M.D. Sass LLC Purchases New Shares in StandardAero, Inc. $SARO

M.D. Sass LLC purchased a new position in shares of StandardAero, Inc. (NYSE:SARO) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,174,964 shares of the company’s stock, valued at approximately $32,065,000. StandardAero comprises approximately 2.6% of M.D. Sass LLC’s investment portfolio, making the stock its 21st biggest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SARO. Carlyle Group Inc. increased its position in shares of StandardAero by 13.6% during 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 last quarter. Parnassus Investments LLC grew its position in StandardAero by 120.9% during the third quarter. Parnassus Investments LLC now owns 1,139,581 shares of the company’s stock valued at $31,099,000 after buying an additional 623,652 shares during the period. Allspring Global Investments Holdings LLC grew its position in StandardAero by 311.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 8,548,613 shares of the company’s stock valued at $261,759,000 after buying an additional 6,471,813 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in StandardAero during the third quarter worth about $1,479,000. Finally, Envestnet Asset Management Inc. bought a new stake in StandardAero in the second quarter worth about $639,000.

Insider Activity at StandardAero

In other news, CEO Russell Wayne Ford sold 40,000 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $30.47, for a total value of $1,218,800.00. Following the transaction, the chief executive officer owned 806,955 shares of the company’s stock, valued at approximately $24,587,918.85. This represents a 4.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 120,000 shares of company stock worth $3,635,600. 1.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SARO has been the topic of several research analyst reports. UBS Group dropped their price objective on StandardAero from $35.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, January 15th. Bank of America dropped their price target on StandardAero from $33.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, November 14th. Royal Bank Of Canada reiterated an “outperform” rating and set a $37.00 price target on shares of StandardAero in a research note on Thursday, January 29th. Wall Street Zen cut StandardAero from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Susquehanna set a $38.00 price objective on shares of StandardAero in a report on Thursday, January 15th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, StandardAero has a consensus rating of “Hold” and a consensus price target of $34.00.

StandardAero Trading Down 1.2%

Shares of StandardAero stock opened at $29.53 on Friday. The company’s 50-day moving average price is $29.57 and its 200-day moving average price is $28.05. 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, Inc. has a 12-month low of $21.31 and a 12-month high of $34.48. The company has a market cap of $9.88 billion, a price-to-earnings ratio of 53.69 and a beta of 1.04.

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

StandardAero announced that its board has initiated a share repurchase program on Wednesday, December 10th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the company to purchase up to 5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board 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.