day simple moving average of $27.38 and a 200-day simple moving average of $27.88. StandardAero, Inc. has a fifty-two week low of $21.31 and a fifty-two week high of $31.97.

StandardAero (NYSE:SARO) last announced its 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 return on equity of 9.63% and a net margin of 3.15%.The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the firm earned $0.06 earnings per share. StandardAero’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities analysts predict that StandardAero, Inc. will post 0.29 EPS for the current fiscal year.

StandardAero declared that its board has authorized a stock repurchase program on Wednesday, December 10th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

SARO has been the topic of several research analyst reports. Bank of America lowered their price objective 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. Susquehanna began coverage on StandardAero in a research report on Wednesday, September 17th. They issued a “positive” rating and a $34.00 target price for the company. Truist Financial began coverage on StandardAero in a report on Friday, October 10th. They set a “buy” rating and a $35.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of StandardAero in a research report on Monday, December 22nd. Finally, Wall Street Zen lowered StandardAero from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $32.43.

Institutional Trading of StandardAero

Institutional investors have recently bought and sold shares of the company. Cerity Partners LLC increased its position in StandardAero by 0.6% in the 2nd quarter. Cerity Partners LLC now owns 69,758 shares of the company’s stock worth $2,208,000 after purchasing an additional 416 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of StandardAero by 100.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,016 shares of the company’s stock valued at $32,000 after buying an additional 509 shares in the last quarter. KBC Group NV increased its holdings in StandardAero by 32.2% in the second quarter. KBC Group NV now owns 2,605 shares of the company’s stock worth $82,000 after buying an additional 635 shares during the last quarter. PNC Financial Services Group Inc. raised its position in StandardAero by 20.5% during the third quarter. PNC Financial Services Group Inc. now owns 4,411 shares of the company’s stock valued at $120,000 after acquiring an additional 751 shares in the last quarter. Finally, Comerica Bank acquired a new stake in StandardAero in the first quarter valued at approximately $26,000.

About StandardAero

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.