StandardAero (NYSE:SARO) CEO Russell Wayne Ford Sells 40,000 Shares of Stock

StandardAero, Inc. (NYSE:SARO) CEO Russell Wayne Ford sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $30.24, for a total value of $1,209,600.00. Following the transaction, the chief executive officer directly owned 395,986 shares in the company, valued at approximately $11,974,616.64. This represents a 9.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Russell Wayne Ford also recently made the following trade(s):

• On Monday, August 3rd, Russell Wayne Ford sold 10,969 shares of StandardAero stock. The shares were sold at an average price of $30.04, for a total value 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 value 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 Price Performance

SARO opened at $30.87 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.12 and a quick ratio of 1.59. The stock’s 50 day simple moving average is $27.88 and its 200 day simple moving average is $28.04. The firm has a market cap of $10.26 billion, a price-to-earnings ratio of 35.08 and a beta of 0.92. StandardAero, Inc. has a 1 year low of $23.83 and a 1 year high of $34.48.

StandardAero (NYSE:SARO) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.49 billion. StandardAero had a return on equity of 12.36% and a net margin of 4.71%.The business’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 earnings per share. As a group, analysts predict that StandardAero, Inc. will post 1.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. bought a new position in StandardAero in the 2nd quarter worth $698,000. Handelsbanken Fonder AB increased its position in shares of StandardAero by 32.0% during the second quarter. Handelsbanken Fonder AB now owns 76,700 shares of the company’s stock valued at $2,294,000 after buying an additional 18,600 shares during the period. GAMMA Investing LLC raised its stake in StandardAero by 54.6% in the second quarter. GAMMA Investing LLC now owns 3,002 shares of the company’s stock worth $90,000 after buying an additional 1,060 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in StandardAero in the first quarter worth about $579,000. Finally, NewEdge Advisors LLC purchased a new position in shares of StandardAero during the 1st quarter worth approximately $383,000.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Royal Bank Of Canada decreased their target price on shares of StandardAero from $37.00 to $34.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Zacks Research lowered shares of StandardAero from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Jefferies Financial Group cut shares of StandardAero from a “buy” rating to a “hold” rating and decreased their price objective for the company from $34.00 to $30.00 in a research report on Tuesday, June 2nd. Morgan Stanley set a $31.00 price objective on shares of StandardAero in a research note on Wednesday, July 15th. Finally, Susquehanna dropped their target price on shares of StandardAero from $40.00 to $37.00 and set a “positive” rating for the company in a report on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

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.