Lazard Asset Management LLC Invests $224,000 in StandardAero, Inc. (NYSE:SARO)

Lazard Asset Management LLC bought a new position in StandardAero, Inc. (NYSE:SARO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 9,048 shares of the company's stock, valued at approximately $224,000.

Several other institutional investors have also made changes to their positions in SARO. Bessemer Group Inc. purchased a new position in StandardAero during the fourth quarter valued at approximately $28,000. R Squared Ltd purchased a new position in StandardAero during the fourth quarter valued at approximately $39,000. MetLife Investment Management LLC purchased a new position in StandardAero during the fourth quarter valued at approximately $54,000. PNC Financial Services Group Inc. purchased a new position in StandardAero during the fourth quarter valued at approximately $62,000. Finally, Sterling Capital Management LLC purchased a new position in StandardAero during the fourth quarter valued at approximately $78,000.

StandardAero Price Performance

NYSE SARO traded up $0.05 during trading on Thursday, reaching $28.88. The company's stock had a trading volume of 507,592 shares, compared to its average volume of 2,416,651. The business has a 50-day moving average price of $26.85 and a 200-day moving average price of $26.79. 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 posted 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 analyst estimates of $1.51 billion. The company'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 earnings per share for the current fiscal year.

Insider Buying and Selling at StandardAero

In other 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 value of $150,828,732.60. Following the completion of the sale, the insider now directly owns 35,292,362 shares in the company, valued at approximately $963,481,482.60. The trade was a 13.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.90% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wall Street Zen raised shares of StandardAero from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Morgan Stanley lowered their price objective on shares of StandardAero from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Friday, March 14th. Finally, UBS Group boosted 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. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.11.

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.