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

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

A number of other hedge funds and other institutional investors have also made changes to their positions in SARO. Bessemer Group Inc. bought a new position in StandardAero during the 4th quarter worth approximately $28,000. R Squared Ltd acquired a new position in StandardAero in the fourth quarter worth $39,000. MetLife Investment Management LLC acquired a new position in StandardAero in the fourth quarter worth $54,000. PNC Financial Services Group Inc. bought a new stake in StandardAero during the fourth quarter valued at $62,000. Finally, Sterling Capital Management LLC bought a new position in shares of StandardAero in the 4th quarter worth about $78,000.

Analyst Upgrades and Downgrades

A number of analysts have 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 boosted their price objective on StandardAero from $25.00 to $30.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Finally, Morgan Stanley cut their target price on StandardAero from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Friday, March 14th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, StandardAero presently has an average rating of "Moderate Buy" and an average price target of $35.11.

Insiders Place Their Bets

In other news, major shareholder Private Ltd Gic sold 6,629,834 shares of the 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 12,983,425 shares of company stock worth $353,519,326. Company insiders own 1.90% of the company's stock.

StandardAero Price Performance

NYSE:SARO traded up $0.13 during mid-day trading on Wednesday, reaching $29.86. 165,980 shares of the stock were exchanged, compared to its average volume of 2,262,490. StandardAero, Inc. has a 1-year low of $21.31 and a 1-year high of $34.38. The business has a fifty day moving average price of $26.92 and a 200 day moving average price of $26.80.

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