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

StandardAero, Inc. (NYSE:SARO) CEO Russell Wayne Ford sold 40,000 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $30.24, for a total value of $1,209,600.00. Following the transaction, the chief executive officer owned 886,955 shares in the company, valued at $26,821,519.20. The trade was a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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 transaction of $1,207,200.00.

StandardAero Stock Up 0.5%

StandardAero stock opened at $30.78 on Friday. The company has a market capitalization of $10.29 billion, a PE ratio of 55.96 and a beta of 1.04. StandardAero, Inc. has a 12-month low of $21.31 and a 12-month high of $31.97. The firm’s fifty day moving average is $27.38 and its 200 day moving average is $27.89. 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 posted its quarterly earnings results on Monday, November 10th. The company reported $0.20 earnings per share for the quarter, meeting the consensus estimate of $0.20. StandardAero had a net margin of 3.15% and a return on equity of 9.63%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the firm posted $0.06 earnings per share. The business’s revenue was up 20.4% compared to the same quarter last year. As a group, sell-side analysts predict that StandardAero, Inc. will post 0.29 EPS for the current fiscal year.

StandardAero announced that its Board of Directors has approved a share buyback plan on Wednesday, December 10th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the company to buy up to 5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SARO. Carlyle Group Inc. increased its stake in StandardAero by 13.6% in the 2nd 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 last quarter. Vanguard Group Inc. grew its holdings in shares of StandardAero by 0.9% in the third quarter. Vanguard Group Inc. now owns 11,210,370 shares of the company’s stock valued at $305,931,000 after acquiring an additional 95,801 shares in the last quarter. Wellington Management Group LLP increased its position in shares of StandardAero by 18.2% during the third quarter. Wellington Management Group LLP now owns 10,345,564 shares of the company’s stock valued at $282,330,000 after acquiring an additional 1,593,347 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in StandardAero by 6.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,073,068 shares of the company’s stock worth $249,056,000 after acquiring an additional 524,455 shares during the period. Finally, Norges Bank bought a new stake in StandardAero during the second quarter worth $203,038,000.

Wall Street Analyst Weigh In

A number of analysts have commented on SARO shares. Truist Financial started coverage on shares of StandardAero in a research note on Friday, October 10th. They set a “buy” rating and a $35.00 price target for the company. Susquehanna began coverage on shares of StandardAero in a research report on Wednesday, September 17th. They set a “positive” rating and a $34.00 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of StandardAero in a report on Monday, December 22nd. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of StandardAero in a research report on Monday, November 24th. Finally, Bank of America decreased their price objective on StandardAero from $33.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, November 14th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, StandardAero presently has a consensus rating of “Hold” and a consensus price target of $32.43.

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.