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 stock in a transaction that occurred on 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 completion of the sale, the insider now owns 40,817,224 shares in the company, valued at approximately $1,108,595,803.84. The trade was a 13.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

StandardAero Stock Performance

SARO stock traded down $0.86 during midday trading on Friday, hitting $27.18. 7,988,652 shares of the stock were exchanged, compared to its average volume of 2,027,582. StandardAero, Inc. has a fifty-two week low of $22.50 and a fifty-two week high of $34.38. The stock’s 50-day moving average is $27.21.

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

Analyst Ratings Changes

Several analysts have commented on SARO shares. UBS Group lifted their price objective on shares of StandardAero from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, March 11th. Morgan Stanley decreased their price target on StandardAero from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. Three research 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.89.

Institutional Trading of StandardAero

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP acquired a new position in StandardAero during the 4th quarter worth approximately $183,924,000. Carlyle Group Inc. bought a new position in shares of StandardAero during the fourth quarter worth about $165,294,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of StandardAero in the 4th quarter worth approximately $161,324,000. Price T Rowe Associates Inc. MD bought a new stake in StandardAero during the fourth quarter valued at $155,829,000. Finally, Vanguard Group Inc. bought a new stake in shares of StandardAero during the 4th quarter valued at about $147,628,000.

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.