StandardAero, Inc. (NYSE:SARO) Major Shareholder Sells $180,066,291.44 in 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 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 directly owns 40,817,224 shares in the company, valued at approximately $1,108,595,803.84. This represents a 13.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

StandardAero Stock Performance

Shares of StandardAero stock opened at $27.18 on Monday. The firm has a fifty day simple moving average of $27.26. StandardAero, Inc. has a 52-week low of $22.50 and a 52-week high of $34.38.

StandardAero (NYSE:SARO) last posted its 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 for the quarter, compared to analyst estimates of $1.37 billion. The company’s revenue was up 21.8% on a year-over-year basis. Analysts expect that StandardAero, Inc. will post 0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On StandardAero

A number of hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. acquired a new stake in StandardAero in the 4th quarter valued at $28,000. R Squared Ltd bought a new position in shares of StandardAero during the fourth quarter valued at $39,000. MetLife Investment Management LLC bought a new position in shares of StandardAero during the fourth quarter valued at $54,000. PNC Financial Services Group Inc. bought a new stake in shares of StandardAero in the 4th quarter worth about $62,000. Finally, Sterling Capital Management LLC acquired a new stake in shares of StandardAero during the 4th quarter worth about $78,000.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SARO. Morgan Stanley lowered their target price on StandardAero from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Friday, March 14th. UBS Group raised their price objective on shares of StandardAero from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 11th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.89.

StandardAero Company Profile

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.