Pacer Advisors Inc. Acquires New Holdings in StandardAero, Inc. $SARO

Pacer Advisors Inc. bought a new position in shares of StandardAero, Inc. (NYSE:SARO) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 22,432 shares of the company’s stock, valued at approximately $579,000.

Other institutional investors also recently modified their holdings of the company. Comerica Bank bought a new stake in StandardAero during the 1st quarter worth $26,000. Optiver Holding B.V. bought a new position in StandardAero in the first quarter valued at about $51,000. Danske Bank A S bought a new position in StandardAero in the third quarter valued at about $82,000. Parallel Advisors LLC boosted its stake in shares of StandardAero by 210.3% during the fourth quarter. Parallel Advisors LLC now owns 3,050 shares of the company’s stock valued at $87,000 after purchasing an additional 2,067 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of StandardAero during the fourth quarter worth about $105,000.

Analyst Ratings Changes

SARO has been the subject of a number of research reports. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $39.00 price objective on shares of StandardAero in a report on Friday, May 8th. Truist Financial raised shares of StandardAero to a “strong-buy” rating in a report on Friday, May 1st. Jefferies Financial Group downgraded shares of StandardAero from a “buy” rating to a “hold” rating and dropped their price target for the company from $34.00 to $30.00 in a research note on Tuesday, June 2nd. UBS Group lifted their price target on shares of StandardAero from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday. Finally, Morgan Stanley set a $33.00 price objective on shares of StandardAero in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.77.

Insider Buying and Selling at StandardAero

In other news, CEO Russell Wayne Ford sold 40,000 shares of the 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 transaction, the chief executive officer owned 486,955 shares of the company’s stock, valued at $14,822,910.20. This represents a 7.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 191,382 shares of company stock worth $5,846,530 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

StandardAero Stock Down 3.1%

Shares of NYSE SARO opened at $28.29 on Tuesday. The firm has a market cap of $9.41 billion, a PE ratio of 29.17 and a beta of 0.92. StandardAero, Inc. has a 12-month low of $23.83 and a 12-month high of $34.48. The company’s fifty day simple moving average is $27.95 and its 200 day simple moving average is $27.97. The company has a quick ratio of 1.59, a current ratio of 2.13 and a debt-to-equity ratio of 0.84.

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.