Expect Equity LLC acquired a new stake in StandardAero, Inc. (NYSE:SARO – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 121,378 shares of the company’s stock, valued at approximately $3,630,000. StandardAero comprises approximately 2.3% of Expect Equity LLC’s investment portfolio, making the stock its 9th biggest position.
A number of other institutional investors have also recently made changes to their positions in SARO. Comerica Bank bought a new position in shares of StandardAero in the first quarter worth approximately $26,000. Optiver Holding B.V. purchased a new stake in StandardAero during the 1st quarter valued at $51,000. Northwestern Mutual Wealth Management Co. purchased a new stake in StandardAero during the 2nd quarter valued at $55,000. Danske Bank A S bought a new stake in StandardAero in the 3rd quarter worth $82,000. Finally, Parallel Advisors LLC grew 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 acquiring an additional 2,067 shares during the last quarter.
StandardAero Trading Up 1.8%
NYSE SARO opened at $25.02 on Wednesday. The firm has a market capitalization of $8.28 billion, a PE ratio of 25.80 and a beta of 0.92. The stock’s 50 day moving average is $28.11 and its 200 day moving average is $27.58. StandardAero, Inc. has a twelve month low of $23.83 and a twelve month high of $34.48. The company has a quick ratio of 1.59, a current ratio of 2.13 and a debt-to-equity ratio of 0.84.
Analyst Ratings Changes
Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of StandardAero from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Weiss Ratings raised StandardAero from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 29th. Wall Street Zen downgraded StandardAero from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Susquehanna lowered their price target on StandardAero from $40.00 to $37.00 and set a “positive” rating for the company in a research report on Monday, May 11th. Finally, Zacks Research cut StandardAero from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.77.
View Our Latest Stock Analysis on SARO
Insider Activity
In related 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 transaction, the chief executive officer directly owned 486,955 shares of the company’s stock, valued at $14,822,910.20. This trade represents a 7.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 191,423 shares of company stock valued at $5,847,760. 2.10% of the stock is owned by company insiders.
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.
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