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 that occurred on Wednesday, January 7th. The shares were sold at an average price of $30.24, for a total transaction of $1,209,600.00. Following the completion of the transaction, the chief executive officer owned 886,955 shares of the company’s stock, valued at $26,821,519.20. This represents a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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 stock was sold at an average price of $30.18, for a total value of $1,207,200.00.

StandardAero Stock Performance

Shares of StandardAero stock traded up $0.14 during trading hours on Friday, reaching $30.78. The company had a trading volume of 1,325,017 shares, compared to its average volume of 1,981,816. The firm has a market cap of $10.29 billion, a PE ratio of 55.96 and a beta of 1.04. StandardAero, Inc. has a one year low of $21.31 and a one year high of $31.97. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.18 and a quick ratio of 1.48. The business has a fifty day simple moving average of $27.34 and a 200 day simple moving average of $27.89.

StandardAero (NYSE:SARO) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.20. StandardAero had a return on equity of 9.63% and a net margin of 3.15%.The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the firm posted $0.06 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. On average, analysts anticipate that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

StandardAero announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 10th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the company to purchase 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.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SARO. Wall Street Zen lowered shares of StandardAero from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Weiss Ratings restated a “hold (c)” rating on shares of StandardAero in a research report on Monday, December 22nd. Zacks Research upgraded StandardAero from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Bank of America dropped their price objective on StandardAero from $33.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, November 14th. Finally, Susquehanna assumed coverage on StandardAero in a research note on Wednesday, September 17th. They issued a “positive” rating and a $34.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, StandardAero presently has a consensus rating of “Hold” and an average price target of $32.43.

Institutional Trading of StandardAero

A number of hedge funds and other institutional investors have recently modified their holdings of SARO. Carlyle Group Inc. grew its holdings 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 buying an additional 18,321,061 shares during the last quarter. Vanguard Group Inc. raised its stake in StandardAero by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 11,210,370 shares of the company’s stock valued at $305,931,000 after buying an additional 95,801 shares during the last quarter. Wellington Management Group LLP raised its stake in StandardAero by 18.2% during the 3rd quarter. Wellington Management Group LLP now owns 10,345,564 shares of the company’s stock valued at $282,330,000 after buying an additional 1,593,347 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of StandardAero by 6.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,073,068 shares of the company’s stock worth $249,056,000 after buying an additional 524,455 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of StandardAero in the second quarter worth $203,038,000.

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.