Zimmer Partners LP Makes New Investment in StandardAero, Inc. (NYSE:SARO)

Zimmer Partners LP purchased a new stake in shares of StandardAero, Inc. (NYSE:SARO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 150,000 shares of the company's stock, valued at approximately $3,714,000.

Other large investors also recently modified their holdings of the company. Carlyle Group Inc. acquired a new position in shares of StandardAero during the fourth quarter valued at $165,294,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of StandardAero during the fourth quarter valued at $486,000. Renaissance Capital LLC acquired a new position in shares of StandardAero during the fourth quarter valued at $3,992,000. Jennison Associates LLC acquired a new position in shares of StandardAero during the fourth quarter valued at $23,063,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of StandardAero during the fourth quarter valued at $5,226,000.

Insider Buying and Selling

In related news, major shareholder Private Ltd Gic sold 6,629,834 shares of StandardAero stock in a transaction dated 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 owns 40,817,224 shares of the company's stock, valued at approximately $1,108,595,803.84. This trade represents a 13.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SARO has been the topic of a number of research analyst reports. Morgan Stanley lowered their target price on StandardAero from $33.00 to $32.00 and set an "equal weight" rating on the stock in a report on Friday, March 14th. Wall Street Zen raised StandardAero from a "hold" rating to a "buy" rating in a report on Saturday. Finally, UBS Group lifted their target price on StandardAero from $25.00 to $30.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, StandardAero currently has a consensus rating of "Moderate Buy" and an average target price of $35.11.

StandardAero Trading Up 0.7%

SARO traded up $0.19 during trading on Friday, reaching $28.19. The company had a trading volume of 7,276,812 shares, compared to its average volume of 2,263,175. The firm's 50-day simple moving average is $26.87 and its 200 day simple moving average is $26.81. StandardAero, Inc. has a 12-month low of $21.31 and a 12-month high of $34.38.

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

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.