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

StandardAero, Inc. (NYSE:SARO) major shareholder Private Ltd Gic sold 6,629,834 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $27.16, for a total value of $180,066,291.44. Following the completion of the sale, the insider now owns 40,817,224 shares of the company’s stock, valued at approximately $1,108,595,803.84. This trade represents a 13.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

StandardAero Price Performance

Shares of NYSE SARO opened at $27.18 on Friday. StandardAero, Inc. has a 12 month low of $22.50 and a 12 month high of $34.38. The business’s 50-day simple moving average is $27.26.

StandardAero (NYSE:SARO) last released its quarterly earnings data on Monday, March 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.20). The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.37 billion. The firm’s revenue was up 21.8% compared to the same quarter last year. On average, sell-side analysts predict that StandardAero, Inc. will post 0.29 earnings per share for the current year.

Institutional Investors Weigh In On StandardAero

Several hedge funds have recently modified their holdings of SARO. R Squared Ltd acquired a new position in StandardAero in the 4th quarter worth about $39,000. Jennison Associates LLC acquired a new position in shares of StandardAero in the fourth quarter valued at approximately $23,063,000. Renaissance Capital LLC bought a new position in StandardAero in the 4th quarter valued at approximately $3,992,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in StandardAero during the 4th quarter worth approximately $486,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in StandardAero during the 4th quarter worth approximately $224,000.

Wall Street Analyst Weigh In

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

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.