StandardAero, Inc. (NYSE:SARO) Major Shareholder Sells $180,066,291.44 in Stock

StandardAero, Inc. (NYSE:SARO - Get Free Report) major shareholder Private Ltd Gic sold 6,629,834 shares of StandardAero stock in a transaction that occurred 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 sale, the insider now directly owns 40,817,224 shares of the company's stock, valued at approximately $1,108,595,803.84. The trade was a 13.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

StandardAero Trading Up 1.3 %

StandardAero stock traded up $0.34 during trading hours on Tuesday, hitting $26.98. The stock had a trading volume of 979,075 shares, compared to its average volume of 2,052,233. The business has a 50 day moving average of $27.30. StandardAero, Inc. has a one year low of $22.50 and a one year high of $34.38.

StandardAero (NYSE:SARO - Get Free Report) last issued its quarterly earnings data on Monday, March 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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. StandardAero's revenue for the quarter was up 21.8% on a year-over-year basis. As a group, analysts predict that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

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Hedge Funds Weigh In On StandardAero

A number of hedge funds have recently modified their holdings of SARO. Mirae Asset Global Investments Co. Ltd. acquired a new stake in StandardAero in the fourth quarter valued at $486,000. Renaissance Capital LLC acquired a new stake in shares of StandardAero in the fourth quarter valued at about $3,992,000. Jennison Associates LLC acquired a new stake in shares of StandardAero in the fourth quarter valued at about $23,063,000. Legato Capital Management LLC bought a new position in shares of StandardAero during the fourth quarter worth about $335,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of StandardAero in the fourth quarter worth approximately $224,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SARO shares. UBS Group upped their price target on shares of StandardAero from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday, March 11th. Morgan Stanley decreased their target price 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 analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.89.

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.