Millennium Management LLC Makes New $3.37 Million Investment in StandardAero, Inc. (NYSE:SARO)

Millennium Management LLC acquired a new position in StandardAero, Inc. (NYSE:SARO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 136,001 shares of the company's stock, valued at approximately $3,367,000.

Several other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP purchased a new position in StandardAero during the fourth quarter valued at approximately $183,924,000. Carlyle Group Inc. purchased a new position in StandardAero during the fourth quarter valued at approximately $165,294,000. T. Rowe Price Investment Management Inc. purchased a new position in StandardAero during the fourth quarter valued at approximately $161,324,000. Price T Rowe Associates Inc. MD purchased a new position in StandardAero during the fourth quarter valued at approximately $155,829,000. Finally, Vanguard Group Inc. purchased a new position in StandardAero during the fourth quarter valued at approximately $147,628,000.

StandardAero Stock Up 0.5%

Shares of StandardAero stock traded up $0.14 on Wednesday, reaching $29.87. The company's stock had a trading volume of 1,887,316 shares, compared to its average volume of 2,272,214. The stock has a 50-day moving average price of $26.98 and a 200-day moving average price of $26.82. StandardAero, Inc. has a 52-week low of $21.31 and a 52-week 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.02. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.51 billion. The firm's revenue was up 16.2% compared to the same quarter last year. On average, analysts anticipate that StandardAero, Inc. will post 0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wall Street Zen upgraded StandardAero from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. UBS Group lifted their price target on StandardAero from $25.00 to $30.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Finally, Morgan Stanley reduced their price target 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 equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $35.11.

Insider Transactions at StandardAero

In other news, major shareholder Private Ltd Gic sold 5,524,862 shares of StandardAero stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $27.30, for a total value of $150,828,732.60. Following the sale, the insider now directly owns 35,292,362 shares of the company's stock, valued at $963,481,482.60. The trade was a 13.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 12,983,425 shares of company stock valued at $353,519,326 over the last ninety days. Insiders own 1.90% of the company's stock.

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.