Federated Hermes Inc. Boosts Stake in 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 holdings in StandardAero, Inc. (NYSE:SARO - Free Report) by 11.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,803,483 shares of the company's stock after acquiring an additional 292,983 shares during the quarter. Federated Hermes Inc. owned 0.84% of StandardAero worth $74,685,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Carlyle Group Inc. purchased a new stake in StandardAero in the 4th quarter worth $165,294,000. JPMorgan Chase & Co. purchased a new stake in shares of StandardAero during the fourth quarter worth about $5,226,000. GAMMA Investing LLC raised its position in shares of StandardAero by 272.3% during the 1st quarter. GAMMA Investing LLC now owns 1,128 shares of the company's stock worth $30,000 after purchasing an additional 825 shares during the last quarter. Geode Capital Management LLC acquired a new position in shares of StandardAero during the fourth quarter valued at approximately $23,737,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in StandardAero by 83.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 16,626 shares of the company's stock valued at $443,000 after purchasing an additional 7,578 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of StandardAero from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. CIBC decreased their target price on shares of StandardAero from $35.00 to $34.00 and set an "outperformer" rating on the stock in a research note on Tuesday, July 8th. Finally, UBS Group upped their price target on StandardAero from $25.00 to $30.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $34.67.

StandardAero Trading Down 2.3%

Shares of NYSE SARO traded down $0.66 during mid-day trading on Friday, reaching $27.89. 1,620,823 shares of the company's stock were exchanged, compared to its average volume of 1,688,888. The company's 50-day moving average is $29.85 and its 200-day moving average is $27.91. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.37 and a current ratio of 2.00. StandardAero, Inc. has a 52-week low of $21.31 and a 52-week high of $34.38.

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

Insider Activity at StandardAero

In related news, major shareholder Private Ltd Gic sold 5,524,862 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $27.30, for a total value of $150,828,732.60. Following the transaction, the insider owned 35,292,362 shares of the company's stock, valued at $963,481,482.60. This represents a 13.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.90% of the company's stock.

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.