StandardAero, Inc. $SARO Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. raised its stake in shares of StandardAero, Inc. (NYSE:SARO) by 2.2% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,863,983 shares of the company’s stock after buying an additional 60,500 shares during the period. Federated Hermes Inc.’s holdings in StandardAero were worth $90,645,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Carlyle Group Inc. grew its holdings in StandardAero by 13.6% during the second quarter. Carlyle Group Inc. now owns 152,673,891 shares of the company’s stock worth $4,832,129,000 after acquiring an additional 18,321,061 shares during the period. Vanguard Group Inc. lifted its holdings in StandardAero by 53.2% in the first quarter. Vanguard Group Inc. now owns 9,133,766 shares of the company’s stock valued at $243,324,000 after acquiring an additional 3,171,404 shares during the period. Allspring Global Investments Holdings LLC boosted its position in StandardAero by 311.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,548,613 shares of the company’s stock worth $261,759,000 after purchasing an additional 6,471,813 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in StandardAero by 29.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 8,418,195 shares of the company’s stock worth $224,261,000 after purchasing an additional 1,902,687 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of StandardAero by 9.1% during the 1st quarter. Wellington Management Group LLP now owns 8,106,811 shares of the company’s stock worth $215,965,000 after purchasing an additional 678,520 shares during the period.

Insiders Place Their Bets

In related news, insider Alex Trapp sold 73,718 shares of StandardAero stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $28.06, for a total value of $2,068,527.08. Following the sale, the insider directly owned 16,908 shares in the company, valued at approximately $474,438.48. The trade was a 81.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 90,626 shares of company stock valued at $2,554,051.

Analyst Ratings Changes

SARO has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of StandardAero in a report on Monday, December 1st. Truist Financial started coverage on shares of StandardAero in a research report on Friday, October 10th. They set a “buy” rating and a $35.00 price target on the stock. Zacks Research raised shares of StandardAero from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Wall Street Zen lowered shares of StandardAero from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Barclays initiated coverage on StandardAero in a research report on Friday, September 12th. They set an “equal weight” rating and a $32.00 target price on the stock. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $32.43.

StandardAero Price Performance

Shares of NYSE SARO opened at $26.49 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.48 and a current ratio of 2.18. The firm has a fifty day moving average of $26.87 and a 200 day moving average of $28.03. The firm has a market cap of $8.86 billion, a PE ratio of 48.17 and a beta of 1.16. StandardAero, Inc. has a one year low of $21.31 and a one year high of $31.97.

StandardAero (NYSE:SARO) last announced its earnings results on Monday, November 10th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.43 billion. StandardAero had a net margin of 3.15% and a return on equity of 9.63%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.06 earnings per share. As a group, research analysts predict that StandardAero, Inc. will post 0.29 EPS 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.