Blackstone Inc. Makes New Investment in StandardAero, Inc. (NYSE:SARO)

Blackstone Inc. acquired a new stake in StandardAero, Inc. (NYSE:SARO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 360,000 shares of the company's stock, valued at approximately $8,914,000. Blackstone Inc. owned 0.11% of StandardAero at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SARO. Wellington Management Group LLP acquired a new position in shares of StandardAero in the 4th quarter valued at $183,924,000. Carlyle Group Inc. acquired a new position in StandardAero in the fourth quarter worth about $165,294,000. T. Rowe Price Investment Management Inc. bought a new position in StandardAero during the fourth quarter worth about $161,324,000. Price T Rowe Associates Inc. MD acquired a new stake in StandardAero during the fourth quarter valued at approximately $155,829,000. Finally, Vanguard Group Inc. bought a new stake in shares of StandardAero in the 4th quarter valued at approximately $147,628,000.

StandardAero Trading Down 1.1 %

SARO traded down $0.32 during midday trading on Friday, hitting $27.53. The company had a trading volume of 2,915,853 shares, compared to its average volume of 2,150,023. StandardAero, Inc. has a twelve month low of $21.31 and a twelve month high of $34.38. The firm's 50-day simple moving average is $26.60 and its 200-day simple moving average is $26.84.

StandardAero (NYSE:SARO - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.37 billion. StandardAero's revenue was up 21.8% on a year-over-year basis. As a group, equities analysts anticipate that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on SARO shares. Morgan Stanley decreased their price target on StandardAero from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Friday, March 14th. UBS Group boosted their target price on shares of StandardAero from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday, March 11th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $34.89.

Insider Activity at StandardAero

In other news, major shareholder Private Ltd Gic sold 6,629,834 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 40,817,224 shares in the company, valued at $1,108,595,803.84. This trade represents a 13.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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.