Bank of America Corp DE Invests $1.12 Million in StandardAero, Inc. (NYSE:SARO)

Bank of America Corp DE bought a new position in StandardAero, Inc. (NYSE:SARO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 45,242 shares of the company's stock, valued at approximately $1,120,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bessemer Group Inc. purchased a new stake in shares of StandardAero in the 4th quarter worth about $28,000. MetLife Investment Management LLC bought a new stake in StandardAero during the 4th quarter valued at approximately $54,000. PNC Financial Services Group Inc. bought a new stake in StandardAero in the 4th quarter valued at $62,000. Sterling Capital Management LLC bought a new position in shares of StandardAero during the 4th quarter valued at approximately $78,000. Finally, BNP Paribas Financial Markets bought a new position in shares of StandardAero in the 4th quarter valued at about $79,000.

Analyst Ratings Changes

SARO has been the topic of a number of research analyst reports. UBS Group upped their price target on shares of StandardAero from $25.00 to $30.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Morgan Stanley reduced their target price on shares of StandardAero from $33.00 to $32.00 and set an "equal weight" rating for the company in a report on Friday, March 14th. Finally, Wall Street Zen raised shares of StandardAero from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $35.11.

Insider Activity

In other StandardAero news, major shareholder Private Ltd Gic sold 6,629,834 shares of the 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 of the company's stock, valued at $1,108,595,803.84. This trade represents a 13.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 12,983,425 shares of company stock worth $353,519,326 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

StandardAero Stock Up 2.7%

Shares of NYSE SARO traded up $0.81 during mid-day trading on Friday, hitting $30.51. The company had a trading volume of 3,430,534 shares, compared to its average volume of 2,279,290. The business's 50-day simple moving average is $27.11 and its 200 day simple moving average is $26.84. StandardAero, Inc. has a 1-year low of $21.31 and a 1-year high of $34.38.

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

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.