StandardAero, Inc. (NYSE:SARO) Major Shareholder Private Ltd Gic Sells 828,729 Shares

StandardAero, Inc. (NYSE:SARO - Get Free Report) major shareholder Private Ltd Gic sold 828,729 shares of StandardAero stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $27.30, for a total transaction of $22,624,301.70. Following the sale, the insider now owns 34,463,633 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Private Ltd Gic also recently made the following trade(s):

• On Friday, May 23rd, Private Ltd Gic sold 5,524,862 shares of StandardAero stock. The shares were sold at an average price of $27.30, for a total transaction of $150,828,732.60.
• On Thursday, March 27th, Private Ltd Gic sold 6,629,834 shares of StandardAero stock. The shares were sold at an average price of $27.16, for a total transaction of $180,066,291.44.

StandardAero Trading Up 0.9%

SARO traded up $0.27 during trading on Monday, reaching $29.60. The company had a trading volume of 1,621,761 shares, compared to its average volume of 2,271,199. The firm's 50-day simple moving average is $26.89 and its 200 day simple moving average is $26.77. StandardAero, Inc. has a 12-month low of $21.31 and a 12-month high of $34.38.

StandardAero (NYSE:SARO - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.19 earnings per share 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. StandardAero's quarterly revenue was up 16.2% on a year-over-year basis. Analysts expect that StandardAero, Inc. will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On StandardAero

A number of institutional investors have recently bought and sold shares of the stock. DLD Asset Management LP purchased a new position in StandardAero in the 1st quarter worth about $1,332,000. Rhumbline Advisers increased its stake in StandardAero by 45.9% in the 1st quarter. Rhumbline Advisers now owns 73,365 shares of the company's stock worth $1,954,000 after purchasing an additional 23,086 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in StandardAero in the 1st quarter worth about $12,343,000. Woodline Partners LP grew its stake in StandardAero by 71.7% during the 1st quarter. Woodline Partners LP now owns 655,553 shares of the company's stock valued at $17,464,000 after acquiring an additional 273,697 shares in the last quarter. Finally, Yaupon Capital Management LP grew its stake in StandardAero by 308.6% during the 1st quarter. Yaupon Capital Management LP now owns 525,000 shares of the company's stock valued at $13,986,000 after acquiring an additional 396,518 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SARO shares. Morgan Stanley cut 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. UBS Group lifted their target price on StandardAero from $25.00 to $30.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Finally, Wall Street Zen raised StandardAero from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, StandardAero presently has an average rating of "Moderate Buy" and a consensus price target of $35.11.

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.