Federated Hermes Inc. Acquires 292,983 Shares of StandardAero, Inc. (NYSE:SARO)

Key Points

• Federated Hermes Inc. increased its stake in StandardAero, acquiring an additional 292,983 shares, bringing its total ownership to 2,803,483 shares, valued at approximately $74.7 million.
• Several hedge funds, including Wellington Management and Carlyle Group, established new positions in StandardAero, with Wellington purchasing shares worth around $183.9 million.
• Wall Street analysts have mixed ratings on StandardAero, with an average consensus rating of "Moderate Buy" and a target price of $34.67, while some firms have downgraded their assessments.

Federated Hermes Inc. lifted its position in shares of StandardAero, Inc. (NYSE:SARO - Free Report) by 11.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,803,483 shares of the company's stock after buying an additional 292,983 shares during the period. Federated Hermes Inc. owned about 0.84% of StandardAero worth $74,685,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Sei Investments Co. bought a new position in shares of StandardAero during the 4th quarter worth approximately $1,579,000. Vanguard Group Inc. acquired a new position in shares of StandardAero during the 4th quarter worth about $147,628,000. JPMorgan Chase & Co. bought a new position in shares of StandardAero in the 4th quarter valued at about $5,226,000. Norges Bank acquired a new stake in shares of StandardAero in the fourth quarter valued at about $124,422,000. Finally, Wellington Management Group LLP acquired a new position in StandardAero during the fourth quarter valued at approximately $183,924,000.

Wall Street Analysts Forecast Growth

SARO has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of StandardAero from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. UBS Group upped their price objective on StandardAero from $25.00 to $30.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Finally, CIBC dropped their price target on StandardAero from $35.00 to $34.00 and set an "outperformer" rating on the stock in a research note on Tuesday, July 8th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $34.67.

Insider Buying and Selling

In other StandardAero news, major shareholder Private Ltd Gic sold 5,524,862 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $27.30, for a total transaction of $150,828,732.60. Following the sale, the insider owned 35,292,362 shares of the company's stock, valued at approximately $963,481,482.60. The trade was a 13.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is currently owned by insiders.

StandardAero Trading Down 2.3%

Shares of SARO stock traded down $0.66 during trading hours on Friday, reaching $27.89. The company's stock had a trading volume of 1,620,823 shares, compared to its average volume of 1,688,888. StandardAero, Inc. has a fifty-two week low of $21.31 and a fifty-two week high of $34.38. The firm's 50 day simple moving average is $29.85 and its 200-day simple moving average is $27.89. The company has a current ratio of 2.00, a quick ratio of 1.37 and a debt-to-equity ratio of 0.95.

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

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.