Rhumbline Advisers Raises Stock Position in StandardAero, Inc. (NYSE:SARO)

Rhumbline Advisers increased its position in shares of StandardAero, Inc. (NYSE:SARO - Free Report) by 45.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,365 shares of the company's stock after buying an additional 23,086 shares during the period. Rhumbline Advisers' holdings in StandardAero were worth $1,954,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SARO. Wellington Management Group LLP acquired a new position in shares of StandardAero in the 4th quarter valued at about $183,924,000. Carlyle Group Inc. acquired a new position in shares of StandardAero during the 4th quarter worth $165,294,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of StandardAero during the 4th quarter worth $161,324,000. Price T Rowe Associates Inc. MD bought a new stake in shares of StandardAero during the 4th quarter worth $155,829,000. Finally, Vanguard Group Inc. acquired a new stake in StandardAero in the 4th quarter worth $147,628,000.

Insider Activity at StandardAero

In other 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 transaction of $22,624,301.70. Following the sale, the insider now directly owns 34,463,633 shares in the company, valued at $940,857,180.90. This represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders have sold 12,983,425 shares of company stock worth $353,519,326.

StandardAero Stock Performance

NYSE SARO opened at $30.22 on Wednesday. The company has a fifty day simple moving average of $28.03 and a 200 day simple moving average of $26.91. StandardAero, Inc. has a 12-month low of $21.31 and a 12-month 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.

StandardAero (NYSE:SARO - Get Free Report) last issued 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 for the quarter, compared to the consensus estimate of $1.51 billion. The business's revenue was up 16.2% on a year-over-year basis. As a group, sell-side analysts expect that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. UBS Group raised their price objective on shares of StandardAero from $25.00 to $30.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Wall Street Zen downgraded shares of StandardAero from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Morgan Stanley reduced their price objective on shares of StandardAero from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Friday, March 14th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.11.

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.

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