California State Teachers Retirement System Acquires 93,976 Shares of StandardAero, Inc. $SARO

Key Points

• California State Teachers Retirement System increased its StandardAero stake by 67.6%, acquiring 93,976 shares to hold 232,942 shares worth approximately $6.0 million.
• StandardAero exceeded quarterly expectations, reporting EPS of $0.33 versus a $0.30 estimate and revenue of $1.63 billion, up 13.3% year over year.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and a $34 average price target, compared with a recent price of $30.87.

California State Teachers Retirement System increased its stake in shares of StandardAero, Inc. (NYSE:SARO - Free Report) by 67.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 232,942 shares of the company's stock after acquiring an additional 93,976 shares during the quarter. California State Teachers Retirement System owned about 0.07% of StandardAero worth $6,017,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Comerica Bank bought a new stake in StandardAero in the 1st quarter valued at $26,000. Danske Bank A S bought a new position in shares of StandardAero during the 3rd quarter worth about $82,000. Parallel Advisors LLC increased its holdings in shares of StandardAero by 210.3% during the 4th quarter. Parallel Advisors LLC now owns 3,050 shares of the company's stock worth $87,000 after purchasing an additional 2,067 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of StandardAero during the fourth quarter valued at about $105,000. Finally, US Bancorp DE raised its position in shares of StandardAero by 46.4% during the third quarter. US Bancorp DE now owns 4,506 shares of the company's stock valued at $123,000 after buying an additional 1,428 shares during the last quarter.

StandardAero Price Performance

NYSE:SARO opened at $30.87 on Thursday. The company has a 50-day moving average of $27.88 and a 200-day moving average of $28.04. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of 35.08 and a beta of 0.92. StandardAero, Inc. has a 52 week low of $23.83 and a 52 week high of $34.48. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.59 and a current ratio of 2.12.

StandardAero (NYSE:SARO - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.49 billion. StandardAero had a net margin of 4.71% and a return on equity of 12.36%. The company's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 earnings per share. As a group, equities research analysts anticipate that StandardAero, Inc. will post 1.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Russell Wayne Ford sold 40,000 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $30.24, for a total value of $1,209,600.00. Following the sale, the chief executive officer directly owned 395,986 shares in the company, valued at approximately $11,974,616.64. This represents a 9.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 130,969 shares of company stock worth $3,965,909 over the last 90 days. 2.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SARO shares. Truist Financial upgraded shares of StandardAero to a "strong-buy" rating in a research note on Friday, May 1st. Jefferies Financial Group lowered StandardAero from a "buy" rating to a "hold" rating and lowered their price target for the company from $34.00 to $30.00 in a research note on Tuesday, June 2nd. Morgan Stanley set a $31.00 price target on StandardAero in a report on Wednesday, July 15th. UBS Group upgraded StandardAero from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $35.00 to $34.00 in a research report on Monday, May 11th. Finally, Royal Bank Of Canada decreased their price objective on StandardAero from $37.00 to $34.00 and set an "outperform" rating on the stock in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, StandardAero currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.00.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source