15,900 Shares in StandardAero, Inc. (NYSE:SARO) Bought by KLP Kapitalforvaltning AS

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 bought a new position in shares of StandardAero, Inc. (NYSE:SARO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,900 shares of the company's stock, valued at approximately $424,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SARO. Bessemer Group Inc. acquired a new stake in shares of StandardAero during the fourth quarter worth $28,000. GAMMA Investing LLC lifted its holdings in shares of StandardAero by 272.3% during 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 during the period. KBC Group NV acquired a new stake in shares of StandardAero during the first quarter worth $52,000. MetLife Investment Management LLC acquired a new stake in shares of StandardAero during the fourth quarter worth $54,000. Finally, Sterling Capital Management LLC acquired a new stake in shares of StandardAero during the fourth quarter worth $78,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wall Street Zen downgraded StandardAero from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. CIBC cut their price objective on StandardAero from $35.00 to $34.00 and set an "outperformer" rating for the company in a research report on Tuesday, July 8th. Finally, UBS Group increased their price objective on StandardAero from $25.00 to $30.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $34.67.

StandardAero Price Performance

SARO stock traded down $0.66 during midday trading on Friday, hitting $27.89. 1,620,823 shares of the company's stock were exchanged, compared to its average volume of 1,688,888. 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 12-month low of $21.31 and a 12-month high of $34.38. The firm has a 50 day moving average price of $29.85 and a 200-day moving average price of $27.89.

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

Insider Buying and Selling at StandardAero

In other news, major shareholder Private Ltd Gic sold 828,729 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $27.30, for a total value of $22,624,301.70. Following the completion of the sale, the insider directly owned 34,463,633 shares in the company, valued at approximately $940,857,180.90. The trade was a 2.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.