Readystate Asset Management LP Invests $266,000 in StandardAero, Inc. (NYSE:SARO)

Readystate Asset Management LP purchased a new position in shares of StandardAero, Inc. (NYSE:SARO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,000 shares of the company's stock, valued at approximately $266,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new stake in StandardAero during the fourth quarter valued at approximately $28,000. GAMMA Investing LLC raised its stake in shares of StandardAero by 272.3% in the 1st quarter. GAMMA Investing LLC now owns 1,128 shares of the company's stock valued at $30,000 after buying an additional 825 shares in the last quarter. KBC Group NV acquired a new stake in shares of StandardAero during the 1st quarter worth about $52,000. MetLife Investment Management LLC acquired a new stake in shares of StandardAero during the 4th quarter worth about $54,000. Finally, PNC Financial Services Group Inc. acquired a new stake in StandardAero in the 4th quarter valued at about $62,000.

Insiders Place Their Bets

In related news, major shareholder Private Ltd Gic sold 828,729 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $27.30, for a total value of $22,624,301.70. Following the completion of the transaction, the insider owned 34,463,633 shares of the company's stock, valued at approximately $940,857,180.90. This represents a 2.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.90% of the company's stock.

StandardAero Trading Down 0.2%

Shares of NYSE:SARO traded down $0.07 during midday trading on Friday, reaching $28.28. 1,115,199 shares of the company's stock traded hands, compared to its average volume of 2,349,562. StandardAero, Inc. has a one year low of $21.31 and a one year high of $34.38. The stock has a 50 day moving average of $29.90 and a 200 day moving average of $27.72. The company has a current ratio of 2.00, a quick ratio of 1.37 and a debt-to-equity ratio of 0.95.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SARO. CIBC reduced their price objective 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. Wall Street Zen cut shares of StandardAero from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, UBS Group upped their price objective on shares of StandardAero from $25.00 to $30.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $34.67.

StandardAero 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.