Nuveen Asset Management LLC acquired a new stake in shares of StandardAero, Inc. (NYSE:SARO - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 108,504 shares of the company's stock, valued at approximately $2,687,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new position in shares of StandardAero during the 4th quarter worth about $28,000. R Squared Ltd acquired a new stake in StandardAero in the 4th quarter worth about $39,000. MetLife Investment Management LLC purchased a new stake in StandardAero during the 4th quarter worth approximately $54,000. PNC Financial Services Group Inc. acquired a new position in shares of StandardAero during the fourth quarter valued at approximately $62,000. Finally, Sterling Capital Management LLC purchased a new position in shares of StandardAero in the fourth quarter valued at approximately $78,000.
Analyst Ratings Changes
Several analysts recently commented on SARO shares. Wall Street Zen upgraded StandardAero from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. UBS Group lifted their target price on shares of StandardAero from $25.00 to $30.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Finally, Morgan Stanley dropped their target price on shares of StandardAero from $33.00 to $32.00 and set an "equal weight" rating for the company in a report on Friday, March 14th. Three equities research 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $35.11.
Read Our Latest Research Report on SARO
Insider Activity
In other news, major shareholder Private Ltd Gic sold 5,524,862 shares of the company's 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 now owns 35,292,362 shares of the company's stock, valued at $963,481,482.60. This represents a 13.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 12,983,425 shares of company stock valued at $353,519,326 in the last 90 days. Company insiders own 1.90% of the company's stock.
StandardAero Stock Up 2.7%
Shares of SARO traded up $0.81 during midday trading on Friday, reaching $30.51. The company had a trading volume of 3,430,534 shares, compared to its average volume of 2,279,289. StandardAero, Inc. has a 1-year low of $21.31 and a 1-year high of $34.38. The firm has a 50 day simple moving average of $27.11 and a 200-day simple moving average of $26.84.
StandardAero (NYSE:SARO - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.51 billion. StandardAero's quarterly revenue was up 16.2% compared to the same quarter last year. As a group, equities analysts forecast that StandardAero, Inc. will post 0.29 EPS for the current year.
About StandardAero
(
Free Report)
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.
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