StandardAero, Inc. $SARO Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its stake in StandardAero, Inc. (NYSE:SARO) by 8.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,994,841 shares of the company’s stock after purchasing an additional 159,505 shares during the quarter. Teacher Retirement System of Texas’ holdings in StandardAero were worth $54,439,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Carlyle Group Inc. boosted its holdings in shares of StandardAero by 13.6% in the second quarter. Carlyle Group Inc. now owns 152,673,891 shares of the company’s stock valued at $4,832,129,000 after acquiring an additional 18,321,061 shares in the last quarter. Parnassus Investments LLC lifted its position in StandardAero by 120.9% in the third quarter. Parnassus Investments LLC now owns 1,139,581 shares of the company’s stock valued at $31,099,000 after purchasing an additional 623,652 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of StandardAero by 311.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,548,613 shares of the company’s stock valued at $261,759,000 after buying an additional 6,471,813 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in StandardAero during the third quarter worth $1,479,000. Finally, Envestnet Asset Management Inc. purchased a new position in StandardAero in the second quarter worth $639,000.

Insider Transactions at StandardAero

In other StandardAero news, CEO Russell Wayne Ford sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $30.24, for a total transaction of $1,209,600.00. Following the sale, the chief executive officer directly owned 886,955 shares of the company’s stock, valued at $26,821,519.20. This trade represents a 4.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SARO shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of StandardAero in a research note on Monday, December 22nd. Bank of America reduced their price target on shares of StandardAero from $33.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, November 14th. Wall Street Zen cut StandardAero from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. UBS Group decreased their target price on StandardAero from $35.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, January 15th. Finally, Susquehanna set a $38.00 price target on StandardAero in a research report on Thursday, January 15th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $33.57.

StandardAero Price Performance

SARO stock opened at $32.29 on Friday. The stock’s 50 day moving average price is $28.31 and its 200 day moving average price is $27.98. The firm has a market cap of $10.80 billion, a P/E ratio of 58.71 and a beta of 1.04. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.48 and a current ratio of 2.18. StandardAero, Inc. has a 1 year low of $21.31 and a 1 year high of $34.48.

StandardAero (NYSE:SARO) last released its quarterly earnings results on Monday, November 10th. The company reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. StandardAero had a return on equity of 9.63% and a net margin of 3.15%.The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the business posted $0.06 earnings per share. StandardAero’s revenue was up 20.4% compared to the same quarter last year. On average, sell-side analysts expect that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

StandardAero declared that its Board of Directors has authorized a stock buyback plan on Wednesday, December 10th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the company to repurchase up to 5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

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.