Blackstone Inc. Buys Shares of 360,000 StandardAero, Inc. (NYSE:SARO)

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

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bessemer Group Inc. acquired a new position in StandardAero during the fourth quarter worth $28,000. R Squared Ltd purchased a new stake in StandardAero during the 4th quarter valued at about $39,000. MetLife Investment Management LLC purchased a new position in StandardAero during the fourth quarter worth approximately $54,000. PNC Financial Services Group Inc. acquired a new position in shares of StandardAero during the 4th quarter valued at about $62,000. Finally, Sterling Capital Management LLC purchased a new stake in shares of StandardAero in the fourth quarter valued at about $78,000.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SARO. 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 report on Tuesday, March 11th. Morgan Stanley decreased their price objective 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 investment 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $34.89.

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 shares were sold at an average price of $27.16, for a total transaction of $180,066,291.44. Following the completion of the sale, the insider now directly owns 40,817,224 shares in the company, valued at approximately $1,108,595,803.84. This trade represents a 13.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

StandardAero Stock Down 1.1 %

Shares of NYSE:SARO traded down $0.32 during trading on Friday, hitting $27.53. 2,915,853 shares of the company were exchanged, compared to its average volume of 2,150,023. StandardAero, Inc. has a 12-month low of $21.31 and a 12-month high of $34.38. The firm's 50 day moving average price is $26.60 and its 200-day moving average price is $26.81.

StandardAero (NYSE:SARO - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $1.37 billion. StandardAero's quarterly revenue was up 21.8% compared to the same quarter last year. On average, equities analysts predict that StandardAero, Inc. will post 0.29 EPS for the current fiscal year.

About StandardAero

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.