Norges Bank Acquires New Shares in StandardAero, Inc. $SARO

Norges Bank bought a new position in StandardAero, Inc. (NYSE:SARO) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 6,415,109 shares of the company’s stock, valued at approximately $203,038,000.

Other hedge funds have also recently made changes to their positions in the company. Carlyle Group Inc. increased its stake in shares of StandardAero by 13.6% in the second quarter. Carlyle Group Inc. now owns 152,673,891 shares of the company’s stock valued at $4,832,129,000 after buying an additional 18,321,061 shares during the period. Vanguard Group Inc. increased its position in StandardAero by 53.2% in the 1st quarter. Vanguard Group Inc. now owns 9,133,766 shares of the company’s stock valued at $243,324,000 after acquiring an additional 3,171,404 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of 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 acquiring an additional 6,471,813 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of StandardAero by 29.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 8,418,195 shares of the company’s stock worth $224,261,000 after purchasing an additional 1,902,687 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of StandardAero by 9.1% in the first quarter. Wellington Management Group LLP now owns 8,106,811 shares of the company’s stock worth $215,965,000 after purchasing an additional 678,520 shares during the last quarter.

Insider Transactions at StandardAero

In related news, insider Alex Trapp sold 73,718 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $28.06, for a total transaction of $2,068,527.08. Following the transaction, the insider directly owned 16,908 shares of the company’s stock, valued at $474,438.48. This represents a 81.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 90,626 shares of company stock worth $2,554,051 over the last 90 days.

Analysts Set New Price Targets

Several research analysts recently issued reports on SARO shares. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of StandardAero in a research report on Monday, November 24th. Truist Financial assumed coverage on StandardAero in a research note on Friday, October 10th. They issued a “buy” rating and a $35.00 price target for the company. Zacks Research upgraded StandardAero from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Barclays started coverage on StandardAero in a report on Friday, September 12th. They issued an “equal weight” rating and a $32.00 target price on the stock. Finally, Susquehanna started coverage on shares of StandardAero in a report on Wednesday, September 17th. They set a “positive” rating and a $34.00 price target for the company. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $32.43.

StandardAero Trading Down 4.0%

NYSE SARO opened at $25.09 on Tuesday. The stock has a market capitalization of $8.39 billion, a P/E ratio of 45.61 and a beta of 1.16. The business has a 50 day simple moving average of $26.91 and a 200 day simple moving average of $28.12. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.18 and a quick ratio of 1.48. StandardAero, Inc. has a one year low of $21.31 and a one year high of $31.97.

StandardAero (NYSE:SARO) last posted its quarterly 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. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.43 billion. StandardAero had a return on equity of 9.63% and a net margin of 3.15%.The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. Research analysts expect that StandardAero, Inc. will post 0.29 earnings per share for the current year.

StandardAero Profile

StandardAero, Inc provides aerospace engine aftermarket services for fixed and rotary wing aircraft in the United States, Canada, the United Kingdom, Rest of Europe, Asia, and internationally. It operates in two segments, Engine Services and Component Repair Services. The Engine Services segment provides a suite of aftermarket services, including maintenance, repair and overhaul, on-wing and field service support, asset management, and engineering and related solutions to customers in the commercial aerospace, military and helicopter, and business aviation end markets.