Rakuten Investment Management Inc. Makes New Investment in StandardAero, Inc. $SARO

Rakuten Investment Management Inc. purchased a new position in StandardAero, Inc. (NYSE:SARO) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 23,240 shares of the company’s stock, valued at approximately $634,000.

A number of other hedge funds also recently modified their holdings of SARO. Cerity Partners LLC grew its position in shares of StandardAero by 0.6% in the 2nd quarter. Cerity Partners LLC now owns 69,758 shares of the company’s stock valued at $2,208,000 after purchasing an additional 416 shares during the period. First Horizon Advisors Inc. lifted its stake in StandardAero by 100.4% in the second quarter. First Horizon Advisors Inc. now owns 1,016 shares of the company’s stock valued at $32,000 after buying an additional 509 shares in the last quarter. 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 buying an additional 635 shares during the period. Comerica Bank acquired a new position in shares of StandardAero in the first quarter valued at approximately $26,000. Finally, CWM LLC increased its position in shares of StandardAero by 46.7% during the third quarter. CWM LLC now owns 3,234 shares of the company’s stock worth $88,000 after acquiring an additional 1,029 shares in the last quarter.

Analysts Set New Price Targets

SARO has been the topic of several research reports. Wall Street Zen cut shares of StandardAero from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. UBS Group cut their price target on StandardAero from $35.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, January 15th. Susquehanna set a $38.00 price objective on StandardAero in a report on Thursday, January 15th. Weiss Ratings reissued a “hold (c)” rating on shares of StandardAero in a research report on Monday, December 22nd. Finally, Zacks Research raised StandardAero from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $33.57.

StandardAero Trading Up 1.8%

StandardAero stock opened at $32.95 on Friday. The company has a market cap of $11.02 billion, a price-to-earnings ratio of 59.91 and a beta of 1.04. The firm has a 50-day moving average of $28.46 and a 200-day moving average of $27.98. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.18 and a quick ratio of 1.48. StandardAero, Inc. has a one year low of $21.31 and a one year high of $34.48.

StandardAero (NYSE:SARO) last released its earnings results on Monday, November 10th. The company reported $0.20 earnings per share (EPS) 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 business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the company posted $0.06 earnings per share. StandardAero’s revenue was up 20.4% on a year-over-year basis. On average, equities analysts expect that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

StandardAero announced that its Board of Directors has approved a share repurchase plan on Wednesday, December 10th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the company to buy up to 5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, CEO Russell Wayne Ford sold 40,000 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $30.24, for a total value of $1,209,600.00. Following the completion of the sale, the chief executive officer owned 886,955 shares of the company’s stock, valued at approximately $26,821,519.20. This represents a 4.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

StandardAero Company 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.