Sumitomo Mitsui Trust Group Inc. Increases Stock Position in StandardAero, Inc. (NYSE:SARO)

Sumitomo Mitsui Trust Group Inc. grew its position in shares of StandardAero, Inc. (NYSE:SARO) by 83.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,626 shares of the company’s stock after purchasing an additional 7,578 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in StandardAero were worth $443,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of StandardAero by 272.3% in the 1st quarter. GAMMA Investing LLC now owns 1,128 shares of the company’s stock valued at $30,000 after purchasing an additional 825 shares during the period. Bessemer Group Inc. acquired a new stake in shares of StandardAero in the fourth quarter valued at approximately $28,000. MetLife Investment Management LLC purchased a new position in shares of StandardAero during the fourth quarter worth approximately $54,000. PNC Financial Services Group Inc. acquired a new position in shares of StandardAero in the 4th quarter valued at $62,000. Finally, Sterling Capital Management LLC acquired a new position in shares of StandardAero in the 4th quarter valued at $78,000.

StandardAero Stock Performance

Shares of SARO opened at $30.88 on Friday. StandardAero, Inc. has a twelve month low of $21.31 and a twelve month high of $34.38. The stock’s 50 day moving average is $29.39 and its two-hundred day moving average is $27.23. The company has a quick ratio of 1.37, a current ratio of 2.00 and a debt-to-equity ratio of 0.95.

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

Analyst Ratings Changes

Several research analysts have issued reports on SARO shares. Morgan Stanley lowered their price objective on shares of StandardAero from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Friday, March 14th. Wall Street Zen downgraded shares of StandardAero from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Finally, UBS Group raised their price target on StandardAero from $25.00 to $30.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned 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 target price of $35.11.

Insider Buying and Selling

In other StandardAero news, major shareholder Private Ltd Gic sold 828,729 shares of the business’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $27.30, for a total transaction of $22,624,301.70. Following the sale, the insider directly owned 34,463,633 shares in the company, valued at approximately $940,857,180.90. The trade was a 2.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.90% of the company’s stock.

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.