Allspring Global Investments Holdings LLC Buys New Shares in StandardAero, Inc. (NYSE:SARO)

Allspring Global Investments Holdings LLC bought a new stake in StandardAero, Inc. (NYSE:SARO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,076,800 shares of the company's stock, valued at approximately $55,679,000. Allspring Global Investments Holdings LLC owned 0.62% of StandardAero at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in StandardAero by 272.3% in the first quarter. GAMMA Investing LLC now owns 1,128 shares of the company's stock valued at $30,000 after purchasing an additional 825 shares during the last quarter. Bessemer Group Inc. purchased a new stake in StandardAero in the fourth quarter valued at $28,000. MetLife Investment Management LLC purchased a new stake in StandardAero in the fourth quarter valued at $54,000. PNC Financial Services Group Inc. purchased a new stake in StandardAero in the fourth quarter valued at $62,000. Finally, Sterling Capital Management LLC purchased a new stake in StandardAero in the fourth quarter valued at $78,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SARO shares. Wall Street Zen lowered shares of StandardAero from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Morgan Stanley lowered their target price on shares of StandardAero from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Friday, March 14th. Finally, UBS Group increased their target price on shares of StandardAero from $25.00 to $30.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Four 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 MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $35.11.

StandardAero Stock Performance

SARO opened at $31.61 on Monday. StandardAero, Inc. has a twelve month low of $21.31 and a twelve month high of $34.38. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.37 and a current ratio of 2.00. The company has a 50-day moving average price of $28.83 and a 200 day moving average price of $27.05.

StandardAero (NYSE:SARO - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.51 billion. The business's revenue was up 16.2% on a year-over-year basis. Equities research analysts predict that StandardAero, Inc. will post 0.29 EPS for the current year.

Insider Buying and Selling at StandardAero

In other StandardAero news, major shareholder Private Ltd Gic sold 5,524,862 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $27.30, for a total value of $150,828,732.60. Following the completion of the sale, the insider now owns 35,292,362 shares in the company, valued at approximately $963,481,482.60. This represents a 13.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.