Insider Selling: StandardAero (NYSE:SARO) CEO Sells 40,000 Shares of Stock

StandardAero, Inc. (NYSE:SARO) CEO Russell Wayne Ford sold 40,000 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $30.12, for a total value of $1,204,800.00. Following the transaction, the chief executive officer directly owned 726,955 shares in the company, valued at approximately $21,895,884.60. The trade was a 5.22% decrease in their position. 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, February 2nd, Russell Wayne Ford sold 40,000 shares of StandardAero stock. The stock was sold at an average price of $30.47, for a total transaction of $1,218,800.00.
• On Wednesday, January 7th, Russell Wayne Ford sold 40,000 shares of StandardAero stock. The stock was sold at an average price of $30.24, for a total transaction of $1,209,600.00.
• On Monday, January 5th, Russell Wayne Ford sold 40,000 shares of StandardAero stock. The shares were sold at an average price of $30.18, for a total transaction of $1,207,200.00.

StandardAero Stock Up 3.7%

StandardAero stock traded up $1.08 during mid-day trading on Friday, reaching $30.59. 3,153,605 shares of the company’s stock were exchanged, compared to its average volume of 5,297,320. The company has a quick ratio of 1.48, a current ratio of 2.18 and a debt-to-equity ratio of 0.89. StandardAero, Inc. has a twelve month low of $21.31 and a twelve month high of $34.48. The company has a market cap of $10.23 billion, a P/E ratio of 55.62 and a beta of 1.04. The company has a fifty day moving average of $29.57 and a 200-day moving average of $28.05.

StandardAero (NYSE:SARO) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 period last year, the firm earned $0.06 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. Sell-side analysts expect that StandardAero, Inc. will post 0.29 EPS for the current year.

StandardAero announced that its board has authorized a share buyback program on Wednesday, December 10th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Zacks Research lowered shares of StandardAero from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Bank of America cut their price target on StandardAero from $33.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, November 14th. Truist Financial began coverage on StandardAero in a research report on Friday, October 10th. They set a “buy” rating and a $35.00 price objective for the company. Sanford C. Bernstein restated an “outperform” rating on shares of StandardAero in a research note on Monday, November 24th. Finally, Wall Street Zen downgraded StandardAero from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $34.00.

Institutional Trading of StandardAero

Several institutional investors and hedge funds have recently made changes to their positions in the company. Carlyle Group Inc. boosted its position in shares of StandardAero by 13.6% in the 2nd quarter. Carlyle Group Inc. now owns 152,673,891 shares of the company’s stock valued at $4,832,129,000 after purchasing an additional 18,321,061 shares during the period. Vanguard Group Inc. lifted its stake in StandardAero by 0.9% in the third 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. Allspring Global Investments Holdings LLC boosted its holdings in shares of StandardAero by 16.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 10,557,823 shares of the company’s stock valued at $312,934,000 after acquiring an additional 1,484,755 shares during the period. Wellington Management Group LLP grew its position in shares of StandardAero by 18.2% during the third quarter. Wellington Management Group LLP now owns 10,345,564 shares of the company’s stock worth $282,330,000 after acquiring an additional 1,593,347 shares during the last quarter. Finally, Norges Bank purchased a new stake in StandardAero in the 2nd quarter valued at $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.