Alkeon Capital Management LLC Buys New Stake in StandardAero, Inc. (NYSE:SARO)

Alkeon Capital Management LLC acquired a new stake in shares of StandardAero, Inc. (NYSE:SARO - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,620,000 shares of the company's stock, valued at approximately $40,111,000. Alkeon Capital Management LLC owned about 0.48% of StandardAero as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. UBS Group upped their price target on StandardAero from $27.00 to $28.00 and gave the stock a "neutral" rating in a report on Tuesday, March 11th. Morgan Stanley reduced their target price on StandardAero from $33.00 to $32.00 and set an "equal weight" rating for the company in a research note 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $34.89.

Insiders Place Their Bets

In related news, major shareholder Private Ltd Gic sold 6,629,834 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $27.16, for a total transaction of $180,066,291.44. Following the transaction, the insider now owns 40,817,224 shares of the company's stock, valued at approximately $1,108,595,803.84. This 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 this hyperlink.

StandardAero Stock Performance

SARO opened at $27.85 on Friday. StandardAero, Inc. has a twelve month low of $21.31 and a twelve month high of $34.38. The firm's 50-day moving average price is $26.60 and its 200 day moving average price is $26.99.

StandardAero (NYSE:SARO - Get Free Report) last posted its quarterly earnings results on Monday, March 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm's revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, sell-side analysts predict that StandardAero, Inc. will post 0.29 earnings per share for the current 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.

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