StandardAero (NYSE:SARO) CEO Sells 20,413 Shares of Stock

Key Points

• CEO Russell Wayne Ford sold 20,413 StandardAero shares at an average price of $30.56, generating $623,821; he retained 295,573 shares. The transaction followed several other insider sales since July.
• StandardAero shares fell 3.1% to $28.29, while the company reported quarterly adjusted earnings of $0.33 per share and revenue of $1.63 billion, beating analyst expectations and marking 13.3% year-over-year revenue growth.
• Institutional investors increased exposure, including Carlyle’s acquisition of a roughly $2.53 billion stake, while analysts maintained a consensus “Moderate Buy” rating with an average price target of $34.77.

StandardAero, Inc. (NYSE:SARO - Get Free Report) CEO Russell Wayne Ford sold 20,413 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $30.56, for a total transaction of $623,821.28. Following the completion of the sale, the chief executive officer owned 295,573 shares of the company's stock, valued at approximately $9,032,710.88. This trade represents a 6.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Russell Wayne Ford also recently made the following trade(s):

• On Thursday, August 6th, Russell Wayne Ford sold 40,000 shares of StandardAero stock. The shares were sold at an average price of $31.42, for a total value of $1,256,800.00.
• On Tuesday, August 4th, Russell Wayne Ford sold 40,000 shares of StandardAero stock. The stock was sold at an average price of $30.24, for a total value of $1,209,600.00.
• On Monday, August 3rd, Russell Wayne Ford sold 10,969 shares of StandardAero stock. The shares were sold at an average price of $30.04, for a total value of $329,508.76.
• On Monday, July 6th, Russell Wayne Ford sold 40,000 shares of StandardAero stock. The shares were sold at an average price of $30.44, for a total value of $1,217,600.00.
• On Wednesday, July 1st, Russell Wayne Ford sold 40,000 shares of StandardAero stock. The stock was sold at an average price of $30.23, for a total value of $1,209,200.00.

StandardAero Stock Down 3.1%

NYSE SARO traded down $0.90 during trading on Monday, reaching $28.29. 2,913,722 shares of the company's stock were exchanged, compared to its average volume of 4,150,627. The company has a current ratio of 2.13, a quick ratio of 1.59 and a debt-to-equity ratio of 0.84. StandardAero, Inc. has a fifty-two week low of $23.83 and a fifty-two week high of $34.48. The company's fifty day simple moving average is $27.93 and its 200-day simple moving average is $28.00. The firm has a market capitalization of $9.41 billion, a PE ratio of 29.17 and a beta of 0.92.

StandardAero (NYSE:SARO - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.03. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.49 billion. StandardAero had a return on equity of 14.52% and a net margin of 5.12%.The firm's quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. Sell-side analysts predict that StandardAero, Inc. will post 1.43 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Carlyle Group Inc. acquired a new stake in shares of StandardAero during the 2nd quarter worth approximately $2,529,998,000. BlackRock Inc. acquired a new position in shares of StandardAero in the second quarter valued at $646,128,000. Norges Bank acquired a new position in shares of StandardAero in the fourth quarter valued at $217,655,000. Allspring Global Investments Holdings LLC lifted its position in StandardAero by 42.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 15,081,516 shares of the company's stock worth $395,890,000 after purchasing an additional 4,523,693 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in StandardAero by 33.8% in 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 purchasing an additional 3,540,167 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Canadian Imperial Bank of Commerce reissued an "outperform" rating and set a $39.00 price objective on shares of StandardAero in a research report on Friday, May 8th. UBS Group raised their target price on StandardAero from $35.00 to $36.00 and gave the company a "buy" rating in a report on Friday. Jefferies Financial Group downgraded StandardAero from a "buy" rating to a "hold" rating and dropped their price target for the stock from $34.00 to $30.00 in a research report on Tuesday, June 2nd. Zacks Research cut StandardAero from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of StandardAero from $38.00 to $40.00 and gave the stock an "overweight" rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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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