Squarepoint Ops LLC Buys Shares of 259,376 StandardAero, Inc. (NYSE:SARO)

Squarepoint Ops LLC bought a new position in shares of StandardAero, Inc. (NYSE:SARO - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 259,376 shares of the company's stock, valued at approximately $6,422,000. Squarepoint Ops LLC owned 0.08% of StandardAero at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several research firms have recently commented on SARO. Wall Street Zen raised shares of StandardAero from a "hold" rating to a "buy" rating in a research report on Saturday. UBS Group lifted their price objective 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. Finally, Morgan Stanley cut 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. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, StandardAero currently has an average rating of "Moderate Buy" and an average price target of $35.11.

StandardAero Stock Performance

Shares of NYSE SARO traded up $0.16 during trading hours on Wednesday, hitting $28.84. 2,865,991 shares of the company traded hands, compared to its average volume of 2,276,654. StandardAero, Inc. has a 12 month low of $21.31 and a 12 month high of $34.38. The company's 50 day moving average price is $26.85 and its 200 day moving average price is $26.77.

StandardAero (NYSE:SARO - Get Free Report) last released its earnings results on Monday, May 12th. The company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.02. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.51 billion. The firm's revenue for the quarter 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.

Insiders Place Their Bets

In other news, major shareholder Private Ltd Gic sold 6,629,834 shares of the company'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 value of $180,066,291.44. Following the completion of the sale, the insider now owns 40,817,224 shares of the company's stock, valued at approximately $1,108,595,803.84. This represents a 13.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.90% of the company's stock.

About StandardAero

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.