Nuveen Asset Management LLC Buys New Position in StandardAero, Inc. (NYSE:SARO)

Nuveen Asset Management LLC bought a new position in shares of StandardAero, Inc. (NYSE:SARO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 108,504 shares of the company’s stock, valued at approximately $2,687,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. acquired a new position in shares of StandardAero in the 4th quarter worth approximately $28,000. R Squared Ltd acquired a new position in StandardAero in the fourth quarter worth approximately $39,000. MetLife Investment Management LLC bought a new position in shares of StandardAero in the fourth quarter valued at $54,000. PNC Financial Services Group Inc. acquired a new stake in shares of StandardAero during the 4th quarter valued at $62,000. Finally, Sterling Capital Management LLC bought a new stake in shares of StandardAero during the 4th quarter worth $78,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. UBS Group lifted their price target on StandardAero from $25.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. Wall Street Zen upgraded shares of StandardAero from a “hold” rating to a “buy” rating in a report on Saturday, May 24th. Finally, Morgan Stanley cut their price target on shares of StandardAero from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Friday, March 14th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.11.

Insiders Place Their Bets

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 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 owns 40,817,224 shares of the company’s stock, valued at $1,108,595,803.84. This trade represents a 13.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 12,983,425 shares of company stock valued at $353,519,326 over the last 90 days. 1.90% of the stock is currently owned by company insiders.

StandardAero Trading Up 0.9%

Shares of NYSE:SARO opened at $29.60 on Tuesday. StandardAero, Inc. has a 1 year low of $21.31 and a 1 year high of $34.38. The business has a fifty day simple moving average of $26.89 and a 200 day simple moving average of $26.77.

StandardAero (NYSE:SARO) last issued its earnings results on Monday, May 12th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.51 billion. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. Analysts expect that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal 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.