State of New Jersey Common Pension Fund D Acquires New Position in StandardAero, Inc. $SARO

State of New Jersey Common Pension Fund D bought a new position in StandardAero, Inc. (NYSE:SARO) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 79,161 shares of the company’s stock, valued at approximately $2,160,000.

A number of other institutional investors also recently modified their holdings of SARO. Comerica Bank purchased a new stake in shares of StandardAero during the first quarter worth $26,000. State of Wyoming acquired a new position in StandardAero in the 3rd quarter worth about $27,000. First Horizon Advisors Inc. increased its position in StandardAero by 100.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,016 shares of the company’s stock worth $32,000 after purchasing an additional 509 shares during the last quarter. First Horizon Corp purchased a new stake in shares of StandardAero during the 3rd quarter worth about $34,000. Finally, KBC Group NV lifted its holdings in shares of StandardAero by 32.2% during the 2nd quarter. KBC Group NV now owns 2,605 shares of the company’s stock valued at $82,000 after buying an additional 635 shares during the last quarter.

Insider Transactions at StandardAero

In other StandardAero news, CEO Russell Wayne Ford sold 40,000 shares of the company’s stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 160,000 shares of company stock worth $4,840,400 in the last three months.

Analyst Ratings Changes

A number of research firms recently commented on SARO. Royal Bank Of Canada restated an “outperform” rating and issued a $37.00 price objective on shares of StandardAero in a report on Thursday, January 29th. UBS Group cut their price target on shares of StandardAero from $35.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of StandardAero in a research note on Monday, December 22nd. Susquehanna set a $38.00 target price on shares of StandardAero in a research report on Thursday, January 15th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of StandardAero in a research report on Monday, November 24th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $34.00.

StandardAero Price Performance

NYSE SARO opened at $31.39 on Tuesday. StandardAero, Inc. has a 1 year low of $21.31 and a 1 year high of $34.48. The company has a fifty day simple moving average of $30.59 and a 200 day simple moving average of $28.25. The company has a current ratio of 2.18, a quick ratio of 1.48 and a debt-to-equity ratio of 0.89. The company has a market cap of $10.50 billion, a P/E ratio of 57.08 and a beta of 1.04.

StandardAero announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 10th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the company to reacquire up to 5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

StandardAero 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.