Thornburg Investment Management Inc. Acquires Shares of 194,295 StandardAero, Inc. (NYSE:SARO)

Thornburg Investment Management Inc. acquired a new stake in shares of StandardAero, Inc. (NYSE:SARO) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 194,295 shares of the company’s stock, valued at approximately $5,176,000. Thornburg Investment Management Inc. owned approximately 0.06% of StandardAero at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new position in shares of StandardAero during the fourth quarter worth $183,924,000. Carlyle Group Inc. acquired a new position in shares of StandardAero during the fourth quarter worth $165,294,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of StandardAero during the fourth quarter worth $161,324,000. Price T Rowe Associates Inc. MD acquired a new position in shares of StandardAero during the fourth quarter worth $155,829,000. Finally, Vanguard Group Inc. acquired a new stake in StandardAero in the fourth quarter valued at $147,628,000.

Insider Activity

In related news, major shareholder Private Ltd Gic sold 5,524,862 shares of the firm’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $27.30, for a total value of $150,828,732.60. Following the transaction, the insider owned 35,292,362 shares of the company’s stock, valued at approximately $963,481,482.60. This trade represents a 13.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SARO. Wall Street Zen downgraded StandardAero from a “buy” rating to a “hold” rating in a report on Saturday, June 14th. UBS Group increased their price objective on StandardAero from $25.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Finally, CIBC cut their price target on shares of StandardAero from $35.00 to $34.00 and set an “outperformer” rating on the stock in a research report on Tuesday, July 8th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.67.

StandardAero Stock Performance

SARO stock opened at $28.08 on Wednesday. The company’s 50-day moving average is $29.85 and its 200-day moving average is $27.82. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.00 and a quick ratio of 1.37. StandardAero, Inc. has a 1 year low of $21.31 and a 1 year high of $34.38.

StandardAero (NYSE:SARO) last released its quarterly earnings data on Monday, May 12th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.51 billion. StandardAero’s revenue was up 16.2% on a year-over-year basis. Equities analysts anticipate that StandardAero, Inc. will post 0.29 EPS for the current year.

About StandardAero

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.