TD Asset Management Inc Buys 40,138 Shares of StandardAero, Inc. (NYSE:SARO)

Key Points

• TD Asset Management Inc increased its holdings in StandardAero, Inc. by 8.3%, owning approximately $13.9 million worth of shares after purchasing an additional 40,138 shares in the first quarter.
• StandardAero's stock showed a 16.2% increase in revenue compared to the same quarter last year, with a reported earnings per share (EPS) of $0.19, exceeding estimates of $0.17.
• Equities analysts recently varied their outlook on StandardAero, with ratings ranging from a "strong buy" to a "hold," while the consensus target price is approximately $34.67.

TD Asset Management Inc raised its holdings in shares of StandardAero, Inc. (NYSE:SARO - Free Report) by 8.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 522,066 shares of the company's stock after acquiring an additional 40,138 shares during the period. TD Asset Management Inc owned approximately 0.16% of StandardAero worth $13,908,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SARO. Carlyle Group Inc. acquired a new position in StandardAero in the 4th quarter worth $165,294,000. JPMorgan Chase & Co. bought a new position in StandardAero in the 4th quarter valued at about $5,226,000. GAMMA Investing LLC grew its position in shares of StandardAero by 272.3% during the 1st 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. Geode Capital Management LLC acquired a new position in shares of StandardAero during the 4th quarter worth approximately $23,737,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in StandardAero by 83.8% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 16,626 shares of the company's stock valued at $443,000 after acquiring an additional 7,578 shares during the last quarter.

Insiders Place Their Bets

In related news, major shareholder Private Ltd Gic sold 5,524,862 shares of StandardAero stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $27.30, for a total transaction of $150,828,732.60. Following the completion of the transaction, the insider owned 35,292,362 shares of the company's stock, valued at $963,481,482.60. This trade represents a 13.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

StandardAero Trading Up 2.8%

StandardAero stock traded up $0.77 during mid-day trading on Monday, reaching $28.63. The company had a trading volume of 825,561 shares, compared to its average volume of 2,375,551. StandardAero, Inc. has a fifty-two week low of $21.31 and a fifty-two week high of $34.38. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.37 and a current ratio of 2.00. The business has a fifty day simple moving average of $29.85 and a 200 day simple moving average of $27.94.

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, topping analysts' consensus estimates of $0.17 by $0.02. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.51 billion. The company's revenue was up 16.2% compared to the same quarter last year. On average, equities research analysts expect that StandardAero, Inc. will post 0.29 EPS for the current fiscal year.

StandardAero 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.