M.D. Sass LLC boosted its position in StandardAero, Inc. (NYSE:SARO – Free Report) by 69.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,991,537 shares of the company’s stock after purchasing an additional 816,573 shares during the quarter. StandardAero comprises about 4.5% of M.D. Sass LLC’s portfolio, making the stock its 8th biggest holding. M.D. Sass LLC’s holdings in StandardAero were worth $57,117,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. ArrowMark Colorado Holdings LLC boosted its holdings in StandardAero by 45.5% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,428,485 shares of the company’s stock valued at $66,273,000 after purchasing an additional 759,694 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of StandardAero in the third quarter valued at approximately $1,241,000. Allspring Global Investments Holdings LLC boosted its stake 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 buying an additional 1,484,755 shares during the period. Fortress Investment Group LLC boosted its stake in shares of StandardAero by 35.1% in the third quarter. Fortress Investment Group LLC now owns 945,400 shares of the company’s stock valued at $25,800,000 after buying an additional 245,400 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of StandardAero by 42.9% in the third quarter. JPMorgan Chase & Co. now owns 308,384 shares of the company’s stock valued at $8,416,000 after buying an additional 92,514 shares during the period.
StandardAero Stock Performance
SARO opened at $25.17 on Wednesday. The firm has a market cap of $8.37 billion, a P/E ratio of 28.60 and a beta of 0.97. StandardAero, Inc. has a 52-week low of $23.83 and a 52-week high of $34.48. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.59 and a current ratio of 2.12. The business’s fifty day moving average is $26.17 and its 200-day moving average is $28.02.
Insider Buying and Selling at StandardAero
In related news, insider Lewis Prebble sold 1,141 shares of the company’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $27.36, for a total transaction of $31,217.76. Following the completion of the sale, the insider directly owned 3,006 shares in the company, valued at $82,244.16. This represents a 27.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Daniel Satterfield sold 2,306 shares of the company’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $27.36, for a total value of $63,092.16. Following the sale, the chief financial officer owned 6,232 shares of the company’s stock, valued at approximately $170,507.52. This represents a 27.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 19,337 shares of company stock worth $529,060 over the last quarter.
Analysts Set New Price Targets
Several brokerages recently issued reports on SARO. Royal Bank Of Canada cut their price target on StandardAero from $37.00 to $34.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $39.00 target price on shares of StandardAero in a report on Friday, May 8th. Wall Street Zen lowered StandardAero from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Wells Fargo & Company started coverage on StandardAero in a report on Wednesday, April 1st. They set an “overweight” rating and a $32.00 target price on the stock. Finally, Morgan Stanley reduced their target price on StandardAero from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.25.
Read 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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