Private Ltd Gic Sells 6,629,834 Shares of StandardAero, Inc. (NYSE:SARO) Stock

StandardAero, Inc. (NYSE:SARO) major shareholder Private Ltd Gic sold 6,629,834 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $27.16, for a total value of $180,066,291.44. Following the transaction, the insider now owns 40,817,224 shares of the company’s stock, valued at $1,108,595,803.84. This trade represents a 13.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

StandardAero Trading Down 3.1 %

Shares of NYSE SARO opened at $27.18 on Friday. The firm’s 50-day moving average is $27.26. StandardAero, Inc. has a 1-year low of $22.50 and a 1-year high of $34.38.

StandardAero (NYSE:SARO) last posted its quarterly earnings results on Monday, March 10th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.20). The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.37 billion. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. Equities analysts anticipate that StandardAero, Inc. will post 0.29 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on SARO shares. Morgan Stanley lowered their price target on shares of StandardAero from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. UBS Group boosted their target price on shares of StandardAero from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, March 11th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, StandardAero currently has an average rating of “Moderate Buy” and an average price target of $34.89.

Hedge Funds Weigh In On StandardAero

A number of large investors have recently modified their holdings of the company. California State Teachers Retirement System acquired a new position in StandardAero during the fourth quarter worth $127,000. Public Employees Retirement System of Ohio bought a new stake in shares of StandardAero during the fourth quarter worth about $588,000. Woodline Partners LP acquired a new stake in shares of StandardAero in the 4th quarter worth about $9,455,000. Zimmer Partners LP bought a new position in StandardAero in the 4th quarter valued at about $3,714,000. Finally, Squarepoint Ops LLC acquired a new position in StandardAero during the 4th quarter valued at about $6,422,000.

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.