Balyasny Asset Management L.P. Buys New Position in StandardAero, Inc. (NYSE:SARO)

Balyasny Asset Management L.P. 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 13F filing with the SEC. The fund acquired 495,700 shares of the company's stock, valued at approximately $12,274,000. Balyasny Asset Management L.P. owned 0.15% of StandardAero as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Bessemer Group Inc. purchased a new position in StandardAero during the 4th quarter valued at $28,000. R Squared Ltd purchased a new position in StandardAero during the 4th quarter valued at $39,000. MetLife Investment Management LLC purchased a new position in StandardAero during the 4th quarter valued at $54,000. PNC Financial Services Group Inc. purchased a new position in StandardAero during the 4th quarter valued at $62,000. Finally, Sterling Capital Management LLC purchased a new position in StandardAero during the 4th quarter valued at $78,000.

Insider Transactions at StandardAero

In other news, major shareholder Private Ltd Gic sold 6,629,834 shares of the business'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 completion of the transaction, the insider now directly owns 40,817,224 shares of the company's stock, valued at approximately $1,108,595,803.84. The trade was a 13.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

SARO has been the subject of a number of research analyst reports. UBS Group lifted their target price on StandardAero from $25.00 to $30.00 and gave the company a "neutral" rating in a research report on Tuesday. Morgan Stanley decreased their target price on StandardAero from $33.00 to $32.00 and set an "equal weight" rating for the company in a research report on Friday, March 14th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $35.11.

StandardAero Trading Up 2.2%

Shares of SARO traded up $0.67 during trading hours on Wednesday, hitting $30.52. The company had a trading volume of 859,753 shares, compared to its average volume of 2,155,528. StandardAero, Inc. has a one year low of $21.31 and a one year high of $34.38. The company's fifty day moving average price is $26.69 and its two-hundred day moving average price is $26.79.

StandardAero (NYSE:SARO - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.51 billion. StandardAero's revenue for the quarter was up 16.2% on a year-over-year basis. As a group, equities research analysts anticipate that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

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.