Massachusetts Financial Services Co. MA Decreases Position in StandardAero, Inc. (NYSE:SARO)

Massachusetts Financial Services Co. MA lowered its stake in shares of StandardAero, Inc. (NYSE:SARO - Free Report) by 9.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,751,892 shares of the company's stock after selling 403,763 shares during the period. Massachusetts Financial Services Co. MA owned 1.12% of StandardAero worth $99,950,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in StandardAero by 272.3% during the first quarter. GAMMA Investing LLC now owns 1,128 shares of the company's stock worth $30,000 after buying an additional 825 shares during the period. Bessemer Group Inc. acquired a new position in shares of StandardAero in the 4th quarter valued at $28,000. KBC Group NV acquired a new position in shares of StandardAero in the 1st quarter valued at $52,000. MetLife Investment Management LLC acquired a new position in shares of StandardAero in the 4th quarter valued at $54,000. Finally, PNC Financial Services Group Inc. acquired a new position in shares of StandardAero in the 4th quarter valued at $62,000.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SARO. CIBC cut their target price on StandardAero from $35.00 to $34.00 and set an "outperformer" rating on the stock in a research report on Tuesday, July 8th. UBS Group upped their target price on StandardAero from $25.00 to $30.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Finally, Wall Street Zen downgraded StandardAero from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Four 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 company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $34.67.

Insider Activity

In related news, major shareholder Private Ltd Gic sold 828,729 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 34,463,633 shares of the company's stock, valued at approximately $940,857,180.90. This trade represents a 2.35% decrease in their position. The sale 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 Stock Up 1.7%

NYSE:SARO traded up $0.50 during mid-day trading on Thursday, hitting $30.77. The company's stock had a trading volume of 1,187,606 shares, compared to its average volume of 2,321,135. StandardAero, Inc. has a 1 year low of $21.31 and a 1 year high of $34.38. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.00 and a quick ratio of 1.37. The business's fifty day moving average is $29.94 and its two-hundred day moving average is $27.52.

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, topping the consensus estimate of $0.17 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.51 billion. StandardAero's quarterly revenue was up 16.2% on a year-over-year basis. As a group, sell-side analysts anticipate that StandardAero, Inc. will post 0.29 earnings per share 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.