Bessemer Group Inc. lifted its holdings in StandardAero, Inc. (NYSE:SARO – Free Report) by 54.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 4,798,854 shares of the company’s stock after purchasing an additional 1,695,187 shares during the quarter. Bessemer Group Inc.’s holdings in StandardAero were worth $123,953,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Vulcan Value Partners LLC purchased a new stake in StandardAero in the 4th quarter worth $13,618,000. Allspring Global Investments Holdings LLC lifted its holdings in StandardAero by 16.4% during 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 purchasing an additional 1,484,755 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of StandardAero by 5.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,465,939 shares of the company’s stock valued at $99,403,000 after purchasing an additional 179,930 shares during the period. M.D. Sass LLC increased its stake in shares of StandardAero by 69.5% during the fourth quarter. M.D. Sass LLC now owns 1,991,537 shares of the company’s stock worth $57,117,000 after purchasing an additional 816,573 shares in the last quarter. Finally, Trinity Street Asset Management LLP acquired a new position in shares of StandardAero during the 1st quarter worth about $25,692,000.
StandardAero Price Performance
Shares of SARO opened at $26.69 on Friday. The company has a market cap of $8.87 billion, a P/E ratio of 30.33 and a beta of 0.91. StandardAero, Inc. has a fifty-two week low of $23.83 and a fifty-two week high of $34.48. The company has a quick ratio of 1.59, a current ratio of 2.12 and a debt-to-equity ratio of 0.81. The firm’s 50 day moving average price is $27.21 and its 200 day moving average price is $28.19.
Analyst Ratings Changes
SARO has been the topic of several research analyst reports. Zacks Research cut StandardAero from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Susquehanna reduced their price objective on StandardAero from $40.00 to $37.00 and set a “positive” rating for the company in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $39.00 price objective on shares of StandardAero in a report on Friday, May 8th. UBS Group raised shares of StandardAero from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $35.00 to $34.00 in a report on Monday, May 11th. Finally, Morgan Stanley set a $31.00 target price on shares of StandardAero in a research report on Wednesday. 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 stock. According to MarketBeat, StandardAero currently has an average rating of “Moderate Buy” and an average target price of $34.00.
View Our Latest Analysis on StandardAero
Insider Activity
In related news, CEO Russell Wayne Ford sold 40,000 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $30.44, for a total transaction of $1,217,600.00. Following the completion of the transaction, the chief executive officer owned 486,955 shares in the company, valued at approximately $14,822,910.20. The trade was a 7.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.
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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