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 the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $30.47, for a total transaction of $1,218,800.00. Following the transaction, the chief executive officer directly owned 806,955 shares of the company’s stock, valued at $24,587,918.85. This represents a 4.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

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

StandardAero Stock Down 1.2%

SARO stock opened at $29.53 on Friday. The business has a 50 day moving average of $29.57 and a 200 day moving average of $28.05. The firm has a market cap of $9.88 billion, a PE ratio of 53.69 and a beta of 1.04. StandardAero, Inc. has a twelve month low of $21.31 and a twelve month high of $34.48. The company has a quick ratio of 1.48, a current ratio of 2.18 and a debt-to-equity ratio of 0.89.

StandardAero (NYSE:SARO) last released its earnings results on Monday, November 10th. The company reported $0.20 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 for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, research analysts forecast that StandardAero, Inc. will post 0.29 EPS for the current fiscal year.

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

Analysts Set New Price Targets

Several brokerages have issued reports on SARO. Wall Street Zen cut shares of StandardAero from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Sanford C. Bernstein restated an “outperform” rating on shares of StandardAero in a report on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of StandardAero in a research report on Monday, December 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $37.00 target price on shares of StandardAero in a report on Thursday, January 29th. Finally, Bank of America lowered their price target on StandardAero from $33.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, November 14th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, StandardAero presently has an average rating of “Hold” and an average target price of $34.00.

Hedge Funds Weigh In On StandardAero

Several hedge funds and other institutional investors have recently modified their holdings of SARO. Carlyle Group Inc. increased 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 worth $4,832,129,000 after buying an additional 18,321,061 shares in the last quarter. Parnassus Investments LLC raised its stake in StandardAero by 120.9% during the 3rd quarter. Parnassus Investments LLC now owns 1,139,581 shares of the company’s stock worth $31,099,000 after acquiring an additional 623,652 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings 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 valued at $261,759,000 after purchasing an additional 6,471,813 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of StandardAero in the third quarter worth approximately $1,479,000. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of StandardAero in the second quarter worth $639,000.

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.