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 firm’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 transaction of $180,066,291.44. Following the transaction, the insider now owns 40,817,224 shares in the company, valued at $1,108,595,803.84. This represents a 13.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

StandardAero Stock Down 3.1 %

Shares of SARO traded down $0.86 during trading hours on Friday, hitting $27.18. 7,988,652 shares of the stock traded hands, compared to its average volume of 2,027,582. StandardAero, Inc. has a 1-year low of $22.50 and a 1-year high of $34.38. The firm has a fifty day simple moving average of $27.21.

StandardAero (NYSE:SARO) last issued its earnings results on Monday, March 10th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.20). The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.37 billion. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. Analysts anticipate that StandardAero, Inc. will post 0.29 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SARO shares. 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 research report on Friday, March 14th. UBS Group upped their price target 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.89.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SARO. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of StandardAero in the fourth quarter valued at $486,000. Renaissance Capital LLC bought a new stake in shares of StandardAero during the 4th quarter worth $3,992,000. Jennison Associates LLC bought a new stake in shares of StandardAero during the 4th quarter valued at approximately $23,063,000. Legato Capital Management LLC acquired a new position in shares of StandardAero during the fourth quarter worth $335,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of StandardAero during the fourth quarter valued at about $224,000.

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.