Quantbot Technologies LP Reduces Stock Position in StandardAero, Inc. $SARO

Quantbot Technologies LP reduced its holdings in shares of StandardAero, Inc. (NYSE:SARO) by 16.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 211,787 shares of the company’s stock after selling 41,351 shares during the quarter. Quantbot Technologies LP owned approximately 0.06% of StandardAero worth $6,703,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Comerica Bank acquired a new position in StandardAero in the first quarter valued at $26,000. First Horizon Advisors Inc. grew its stake in StandardAero by 100.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,016 shares of the company’s stock worth $32,000 after buying an additional 509 shares during the last quarter. Corebridge Financial Inc. increased its position in StandardAero by 46.8% during the first quarter. Corebridge Financial Inc. now owns 1,079 shares of the company’s stock worth $29,000 after buying an additional 344 shares during the period. Parallel Advisors LLC lifted its stake in StandardAero by 798.1% in the second quarter. Parallel Advisors LLC now owns 1,383 shares of the company’s stock valued at $44,000 after buying an additional 1,229 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of StandardAero by 32.2% in the second quarter. KBC Group NV now owns 2,605 shares of the company’s stock valued at $82,000 after acquiring an additional 635 shares during the period.

Insider Activity

In related news, insider Alex Trapp sold 73,718 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $28.06, for a total value of $2,068,527.08. Following the sale, the insider owned 16,908 shares of the company’s stock, valued at approximately $474,438.48. This represents a 81.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 90,626 shares of company stock worth $2,554,051.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SARO. Zacks Research raised shares of StandardAero from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Bank of America dropped their target price on StandardAero from $33.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, November 14th. Susquehanna initiated coverage on shares of StandardAero in a research report on Wednesday, September 17th. They issued a “positive” rating and a $34.00 price objective on the stock. Wall Street Zen cut shares of StandardAero from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Truist Financial assumed coverage on shares of StandardAero in a research note on Friday, October 10th. They issued a “buy” rating and a $35.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.43.

StandardAero Trading Up 1.4%

NYSE:SARO opened at $25.49 on Wednesday. StandardAero, Inc. has a 52-week low of $21.31 and a 52-week high of $31.97. The company has a quick ratio of 1.48, a current ratio of 2.18 and a debt-to-equity ratio of 0.89. The stock has a fifty day simple moving average of $26.88 and a 200-day simple moving average of $28.09. The company has a market capitalization of $8.53 billion, a PE ratio of 46.35 and a beta of 1.16.

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

About StandardAero

StandardAero, Inc provides aerospace engine aftermarket services for fixed and rotary wing aircraft in the United States, Canada, the United Kingdom, Rest of Europe, Asia, and internationally. It operates in two segments, Engine Services and Component Repair Services. The Engine Services segment provides a suite of aftermarket services, including maintenance, repair and overhaul, on-wing and field service support, asset management, and engineering and related solutions to customers in the commercial aerospace, military and helicopter, and business aviation end markets.