Jupiter Topco LLC acquired a new stake in StandardAero, Inc. (NYSE:SARO – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,265,391 shares of the company’s stock, valued at approximately $366,857,000. Jupiter Topco LLC owned 3.71% of StandardAero at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Carlyle Group Inc. purchased a new position in StandardAero during the 2nd quarter worth $2,529,998,000. Vulcan Value Partners LLC purchased a new stake in shares of StandardAero in the 4th quarter worth $13,618,000. Trinity Street Asset Management LLP purchased a new stake in shares of StandardAero in the 1st quarter worth $25,692,000. BlackRock Inc. purchased a new stake in shares of StandardAero in the 2nd quarter worth $646,128,000. Finally, M.D. Sass LLC grew its position in shares of StandardAero by 69.5% during the 4th quarter. M.D. Sass LLC now owns 1,991,537 shares of the company’s stock worth $57,117,000 after buying an additional 816,573 shares in the last quarter.
StandardAero Trading Up 1.8%
SARO opened at $25.02 on Wednesday. The company has a current ratio of 2.13, a quick ratio of 1.59 and a debt-to-equity ratio of 0.84. The firm has a market cap of $8.28 billion, a price-to-earnings ratio of 25.80 and a beta of 0.92. StandardAero, Inc. has a 12 month low of $23.83 and a 12 month high of $34.48. The stock has a fifty day moving average price of $28.11 and a 200-day moving average price of $27.58.
Insider Buying and Selling at StandardAero
In other news, CEO Russell Wayne Ford sold 20,413 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $30.56, for a total value of $623,821.28. Following the sale, the chief executive officer directly owned 295,573 shares in the company, valued at approximately $9,032,710.88. This trade represents a 6.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 191,423 shares of company stock valued at $5,847,760. 2.10% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the company. UBS Group lifted their price objective on StandardAero from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, August 7th. Weiss Ratings upgraded shares of StandardAero from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 29th. Wall Street Zen downgraded shares of StandardAero from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Truist Financial upgraded shares of StandardAero to a “strong-buy” rating in a report on Friday, May 1st. Finally, Jefferies Financial Group cut shares of StandardAero from a “buy” rating to a “hold” rating and lowered their price target for the stock from $34.00 to $30.00 in a research report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.77.
Get Our Latest Analysis on SARO
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.
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