Pacer Advisors Inc. Makes New Investment in StandardAero, Inc. $SARO

Pacer Advisors Inc. acquired a new stake in StandardAero, Inc. (NYSE:SARO) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 22,432 shares of the company’s stock, valued at approximately $579,000.

A number of other hedge funds have also recently made changes to their positions in the business. Vulcan Value Partners LLC bought a new position in StandardAero in the 4th quarter valued at about $13,618,000. Trinity Street Asset Management LLP bought a new stake in StandardAero during the 1st quarter worth approximately $25,692,000. Massachusetts Financial Services Co. MA raised its stake in shares of StandardAero by 5.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,465,939 shares of the company’s stock worth $99,403,000 after purchasing an additional 179,930 shares during the last quarter. M.D. Sass LLC raised its stake in shares of StandardAero by 69.5% in the fourth quarter. M.D. Sass LLC now owns 1,991,537 shares of the company’s stock worth $57,117,000 after purchasing an additional 816,573 shares during the last quarter. Finally, New York State Teachers Retirement System bought a new position in shares of StandardAero in the first quarter valued at approximately $1,004,000.

Insiders Place Their Bets

In other news, CEO Russell Wayne Ford sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $30.44, for a total value of $1,217,600.00. Following the sale, the chief executive officer owned 486,955 shares of the company’s stock, valued at $14,822,910.20. The trade was a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 191,382 shares of company stock worth $5,846,530 in the last three months. 2.10% of the stock is owned by company insiders.

StandardAero Trading Down 3.1%

Shares of StandardAero stock opened at $28.29 on Tuesday. StandardAero, Inc. has a 52-week low of $23.83 and a 52-week high of $34.48. The stock’s 50-day simple moving average is $27.95 and its 200 day simple moving average is $27.97. The stock has a market capitalization of $9.41 billion, a P/E ratio of 29.17 and a beta of 0.92. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.59 and a current ratio of 2.13.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Royal Bank Of Canada cut their target price on StandardAero from $37.00 to $34.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Jefferies Financial Group cut StandardAero from a “buy” rating to a “hold” rating and dropped their price objective for the company from $34.00 to $30.00 in a research note on Tuesday, June 2nd. Susquehanna dropped their price objective on StandardAero from $40.00 to $37.00 and set a “positive” rating on the stock in a research note on Monday, May 11th. Truist Financial upgraded shares of StandardAero to a “strong-buy” rating in a research note on Friday, May 1st. Finally, UBS Group increased their target price on shares of StandardAero from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.77.

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.