Point72 Asset Management L.P. Takes $1.45 Million Position in StandardAero, Inc. (NYSE:SARO)

Point72 Asset Management L.P. acquired a new position in shares of StandardAero, Inc. (NYSE:SARO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 58,533 shares of the company's stock, valued at approximately $1,449,000.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in StandardAero during the 4th quarter worth about $183,924,000. Carlyle Group Inc. bought a new position in StandardAero during the 4th quarter worth about $165,294,000. T. Rowe Price Investment Management Inc. bought a new position in StandardAero during the 4th quarter worth about $161,324,000. Price T Rowe Associates Inc. MD bought a new position in StandardAero during the 4th quarter worth about $155,829,000. Finally, Vanguard Group Inc. bought a new position in StandardAero during the 4th quarter worth about $147,628,000.

StandardAero Trading Up 1.2%

NYSE:SARO traded up $0.35 during mid-day trading on Tuesday, hitting $28.51. The stock had a trading volume of 481,121 shares, compared to its average volume of 2,252,562. StandardAero, Inc. has a twelve month low of $21.31 and a twelve month high of $34.38. The company's 50 day simple moving average is $26.85 and its 200 day simple moving average is $26.76.

StandardAero (NYSE:SARO - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.51 billion. The business's revenue was up 16.2% compared to the same quarter last year. Sell-side analysts forecast that StandardAero, Inc. will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In other StandardAero news, major shareholder Private Ltd Gic sold 6,629,834 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $27.16, for a total transaction of $180,066,291.44. Following the completion of the sale, the insider now directly owns 40,817,224 shares in the company, valued at $1,108,595,803.84. This trade represents a 13.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

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

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.