New York State Common Retirement Fund Trims Stock Holdings in StandardAero, Inc. (NYSE:SARO)

New York State Common Retirement Fund trimmed its holdings in shares of StandardAero, Inc. (NYSE:SARO - Free Report) by 16.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,457 shares of the company's stock after selling 13,577 shares during the period. New York State Common Retirement Fund's holdings in StandardAero were worth $1,877,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SARO. PNC Financial Services Group Inc. bought a new stake in shares of StandardAero during the 4th quarter worth $62,000. Sei Investments Co. bought a new stake in StandardAero in the 4th quarter valued at about $1,579,000. Vanguard Group Inc. bought a new stake in StandardAero in the 4th quarter valued at about $147,628,000. JPMorgan Chase & Co. bought a new stake in StandardAero in the 4th quarter valued at about $5,226,000. Finally, Loomis Sayles & Co. L P bought a new stake in StandardAero in the 4th quarter valued at about $12,931,000.

StandardAero Price Performance

NYSE:SARO traded down $0.07 during mid-day trading on Friday, reaching $28.28. The stock had a trading volume of 1,115,199 shares, compared to its average volume of 2,349,562. 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 one year low of $21.31 and a one year high of $34.38. The firm has a 50 day moving average price of $29.90 and a two-hundred day moving average price of $27.72.

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

Analyst Ratings Changes

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

Insider Activity at StandardAero

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

StandardAero Company 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.