Insider Selling: StandardAero, Inc. (NYSE:SARO) Major Shareholder Sells 6,629,834 Shares of Stock

StandardAero, Inc. (NYSE:SARO) major shareholder Private Ltd Gic sold 6,629,834 shares of StandardAero 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 owns 40,817,224 shares in the company, valued at $1,108,595,803.84. This trade represents a 13.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

StandardAero Stock Performance

Shares of NYSE SARO opened at $27.18 on Friday. StandardAero, Inc. has a one year low of $22.50 and a one year high of $34.38. The stock’s fifty day moving average is $27.26.

StandardAero (NYSE:SARO) last released its quarterly earnings data on Monday, March 10th. The company reported ($0.04) 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 analysts’ expectations of $1.37 billion. The company’s quarterly revenue was up 21.8% on a year-over-year basis. Analysts forecast that StandardAero, Inc. will post 0.29 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SARO. Morgan Stanley decreased their price target on StandardAero from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. UBS Group raised their target price on shares of StandardAero from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 11th. Three equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.89.

Institutional Investors Weigh In On StandardAero

A number of institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in StandardAero during the fourth quarter worth $486,000. Renaissance Capital LLC acquired a new position in shares of StandardAero during the 4th quarter worth $3,992,000. Jennison Associates LLC purchased a new stake in shares of StandardAero in the 4th quarter worth about $23,063,000. Legato Capital Management LLC acquired a new stake in StandardAero in the 4th quarter valued at about $335,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in StandardAero during the 4th quarter valued at about $224,000.

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.