StandardAero, Inc. $SARO Shares Sold by Trinity Street Asset Management LLP

Key Points

• Trinity Street Asset Management reduced its StandardAero stake by 4.5% in the second quarter, selling 45,166 shares and retaining 949,492 shares valued at approximately $28.4 million.
• Several major institutional investors increased their positions, including Allspring Global Investments, T. Rowe Price, Victory Capital and Bessemer Group. Meanwhile, StandardAero’s CEO sold 40,000 shares, and insiders have sold about 191,423 shares in the past 90 days.
• StandardAero shares opened at $27.49, down 2.5%, while analysts maintained a generally positive outlook with a consensus “Moderate Buy” rating and an average price target of $34.77.

Trinity Street Asset Management LLP trimmed its position in StandardAero, Inc. (NYSE:SARO - Free Report) by 4.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 949,492 shares of the company's stock after selling 45,166 shares during the period. StandardAero makes up about 1.5% of Trinity Street Asset Management LLP's portfolio, making the stock its 14th largest holding. Trinity Street Asset Management LLP owned 0.29% of StandardAero worth $28,399,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of StandardAero in the 4th quarter worth $217,655,000. Allspring Global Investments Holdings LLC boosted its stake in StandardAero by 42.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 15,081,516 shares of the company's stock valued at $395,890,000 after buying an additional 4,523,693 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in StandardAero by 33.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,000,143 shares of the company's stock worth $401,525,000 after acquiring an additional 3,540,167 shares during the period. Victory Capital Management Inc. grew its holdings in StandardAero by 175.8% during the fourth quarter. Victory Capital Management Inc. now owns 5,040,723 shares of the company's stock worth $144,568,000 after acquiring an additional 3,212,827 shares during the period. Finally, Bessemer Group Inc. raised its position in StandardAero by 447,114.3% in the fourth quarter. Bessemer Group Inc. now owns 3,103,667 shares of the company's stock worth $89,014,000 after acquiring an additional 3,102,973 shares in the last quarter.

Insider Activity at StandardAero

In other news, CEO Russell Wayne Ford sold 40,000 shares of StandardAero stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $30.44, for a total value of $1,217,600.00. Following the transaction, the chief executive officer directly owned 486,955 shares of the company's stock, valued at $14,822,910.20. This trade represents a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 191,423 shares of company stock valued at $5,847,760 in the last ninety days. Company insiders own 2.10% of the company's stock.

StandardAero Trading Down 2.5%

Shares of SARO opened at $27.49 on Thursday. The business's 50-day moving average price is $28.06 and its 200 day moving average price is $27.91. The stock has a market capitalization of $9.10 billion, a P/E ratio of 28.34 and a beta of 0.92. StandardAero, Inc. has a 1-year low of $23.83 and a 1-year high of $34.48. The company has a current ratio of 2.13, a quick ratio of 1.59 and a debt-to-equity ratio of 0.84.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. UBS Group upped their price target on shares of StandardAero from $35.00 to $36.00 and gave the company a "buy" rating in a report on Friday, August 7th. Weiss Ratings upgraded shares of StandardAero from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 29th. Susquehanna cut their target price on shares of StandardAero from $40.00 to $37.00 and set a "positive" rating for the company in a research note on Monday, May 11th. JPMorgan Chase & Co. raised their target price on shares of StandardAero from $38.00 to $40.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Truist Financial upgraded shares of StandardAero to a "strong-buy" rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $34.77.

About StandardAero

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.

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