ABN Amro Investment Solutions acquired a new stake in StandardAero, Inc. (NYSE:SARO – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 24,822 shares of the company’s stock, valued at approximately $641,000.
A number of other hedge funds have also recently modified their holdings of the stock. Comerica Bank acquired a new position in shares of StandardAero in the first quarter worth about $26,000. Danske Bank A S acquired a new position in StandardAero in the 3rd quarter worth about $82,000. Parallel Advisors LLC raised its holdings in StandardAero by 210.3% in the 4th quarter. Parallel Advisors LLC now owns 3,050 shares of the company’s stock worth $87,000 after purchasing an additional 2,067 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in StandardAero during the fourth quarter worth approximately $105,000. Finally, Brooklands Fund Management Ltd purchased a new position in StandardAero during the fourth quarter worth approximately $133,000.
StandardAero Stock Up 1.7%
NYSE SARO opened at $28.73 on Friday. The business’s fifty day simple moving average is $27.34 and its 200-day simple moving average is $28.15. The company has a quick ratio of 1.59, a current ratio of 2.12 and a debt-to-equity ratio of 0.81. The firm has a market cap of $9.55 billion, a PE ratio of 32.65 and a beta of 0.91. StandardAero, Inc. has a 52 week low of $23.83 and a 52 week high of $34.48.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on SARO. Royal Bank Of Canada decreased their target price on StandardAero from $37.00 to $34.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. BTIG Research began coverage on shares of StandardAero in a report on Thursday, April 2nd. They issued a “buy” rating and a $35.00 price target for the company. Susquehanna dropped their target price on shares of StandardAero from $40.00 to $37.00 and set a “positive” rating on the stock in a research report on Monday, May 11th. Wall Street Zen cut shares of StandardAero from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Finally, Wells Fargo & Company assumed coverage on shares of StandardAero in a research report on Wednesday, April 1st. They set an “overweight” rating and a $32.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.00.
Get Our Latest Stock Report on SARO
Insiders Place Their Bets
In other StandardAero news, CEO Russell Wayne Ford sold 40,000 shares of StandardAero stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $30.44, for a total transaction of $1,217,600.00. Following the completion of the sale, the chief executive officer directly owned 486,955 shares in the company, valued at $14,822,910.20. This trade represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by company insiders.
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.
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