Legal & General Group Plc Takes Position in StandardAero, Inc. (NYSE:SARO)

Legal & General Group Plc acquired a new stake in shares of StandardAero, Inc. (NYSE:SARO) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,716 shares of the company’s stock, valued at approximately $141,000.

Several other hedge funds have also made changes to their positions in SARO. R Squared Ltd acquired a new stake in shares of StandardAero during the 4th quarter worth approximately $39,000. PNC Financial Services Group Inc. bought a new position in StandardAero in the fourth quarter valued at approximately $62,000. Amalgamated Bank acquired a new stake in StandardAero during the 4th quarter worth $98,000. Daiwa Securities Group Inc. bought a new stake in shares of StandardAero during the 4th quarter valued at $107,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of StandardAero during the fourth quarter worth $204,000.

Insider Buying and Selling

In other news, 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 completion of the transaction, the insider now owns 40,817,224 shares in the company, valued at approximately $1,108,595,803.84. The trade was a 13.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

SARO has been the topic of several research analyst reports. UBS Group raised their price objective on StandardAero from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 11th. Morgan Stanley lowered their target price on 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 equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.89.

StandardAero Trading Up 0.4 %

NYSE:SARO opened at $27.13 on Friday. The firm’s fifty day simple moving average is $26.58 and its 200 day simple moving average is $27.02. StandardAero, Inc. has a twelve month low of $21.31 and a twelve month high of $34.38.

StandardAero (NYSE:SARO) last announced its earnings results on Monday, March 10th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.20). The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.37 billion. The company’s revenue was up 21.8% on a year-over-year basis. On average, analysts expect that StandardAero, Inc. will post 0.29 EPS for the current 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.