Renaissance Capital LLC Has $3.44 Million Stake in StandardAero, Inc. (NYSE:SARO)

Renaissance Capital LLC reduced its stake in shares of StandardAero, Inc. (NYSE:SARO - Free Report) by 19.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,106 shares of the company's stock after selling 32,132 shares during the quarter. StandardAero comprises about 2.7% of Renaissance Capital LLC's investment portfolio, making the stock its 17th largest holding. Renaissance Capital LLC's holdings in StandardAero were worth $3,439,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SARO. Mirae Asset Global Investments Co. Ltd. bought a new stake in StandardAero in the fourth quarter worth about $486,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in StandardAero in the fourth quarter worth about $224,000. Legato Capital Management LLC bought a new stake in StandardAero in the fourth quarter worth about $335,000. Rhumbline Advisers bought a new stake in StandardAero in the fourth quarter worth about $1,245,000. Finally, New York State Common Retirement Fund bought a new stake in StandardAero in the fourth quarter worth about $2,081,000.

Analyst Ratings Changes

A number of brokerages recently weighed in on SARO. Morgan Stanley dropped their price target on StandardAero from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Friday, March 14th. Wall Street Zen raised StandardAero from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Finally, UBS Group lifted their price target on StandardAero from $25.00 to $30.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $35.11.

StandardAero Trading Up 0.2%

NYSE:SARO traded up $0.05 on Tuesday, hitting $30.80. 1,474,738 shares of the company's stock traded hands, compared to its average volume of 2,272,515. StandardAero, Inc. has a 1 year low of $21.31 and a 1 year high of $34.38. The firm has a 50-day moving average price of $27.29 and a 200-day moving average price of $26.85.

StandardAero (NYSE:SARO - Get Free Report) last released its earnings results 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 business had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.51 billion. The firm's revenue was up 16.2% on a year-over-year basis. As a group, equities research analysts forecast 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 StandardAero stock in a transaction dated 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 sale, the insider now directly owns 35,292,362 shares in the company, valued at $963,481,482.60. The trade was a 13.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 12,983,425 shares of company stock valued at $353,519,326 in the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

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.