Key Points
- CEO Russell Wayne Ford sold 20,413 StandardAero shares at an average price of $30.56, generating $623,821.28. His remaining stake is 295,573 shares, representing a 6.46% reduction.
- Ford has made several additional sales since July, totaling more than $5.2 million across the disclosed transactions.
- StandardAero shares opened at $28.29, with a market capitalization of $9.41 billion and a 12-month trading range of $23.83 to $34.48. Analysts maintain a “Moderate Buy” consensus 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 firm's stock in a transaction on Friday, August 7th. The stock was 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 $9,032,710.88. This trade represents a 6.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
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 stock was sold at an average price of $31.42, for a total transaction 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 transaction of $1,209,600.00.
- On Monday, August 3rd, Russell Wayne Ford sold 10,969 shares of StandardAero stock. The stock was sold at an average price of $30.04, for a total transaction 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 transaction of $1,217,600.00.
- On Wednesday, July 1st, Russell Wayne Ford sold 40,000 shares of StandardAero stock. The shares were sold at an average price of $30.23, for a total value of $1,209,200.00.
StandardAero Stock Performance
NYSE SARO opened at $28.29 on Tuesday. The company has a current ratio of 2.13, a quick ratio of 1.59 and a debt-to-equity ratio of 0.84. The business's 50 day moving average is $27.95 and its two-hundred day moving average is $27.97. StandardAero, Inc. has a 12-month low of $23.83 and a 12-month high of $34.48. The stock has a market capitalization of $9.41 billion, a price-to-earnings ratio of 29.17 and a beta of 0.92.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Carlyle Group Inc. acquired a new position in StandardAero during the second quarter worth about $2,529,998,000. BlackRock Inc. acquired a new stake in shares of StandardAero in the second quarter valued at approximately $646,128,000. Norges Bank acquired a new stake in shares of StandardAero in the fourth quarter valued at approximately $217,655,000. Allspring Global Investments Holdings LLC increased its stake in shares of StandardAero by 42.8% during the 1st 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of StandardAero by 33.8% during the 4th 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 in the last quarter.
Analyst Ratings Changes
A number of research analysts recently weighed in on SARO shares. JPMorgan Chase & Co. upped their price objective on StandardAero from $38.00 to $40.00 and gave the stock an "overweight" rating in a report on Monday. Susquehanna reduced their target price on StandardAero from $40.00 to $37.00 and set a "positive" rating for the company in a report on Monday, May 11th. Canadian Imperial Bank of Commerce restated an "outperform" rating and set a $39.00 target price on shares of StandardAero in a research report on Friday, May 8th. Jefferies Financial Group cut shares of StandardAero from a "buy" rating to a "hold" rating and lowered their price target for the stock from $34.00 to $30.00 in a research note on Tuesday, June 2nd. Finally, Weiss Ratings upgraded shares of StandardAero from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, StandardAero has an average rating of "Moderate Buy" and an average price target of $34.77.
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StandardAero Company Profile
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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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