Public Employees Retirement System of Ohio acquired a new stake in StandardAero, Inc. (NYSE:SARO – Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 65,729 shares of the company’s stock, valued at approximately $1,966,000.
Other institutional investors have also added to or reduced their stakes in the company. PenderFund Capital Management Ltd. bought a new position in StandardAero during the second quarter worth about $2,451,000. Corient Private Wealth LP purchased a new stake in shares of StandardAero during the 2nd quarter valued at approximately $351,000. Bank of America Corp DE bought a new position in StandardAero in the 2nd quarter worth approximately $178,878,000. Freestone Grove Partners LP purchased a new position in StandardAero in the 2nd quarter valued at approximately $188,000. Finally, Jupiter Topco LLC purchased a new position in StandardAero in the 2nd quarter valued at approximately $366,857,000.
StandardAero Trading Up 0.2%
Shares of StandardAero stock opened at $24.86 on Monday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.13 and a quick ratio of 1.59. StandardAero, Inc. has a 1 year low of $23.83 and a 1 year high of $34.48. The firm has a market cap of $8.23 billion, a PE ratio of 25.63 and a beta of 0.85. The company has a 50 day simple moving average of $27.66 and a two-hundred day simple moving average of $27.26.
Analysts Set New Price Targets
Several equities research analysts have issued reports on SARO shares. Morgan Stanley set a $33.00 target price on StandardAero in a research report on Monday, August 10th. Susquehanna reduced their price target on StandardAero from $40.00 to $37.00 and set a “positive” rating for the company in a research report on Monday, May 11th. Weiss Ratings upgraded StandardAero from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 29th. Zacks Research cut StandardAero from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. raised their target price on StandardAero from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. Two 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 company. According to MarketBeat.com, StandardAero presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.77.
View Our Latest Stock Analysis on StandardAero
Insider Buying and Selling
In related news, CEO Russell Ford sold 40,000 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $30.44, for a total value of $1,217,600.00. Following the transaction, the chief executive officer owned 486,955 shares of the company’s stock, valued at $14,822,910.20. This represents a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 191,423 shares of company stock valued at $5,847,760 over the last quarter. 2.10% of the stock is owned by corporate insiders.
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.
Recommended Stories
- Five stocks we like better than StandardAero
- AI Token Costs Are Changing the Hardware vs. Software Debate
- 3 ETFs That Could Move as Rate Expectations Shift
- 3 Stocks With September Catalysts Investors Shouldn’t Ignore
- Ollie’s Bargain Outlet Stock Falls on Weak Comps Despite Margin Gains
Want to see what other hedge funds are holding SARO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for StandardAero, Inc. (NYSE:SARO – Free Report).
Receive News & Ratings for StandardAero Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for StandardAero and related companies with MarketBeat.com's FREE daily email newsletter.
