Police & Firemen s Retirement System of New Jersey Increases Stock Position in StandardAero, Inc. $SARO

Police & Firemen s Retirement System of New Jersey grew its position in shares of StandardAero, Inc. (NYSE:SARO) by 54.7% in the second quarter, HoldingsChannel reports. The firm owned 54,514 shares of the company’s stock after buying an additional 19,278 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in StandardAero were worth $1,725,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of StandardAero by 54.8% in the first quarter. Bank of New York Mellon Corp now owns 248,495 shares of the company’s stock worth $6,620,000 after buying an additional 87,918 shares in the last quarter. CWM LLC bought a new stake in StandardAero in the 1st quarter worth approximately $105,000. Victory Capital Management Inc. increased its stake in StandardAero by 158.5% in the 1st quarter. Victory Capital Management Inc. now owns 39,257 shares of the company’s stock worth $1,046,000 after acquiring an additional 24,071 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of StandardAero during the 1st quarter worth approximately $424,000. Finally, Readystate Asset Management LP bought a new position in shares of StandardAero during the 1st quarter valued at approximately $266,000.

StandardAero Stock Down 3.5%

NYSE SARO opened at $24.31 on Friday. The company has a quick ratio of 1.48, a current ratio of 2.18 and a debt-to-equity ratio of 0.89. StandardAero, Inc. has a 52 week low of $21.31 and a 52 week high of $31.97. The firm has a market capitalization of $8.13 billion and a price-to-earnings ratio of 44.19. The company has a fifty day moving average of $27.20 and a two-hundred day moving average of $28.28.

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

Insider Transactions at StandardAero

In other StandardAero news, insider Alex Trapp sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $29.21, for a total transaction of $292,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 90,626 shares of company stock valued at $2,554,051 over the last ninety days. 1.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Truist Financial started coverage on shares of StandardAero in a report on Friday, October 10th. They issued a “buy” rating and a $35.00 target price for the company. Bank of America lowered their price objective on shares of StandardAero from $33.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, November 14th. Barclays assumed coverage on shares of StandardAero in a research note on Friday, September 12th. They issued an “equal weight” rating and a $32.00 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of StandardAero in a research report on Monday. Finally, Zacks Research raised shares of StandardAero from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $32.43.

StandardAero Company Profile

StandardAero, Inc provides aerospace engine aftermarket services for fixed and rotary wing aircraft in the United States, Canada, the United Kingdom, Rest of Europe, Asia, and internationally. It operates in two segments, Engine Services and Component Repair Services. The Engine Services segment provides a suite of aftermarket services, including maintenance, repair and overhaul, on-wing and field service support, asset management, and engineering and related solutions to customers in the commercial aerospace, military and helicopter, and business aviation end markets.