Bank of New York Mellon Corp Increases Position in StandardAero, Inc. (NYSE:SARO)

Bank of New York Mellon Corp increased its holdings in shares of StandardAero, Inc. (NYSE:SARO - Free Report) by 54.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,495 shares of the company's stock after acquiring an additional 87,918 shares during the period. Bank of New York Mellon Corp owned approximately 0.07% of StandardAero worth $6,620,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP bought a new position in shares of StandardAero in the fourth quarter worth approximately $183,924,000. Carlyle Group Inc. bought a new position in shares of StandardAero in the fourth quarter worth approximately $165,294,000. T. Rowe Price Investment Management Inc. bought a new position in shares of StandardAero in the fourth quarter worth approximately $161,324,000. Price T Rowe Associates Inc. MD bought a new position in StandardAero during the fourth quarter valued at approximately $155,829,000. Finally, Vanguard Group Inc. bought a new position in StandardAero during the fourth quarter valued at approximately $147,628,000.

StandardAero Stock Down 0.2%

SARO stock traded down $0.07 during midday trading on Friday, reaching $28.28. 1,115,199 shares of the company's stock traded hands, compared to its average volume of 2,349,562. StandardAero, Inc. has a 52-week low of $21.31 and a 52-week high of $34.38. The company has a quick ratio of 1.37, a current ratio of 2.00 and a debt-to-equity ratio of 0.95. The stock's 50-day moving average is $29.90 and its 200 day moving average is $27.72.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on SARO. UBS Group increased their price objective on shares of StandardAero from $25.00 to $30.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Wall Street Zen downgraded shares of StandardAero from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, CIBC lowered their price objective on shares of StandardAero from $35.00 to $34.00 and set an "outperformer" rating on the stock in a research report on Tuesday, July 8th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.67.

Insider Activity

In other news, major shareholder Private Ltd Gic sold 828,729 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $27.30, for a total value of $22,624,301.70. Following the completion of the sale, the insider directly owned 34,463,633 shares of the company's stock, valued at $940,857,180.90. This represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by company insiders.

StandardAero 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.