StandardAero, Inc. $SARO Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its holdings in shares of StandardAero, Inc. (NYSE:SARO) by 8.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,994,841 shares of the company’s stock after buying an additional 159,505 shares during the quarter. Teacher Retirement System of Texas owned 0.60% of StandardAero worth $54,439,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SARO. Cerity Partners LLC raised its stake in shares of StandardAero by 0.6% in the second quarter. Cerity Partners LLC now owns 69,758 shares of the company’s stock valued at $2,208,000 after acquiring an additional 416 shares in the last quarter. First Horizon Advisors Inc. raised its position in StandardAero by 100.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,016 shares of the company’s stock valued at $32,000 after purchasing an additional 509 shares in the last quarter. KBC Group NV boosted its stake in shares of StandardAero by 32.2% in the 2nd quarter. KBC Group NV now owns 2,605 shares of the company’s stock valued at $82,000 after buying an additional 635 shares during the period. Comerica Bank acquired a new position in shares of StandardAero during the first quarter worth about $26,000. Finally, CWM LLC increased its stake in shares of StandardAero by 46.7% during the third quarter. CWM LLC now owns 3,234 shares of the company’s stock worth $88,000 after buying an additional 1,029 shares during the period.

Wall Street Analysts Forecast Growth

SARO has been the subject of several analyst reports. Bank of America lowered their price target on shares of StandardAero from $33.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, November 14th. Zacks Research upgraded StandardAero from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Susquehanna set a $38.00 price objective on StandardAero in a report on Thursday, January 15th. Truist Financial assumed coverage on StandardAero in a report on Friday, October 10th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of StandardAero in a research note on Monday, November 24th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, StandardAero has an average rating of “Hold” and a consensus target price of $33.57.

Insiders Place Their Bets

In other StandardAero news, CEO Russell Wayne Ford sold 40,000 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $30.24, for a total transaction of $1,209,600.00. Following the transaction, the chief executive officer directly owned 886,955 shares of the company’s stock, valued at approximately $26,821,519.20. This trade represents a 4.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.90% of the stock is currently owned by corporate insiders.

StandardAero Stock Up 1.1%

StandardAero stock opened at $32.29 on Friday. The company has a market capitalization of $10.80 billion, a P/E ratio of 58.71 and a beta of 1.04. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.48 and a current ratio of 2.18. StandardAero, Inc. has a fifty-two week low of $21.31 and a fifty-two week high of $34.48. The stock has a 50-day simple moving average of $28.31 and a 200-day simple moving average of $27.98.

StandardAero (NYSE:SARO) last released its quarterly earnings results on Monday, November 10th. The company reported $0.20 EPS for the quarter, hitting the consensus estimate of $0.20. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.43 billion. StandardAero had a return on equity of 9.63% and a net margin of 3.15%.The firm’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 earnings per share. Equities research analysts expect that StandardAero, Inc. will post 0.29 earnings per share for the current year.

StandardAero declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 10th that authorizes the company to repurchase $450.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

StandardAero Company 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.