Cerity Partners LLC Invests $1.70 Million in StandardAero, Inc. (NYSE:SARO)

Cerity Partners LLC purchased a new position in StandardAero, Inc. (NYSE:SARO - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 68,479 shares of the company's stock, valued at approximately $1,696,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SARO. Federated Hermes Inc. purchased a new position in shares of StandardAero during the fourth quarter valued at approximately $62,160,000. Russell Investments Group Ltd. purchased a new position in StandardAero during the 4th quarter valued at $204,000. Wells Fargo & Company MN bought a new position in StandardAero in the 4th quarter worth $815,000. Westpac Banking Corp purchased a new stake in shares of StandardAero in the 4th quarter worth about $229,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of StandardAero during the fourth quarter valued at about $102,894,000.

StandardAero Stock Up 2.7 %

SARO stock traded up $0.66 on Tuesday, reaching $24.88. 1,288,084 shares of the company traded hands, compared to its average volume of 2,215,756. The firm has a fifty day simple moving average of $26.60 and a 200-day simple moving average of $27.25. StandardAero, Inc. has a one year low of $21.31 and a one year high of $34.38.

StandardAero (NYSE:SARO - Get Free Report) last issued its quarterly earnings results on Monday, March 10th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.20). The firm had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.37 billion. The firm's quarterly revenue was up 21.8% compared to the same quarter last year. On average, research analysts forecast that StandardAero, Inc. will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

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

Analysts Set New Price Targets

SARO has been the topic of several research reports. Morgan Stanley cut their price objective on StandardAero from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Friday, March 14th. UBS Group lifted 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. Three investment 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $34.89.

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.