Millennium Management LLC Buys 1,095,893 Shares of StandardAero, Inc. $SARO

Key Points

• Millennium Management LLC increased its stake in StandardAero, Inc. by 805.8%, now holding approximately $32.82 million worth of shares.
• Other institutional investors have also significantly raised their positions in StandardAero, with Carlyle Group Inc. boosting its stake by 1,912.5%.
• StandardAero reported $0.20 EPS for the last quarter, which missed expectations by $0.01, although revenue grew by 13.5% year-over-year.

Millennium Management LLC boosted its holdings in StandardAero, Inc. (NYSE:SARO - Free Report) by 805.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,231,894 shares of the company's stock after purchasing an additional 1,095,893 shares during the period. Millennium Management LLC owned about 0.37% of StandardAero worth $32,818,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Carlyle Group Inc. increased its holdings in StandardAero by 1,912.5% during the first quarter. Carlyle Group Inc. now owns 134,352,830 shares of the company's stock worth $3,579,159,000 after buying an additional 127,676,968 shares during the last quarter. Vanguard Group Inc. increased its holdings in StandardAero by 53.2% during the first quarter. Vanguard Group Inc. now owns 9,133,766 shares of the company's stock worth $243,324,000 after buying an additional 3,171,404 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in StandardAero by 29.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 8,418,195 shares of the company's stock worth $224,261,000 after buying an additional 1,902,687 shares during the last quarter. Wellington Management Group LLP increased its holdings in StandardAero by 9.1% during the first quarter. Wellington Management Group LLP now owns 8,106,811 shares of the company's stock worth $215,965,000 after buying an additional 678,520 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in StandardAero by 49.4% during the first quarter. Alliancebernstein L.P. now owns 4,552,851 shares of the company's stock worth $121,288,000 after buying an additional 1,505,726 shares during the last quarter.

Analyst Ratings Changes

SARO has been the subject of a number of research analyst reports. Wall Street Zen cut shares of StandardAero from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Barclays initiated coverage on shares of StandardAero in a research report on Friday. They set an "equal weight" rating and a $32.00 price objective for the company. Finally, CIBC reduced their price objective on shares of StandardAero from $35.00 to $34.00 and set an "outperformer" rating for the company in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, StandardAero presently has a consensus rating of "Moderate Buy" and an average target price of $34.40.

StandardAero Price Performance

SARO stock traded up $0.25 during midday trading on Tuesday, reaching $27.27. The company had a trading volume of 1,310,366 shares, compared to its average volume of 1,378,714. The company has a market capitalization of $9.12 billion and a price-to-earnings ratio of 66.51. The stock has a 50 day moving average price of $27.96 and a 200-day moving average price of $28.05. StandardAero, Inc. has a 1-year low of $21.31 and a 1-year high of $34.38. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.15 and a quick ratio of 1.49.

StandardAero (NYSE:SARO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. StandardAero had a net margin of 2.37% and a return on equity of 8.87%. The firm's revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the firm earned $0.02 EPS. StandardAero has set its FY 2025 guidance at EPS. Equities research analysts expect that StandardAero, Inc. will post 0.29 earnings per share for the current 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.