Point72 Asset Management L.P. Buys New Stake in StandardAero, Inc. (NYSE:SARO)

Point72 Asset Management L.P. purchased a new stake in StandardAero, Inc. (NYSE:SARO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 58,533 shares of the company's stock, valued at approximately $1,449,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuveen Asset Management LLC acquired a new position in StandardAero during the fourth quarter worth approximately $2,687,000. Occudo Quantitative Strategies LP acquired a new position in shares of StandardAero in the 4th quarter valued at $1,019,000. Millennium Management LLC purchased a new stake in StandardAero in the 4th quarter valued at $3,367,000. Lazard Asset Management LLC acquired a new stake in StandardAero during the 4th quarter worth $224,000. Finally, Janus Henderson Group PLC purchased a new position in StandardAero during the 4th quarter worth $145,849,000.

StandardAero Trading Down 2.6%

Shares of StandardAero stock opened at $28.26 on Thursday. StandardAero, Inc. has a 52-week low of $21.31 and a 52-week high of $34.38. The company's 50-day simple moving average is $26.90 and its 200-day simple moving average is $26.82.

StandardAero (NYSE:SARO - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.51 billion. The firm's revenue was up 16.2% on a year-over-year basis. Equities analysts expect that StandardAero, Inc. will post 0.29 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Morgan Stanley decreased their target price on shares of StandardAero from $33.00 to $32.00 and set an "equal weight" rating for the company in a research note on Friday, March 14th. UBS Group increased 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. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $35.11.

Insider Buying and Selling

In other StandardAero news, major shareholder Private Ltd Gic sold 6,629,834 shares of the business's stock in a transaction 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 sale, the insider now directly owns 40,817,224 shares in the company, valued at approximately $1,108,595,803.84. The trade was a 13.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is currently owned by corporate 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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