Federated Hermes Inc. Invests $62.16 Million in StandardAero, Inc. (NYSE:SARO)

Federated Hermes Inc. acquired a new position in StandardAero, Inc. (NYSE:SARO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,510,500 shares of the company’s stock, valued at approximately $62,160,000.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of StandardAero in the fourth quarter worth approximately $486,000. Renaissance Capital LLC purchased a new stake in StandardAero in the fourth quarter worth $3,992,000. Jennison Associates LLC bought a new stake in shares of StandardAero during the fourth quarter worth $23,063,000. Harbor Advisors LLC purchased a new stake in shares of StandardAero during the fourth quarter valued at $622,000. Finally, Legato Capital Management LLC bought a new position in shares of StandardAero in the fourth quarter worth about $335,000.

Insider Buying and Selling

In other StandardAero news, major shareholder Private Ltd Gic sold 6,629,834 shares of StandardAero stock in a transaction dated 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 transaction, the insider now owns 40,817,224 shares in the company, valued at $1,108,595,803.84. The trade was a 13.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SARO shares. UBS Group lifted their price objective on shares of StandardAero from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, March 11th. Morgan Stanley decreased their price target on shares of StandardAero from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Friday, March 14th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, StandardAero presently has a consensus rating of “Moderate Buy” and an average target price of $34.89.

StandardAero Price Performance

NYSE:SARO opened at $23.14 on Monday. The firm has a 50-day simple moving average of $27.30. StandardAero, Inc. has a one year low of $20.43 and a one year high of $34.38.

StandardAero (NYSE:SARO) last issued 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 the consensus estimate of $1.37 billion. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. Research analysts forecast that StandardAero, Inc. will post 0.29 earnings per share 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.