Northern Trust Corp Invests $6.61 Million in StandardAero, Inc. (NYSE:SARO)

Northern Trust Corp acquired a new stake in shares of StandardAero, Inc. (NYSE:SARO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 267,054 shares of the company's stock, valued at approximately $6,612,000. Northern Trust Corp owned 0.08% of StandardAero as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP purchased a new stake in StandardAero during the 4th quarter valued at $183,924,000. Carlyle Group Inc. purchased a new stake in StandardAero during the fourth quarter valued at $165,294,000. T. Rowe Price Investment Management Inc. bought a new position in StandardAero in the fourth quarter valued at about $161,324,000. Price T Rowe Associates Inc. MD purchased a new position in StandardAero in the fourth quarter worth about $155,829,000. Finally, Vanguard Group Inc. purchased a new position in StandardAero in the fourth quarter worth about $147,628,000.

Analyst Ratings Changes

Several equities research analysts have recently commented on SARO shares. UBS Group upped their price target on shares of StandardAero from $25.00 to $30.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Morgan Stanley reduced their target price on shares of StandardAero from $33.00 to $32.00 and set an "equal weight" rating for the company in a report on Friday, March 14th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.11.

StandardAero Price Performance

StandardAero stock opened at $29.84 on Tuesday. StandardAero, Inc. has a 12-month low of $21.31 and a 12-month high of $34.38. The firm has a 50 day moving average of $26.90 and a 200 day moving average of $26.80.

StandardAero (NYSE:SARO - Get Free Report) last posted 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 firm 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% compared to the same quarter last year. Sell-side analysts predict that StandardAero, Inc. will post 0.29 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Private Ltd Gic sold 6,629,834 shares of the business's stock in a transaction that occurred 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is currently owned by insiders.

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.

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