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 StandardAero stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $30.12, for a total transaction of $1,204,800.00. Following the completion of the sale, the chief executive officer directly owned 726,955 shares in the company, valued at $21,895,884.60. This represents a 5.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, February 2nd, Russell Wayne Ford sold 40,000 shares of StandardAero stock. The stock was sold at an average price of $30.47, for a total transaction of $1,218,800.00.
• On Wednesday, January 7th, Russell Wayne Ford sold 40,000 shares of StandardAero stock. The shares were sold at an average price of $30.24, for a total transaction 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 transaction of $1,207,200.00.

StandardAero Price Performance

StandardAero stock traded up $1.08 during midday trading on Friday, reaching $30.59. The company had a trading volume of 3,153,605 shares, compared to its average volume of 5,297,320. The company has a market capitalization of $10.23 billion, a P/E ratio of 55.62 and a beta of 1.04. StandardAero, Inc. has a 12-month low of $21.31 and a 12-month high of $34.48. The firm’s fifty day simple moving average is $29.57 and its 200-day simple moving average is $28.05. 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 (NYSE:SARO) last announced its earnings results on Monday, November 10th. The company reported $0.20 EPS for the quarter, meeting analysts’ consensus estimates of $0.20. The business had revenue of $1.50 billion during 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 business’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 earnings per share. As a group, equities analysts anticipate that StandardAero, Inc. will post 0.29 EPS for the current year.

StandardAero declared that its board has authorized a stock buyback program on Wednesday, December 10th that allows the company to repurchase $450.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Carlyle Group Inc. increased its position in shares of StandardAero by 13.6% during the second quarter. Carlyle Group Inc. now owns 152,673,891 shares of the company’s stock valued at $4,832,129,000 after acquiring an additional 18,321,061 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in StandardAero by 311.6% in the 2nd 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 during the last quarter. Norges Bank purchased a new stake in StandardAero in the second quarter valued at approximately $203,038,000. Bessemer Group Inc. lifted its stake in StandardAero by 447,114.3% during the fourth quarter. Bessemer Group Inc. now owns 3,103,667 shares of the company’s stock worth $89,014,000 after purchasing an additional 3,102,973 shares in the last quarter. Finally, State Street Corp lifted its stake in StandardAero by 90.7% during the second quarter. State Street Corp now owns 6,047,097 shares of the company’s stock worth $191,391,000 after purchasing an additional 2,875,579 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have weighed in on SARO shares. Bank of America decreased their target price on shares of StandardAero from $33.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, November 14th. UBS Group reduced their price objective on StandardAero from $35.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, January 15th. Zacks Research cut StandardAero from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Truist Financial initiated coverage on StandardAero in a report on Friday, October 10th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $37.00 target price on shares of StandardAero in a report on Thursday, January 29th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $34.00.

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.