Alkeon Capital Management LLC Buys Shares of 1,620,000 StandardAero, Inc. (NYSE:SARO)

Alkeon Capital Management LLC bought a new stake in shares of StandardAero, Inc. (NYSE:SARO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,620,000 shares of the company's stock, valued at approximately $40,111,000. Alkeon Capital Management LLC owned approximately 0.48% of StandardAero at the end of the most recent reporting period.

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

StandardAero Trading Up 2.9 %

SARO traded up $0.78 on Thursday, hitting $27.90. 546,499 shares of the company were exchanged, compared to its average volume of 2,141,106. The firm has a 50-day moving average price of $26.57 and a two-hundred day moving average price of $26.89. StandardAero, Inc. has a twelve month low of $21.31 and a twelve month high of $34.38.

StandardAero (NYSE:SARO - Get Free Report) last issued its 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 firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.37 billion. The company's revenue for the quarter was up 21.8% on a year-over-year basis. Sell-side analysts expect that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SARO shares. UBS Group upped their price target on StandardAero from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Tuesday, March 11th. Morgan Stanley dropped their target price on StandardAero from $33.00 to $32.00 and set an "equal weight" rating for the company in a report on Friday, March 14th. Three 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.89.

Insider Activity

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

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.