Massachusetts Financial Services Co. MA Has $89.68 Million Stock Holdings in StandardAero, Inc. $SARO

Massachusetts Financial Services Co. MA lowered its holdings in StandardAero, Inc. (NYSE:SARO) by 13.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,286,009 shares of the company’s stock after selling 518,029 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.98% of StandardAero worth $89,675,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Comerica Bank acquired a new position in shares of StandardAero during the first quarter worth approximately $26,000. Royal Bank of Canada increased its position in StandardAero by 418.8% during the first quarter. Royal Bank of Canada now owns 138,268 shares of the company’s stock worth $3,682,000 after acquiring an additional 111,617 shares during the period. AQR Capital Management LLC acquired a new position in StandardAero during the 1st quarter valued at $521,000. Goldman Sachs Group Inc. bought a new stake in StandardAero in the 1st quarter valued at $6,821,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in StandardAero in the 1st quarter valued at $12,343,000.

Insider Transactions at StandardAero

In other StandardAero news, CEO Russell Wayne Ford sold 40,000 shares of StandardAero stock in a transaction on Wednesday, January 7th. The stock was 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 directly owned 886,955 shares of the company’s stock, valued at approximately $26,821,519.20. This trade represents a 4.32% 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 this link.

Analyst Ratings Changes

Several research firms recently weighed in on SARO. Sanford C. Bernstein reiterated an “outperform” rating on shares of StandardAero in a research note on Monday, November 24th. Zacks Research raised StandardAero from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Bank of America decreased their price objective on StandardAero from $33.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, November 14th. Susquehanna set a $38.00 price objective on StandardAero in a research report on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of StandardAero in a research report on Monday, December 22nd. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, StandardAero presently has a consensus rating of “Hold” and a consensus price target of $33.57.

StandardAero Trading Down 1.1%

SARO stock opened at $32.12 on Wednesday. StandardAero, Inc. has a 1-year low of $21.31 and a 1-year high of $34.48. The firm has a market cap of $10.74 billion, a P/E ratio of 58.39 and a beta of 1.04. The business’s 50 day moving average is $28.07 and its 200-day moving average is $27.92. The company has a current ratio of 2.18, a quick ratio of 1.48 and a debt-to-equity ratio of 0.89.

StandardAero (NYSE:SARO) last issued its 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 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%.StandardAero’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS. Equities analysts anticipate that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

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

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.