Sculptor Capital LP bought a new position in shares of StandardAero, Inc. (NYSE:SARO – Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 341,622 shares of the company’s stock, valued at approximately $8,824,000. Sculptor Capital LP owned approximately 0.10% of StandardAero as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Comerica Bank acquired a new stake in shares of StandardAero in the first quarter valued at about $26,000. Royal Bank of Canada grew its position in StandardAero by 418.8% during the first quarter. Royal Bank of Canada now owns 138,268 shares of the company’s stock worth $3,682,000 after buying an additional 111,617 shares during the period. AQR Capital Management LLC acquired a new position in StandardAero during the first quarter worth about $521,000. Goldman Sachs Group Inc. purchased a new position in StandardAero in the first quarter valued at about $6,821,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in StandardAero in the first quarter valued at about $12,343,000.
StandardAero Stock Performance
NYSE:SARO opened at $28.73 on Monday. The company has a current ratio of 2.12, a quick ratio of 1.59 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $9.55 billion, a P/E ratio of 32.65 and a beta of 0.91. The firm has a 50-day moving average price of $27.34 and a two-hundred day moving average price of $28.13. StandardAero, Inc. has a twelve month low of $23.83 and a twelve month high of $34.48.
Insider Activity
In other StandardAero news, CEO Russell Wayne Ford sold 40,000 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $30.44, for a total transaction of $1,217,600.00. Following the sale, the chief executive officer owned 486,955 shares in the company, valued at approximately $14,822,910.20. This represents a 7.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on SARO shares. Wells Fargo & Company began coverage on StandardAero in a research note on Wednesday, April 1st. They set an “overweight” rating and a $32.00 price target on the stock. Jefferies Financial Group downgraded StandardAero from a “buy” rating to a “hold” rating and dropped their price objective for the company from $34.00 to $30.00 in a research note on Tuesday, June 2nd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $39.00 price objective on shares of StandardAero in a report on Friday, May 8th. Zacks Research cut StandardAero from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings upgraded StandardAero from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.00.
Check Out Our Latest Stock Analysis on StandardAero
StandardAero Profile
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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