Federated Hermes Inc. Acquires New Shares in StandardAero, Inc. (NYSE:SARO)

Federated Hermes Inc. acquired a new position in shares of StandardAero, Inc. (NYSE:SARO - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,510,500 shares of the company's stock, valued at approximately $62,160,000. Federated Hermes Inc. owned approximately 0.75% of StandardAero as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd acquired a new stake in shares of StandardAero in the fourth quarter valued at approximately $39,000. Jennison Associates LLC acquired a new stake in StandardAero in the 4th quarter valued at $23,063,000. Renaissance Capital LLC bought a new stake in StandardAero during the 4th quarter worth about $3,992,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of StandardAero during the 4th quarter worth about $486,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new position in shares of StandardAero in the 4th quarter valued at about $224,000.

Insider Activity at StandardAero

In other news, major shareholder Private Ltd Gic sold 6,629,834 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $27.16, for a total value of $180,066,291.44. Following the completion of the transaction, the insider now directly owns 40,817,224 shares in the company, valued at approximately $1,108,595,803.84. The trade was a 13.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analysts Set New Price Targets

Several research analysts recently commented on the company. UBS Group increased their price target on StandardAero from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Tuesday, March 11th. Morgan Stanley dropped their price target on shares of StandardAero from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.89.

StandardAero Trading Down 0.1 %

Shares of NYSE SARO traded down $0.03 during trading hours on Friday, reaching $24.50. 2,660,970 shares of the stock were exchanged, compared to its average volume of 2,228,797. The company's fifty day simple moving average is $26.91. StandardAero, Inc. has a 52 week low of $21.31 and a 52 week high of $34.38.

StandardAero (NYSE:SARO - Get Free Report) last released its quarterly earnings results on Monday, March 10th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.20). The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.37 billion. The business's quarterly revenue was up 21.8% compared to the same quarter last year. Analysts forecast that StandardAero, Inc. will post 0.29 EPS for the current year.

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.