Trinity Street Asset Management LLP Has $28.40 Million Stock Holdings in StandardAero, Inc. $SARO

Trinity Street Asset Management LLP decreased its holdings in shares of StandardAero, Inc. (NYSE:SARO) by 4.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 949,492 shares of the company’s stock after selling 45,166 shares during the quarter. StandardAero makes up 1.5% of Trinity Street Asset Management LLP’s investment portfolio, making the stock its 14th largest position. Trinity Street Asset Management LLP’s holdings in StandardAero were worth $28,399,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of SARO. Allspring Global Investments Holdings LLC boosted its position in 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 acquiring an additional 4,523,693 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of StandardAero by 33.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,000,143 shares of the company’s stock valued at $401,525,000 after purchasing an additional 3,540,167 shares during the period. Janus Henderson Group PLC increased its holdings in shares of StandardAero by 7.3% in the 1st quarter. Janus Henderson Group PLC now owns 12,040,337 shares of the company’s stock valued at $311,002,000 after purchasing an additional 816,276 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of StandardAero by 11.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,984,551 shares of the company’s stock worth $343,717,000 after purchasing an additional 1,194,488 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of StandardAero by 5.0% in the fourth quarter. Wellington Management Group LLP now owns 10,867,767 shares of the company’s stock worth $311,688,000 after purchasing an additional 522,203 shares in the last quarter.

StandardAero Stock Performance

Shares of SARO opened at $27.49 on Thursday. The firm has a market cap of $9.10 billion, a price-to-earnings ratio of 28.34 and a beta of 0.92. The company’s fifty day moving average is $28.06 and its 200-day moving average is $27.91. The company has a quick ratio of 1.59, a current ratio of 2.13 and a debt-to-equity ratio of 0.84. StandardAero, Inc. has a 12 month low of $23.83 and a 12 month high of $34.48.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SARO. Susquehanna lowered their price objective on shares of StandardAero from $40.00 to $37.00 and set a “positive” rating on the stock in a research report on Monday, May 11th. Jefferies Financial Group downgraded shares of StandardAero from a “buy” rating to a “hold” rating and cut their target price for the stock from $34.00 to $30.00 in a research report on Tuesday, June 2nd. Truist Financial raised shares of StandardAero to a “strong-buy” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. upped their price target on shares of StandardAero from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Royal Bank Of Canada cut their price objective on StandardAero from $37.00 to $34.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.77.

Insider Transactions at StandardAero

In other StandardAero news, CEO Russell Wayne Ford sold 20,413 shares of the stock in a transaction 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 transaction, the chief executive officer directly owned 295,573 shares of the company’s stock, valued at $9,032,710.88. This represents a 6.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 191,423 shares of company stock valued at $5,847,760 in the last three months. Corporate insiders own 2.10% of the company’s stock.

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.