Handelsbanken Fonder AB Has $2.29 Million Holdings in StandardAero, Inc. $SARO

Handelsbanken Fonder AB grew its position in StandardAero, Inc. (NYSE:SARO) by 32.0% in the second quarter, Holdings Channel reports. The fund owned 76,700 shares of the company’s stock after acquiring an additional 18,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in StandardAero were worth $2,294,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in StandardAero by 42.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,081,516 shares of the company’s stock worth $395,890,000 after purchasing an additional 4,523,693 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of StandardAero by 33.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,000,143 shares of the company’s stock worth $401,525,000 after purchasing an additional 3,540,167 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of StandardAero by 7.3% during the first quarter. Janus Henderson Group PLC now owns 12,040,337 shares of the company’s stock worth $311,002,000 after purchasing an additional 816,276 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake 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 valued at $343,717,000 after buying an additional 1,194,488 shares during the period. Finally, Wellington Management Group LLP increased its stake 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 valued at $311,688,000 after buying an additional 522,203 shares during the period.

Insider Activity

In related news, CEO Russell Wayne Ford sold 40,000 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $30.44, for a total transaction of $1,217,600.00. Following the transaction, the chief executive officer owned 486,955 shares in the company, valued at $14,822,910.20. The trade was a 7.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 191,423 shares of company stock worth $5,847,760. 2.10% of the stock is owned by insiders.

StandardAero Price Performance

StandardAero stock opened at $27.92 on Monday. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of 28.78 and a beta of 0.92. StandardAero, Inc. has a 52-week low of $23.83 and a 52-week high of $34.48. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.59 and a current ratio of 2.13. The stock’s 50 day moving average price is $28.13 and its two-hundred day moving average price is $27.84.

Analysts Set New Price Targets

Several research firms recently commented on SARO. 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. Weiss Ratings upgraded shares of StandardAero from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 29th. Wall Street Zen downgraded shares of StandardAero from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $39.00 price target on shares of StandardAero in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of StandardAero from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.77.

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.