Wells Fargo & Company MN Buys Shares of 32,915 StandardAero, Inc. (NYSE:SARO)

Wells Fargo & Company MN bought a new stake in shares of StandardAero, Inc. (NYSE:SARO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 32,915 shares of the company’s stock, valued at approximately $815,000.

A number of other institutional investors have also added to or reduced their stakes in the business. R Squared Ltd bought a new position in shares of StandardAero during the 4th quarter worth approximately $39,000. PNC Financial Services Group Inc. purchased a new stake in shares of StandardAero during the 4th quarter valued at $62,000. Amalgamated Bank purchased a new stake in shares of StandardAero during the 4th quarter valued at $98,000. Daiwa Securities Group Inc. purchased a new stake in shares of StandardAero during the 4th quarter valued at $107,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of StandardAero during the 4th quarter valued at $224,000.

Analyst Ratings Changes

Several analysts have recently commented on the company. UBS Group increased their price objective on 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 objective on StandardAero from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.89.

Insider Activity

In related news, major shareholder Private Ltd Gic sold 6,629,834 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

StandardAero Stock Up 0.2 %

Shares of SARO opened at $26.98 on Thursday. The business’s 50-day moving average is $26.57 and its two-hundred day moving average is $27.05. StandardAero, Inc. has a fifty-two week low of $21.31 and a fifty-two week high of $34.38.

StandardAero (NYSE:SARO) last announced 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 business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.37 billion. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, analysts anticipate that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

StandardAero 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.