KLP Kapitalforvaltning AS Acquires Shares of 15,900 StandardAero, Inc. (NYSE:SARO)

Key Points

• KLP Kapitalforvaltning AS invested approximately $424,000 in StandardAero, acquiring 15,900 shares during the first quarter.
• Analysts have set the target price for StandardAero stock between $30.00 and $34.00, with ratings ranging from "hold" to "strong buy."
• StandardAero reported a 16.2% increase in year-over-year revenue, totaling $1.44 billion for the quarter, despite having an earnings per share slightly above expectations.

KLP Kapitalforvaltning AS acquired a new position in StandardAero, Inc. (NYSE:SARO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,900 shares of the company's stock, valued at approximately $424,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in StandardAero by 272.3% in the first quarter. GAMMA Investing LLC now owns 1,128 shares of the company's stock worth $30,000 after purchasing an additional 825 shares in the last quarter. Bessemer Group Inc. acquired a new position in StandardAero in the fourth quarter worth $28,000. KBC Group NV acquired a new position in StandardAero in the first quarter worth $52,000. MetLife Investment Management LLC bought a new stake in shares of StandardAero during the fourth quarter worth $54,000. Finally, Sterling Capital Management LLC bought a new stake in shares of StandardAero during the fourth quarter worth $78,000.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SARO shares. UBS Group boosted their target price on StandardAero from $25.00 to $30.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Wall Street Zen lowered StandardAero from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, CIBC lowered their target price on shares of StandardAero from $35.00 to $34.00 and set an "outperformer" rating for the company in a research note on Tuesday, July 8th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $34.67.

StandardAero Price Performance

Shares of SARO stock traded up $0.76 on Monday, hitting $28.62. 825,561 shares of the stock were exchanged, compared to its average volume of 2,375,551. The company has a quick ratio of 1.37, a current ratio of 2.00 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average of $29.85 and a 200 day moving average of $27.94. StandardAero, Inc. has a fifty-two week low of $21.31 and a fifty-two week high of $34.38.

StandardAero (NYSE:SARO - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.51 billion. StandardAero's revenue was up 16.2% compared to the same quarter last year. Equities analysts expect that StandardAero, Inc. will post 0.29 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Private Ltd Gic sold 828,729 shares of StandardAero stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $27.30, for a total transaction of $22,624,301.70. Following the completion of the sale, the insider directly owned 34,463,633 shares of the company's stock, valued at approximately $940,857,180.90. This trade represents a 2.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.90% of the company's stock.

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.