Thornburg Investment Management Inc. Purchases Shares of 194,295 StandardAero, Inc. (NYSE:SARO)

Key Points

• Thornburg Investment Management Inc. acquired 194,295 shares of StandardAero, Inc. for approximately $5.18 million, representing a 0.06% ownership stake in the company.
• Major shareholder Private Ltd Gic sold over 5.5 million shares, causing a 13.54% decrease in their position, while still retaining around $963 million worth of shares.
• According to analysts, StandardAero's stock currently holds a consensus rating of "Moderate Buy" with an average price target of around $34.67.

Thornburg Investment Management Inc. acquired a new stake in shares of StandardAero, Inc. (NYSE:SARO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 194,295 shares of the company's stock, valued at approximately $5,176,000. Thornburg Investment Management Inc. owned about 0.06% of StandardAero as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its position in StandardAero by 272.3% during the first quarter. GAMMA Investing LLC now owns 1,128 shares of the company's stock valued at $30,000 after purchasing an additional 825 shares during the period. Cerity Partners LLC raised its holdings in StandardAero by 1.3% during the 1st quarter. Cerity Partners LLC now owns 69,342 shares of the company's stock valued at $1,847,000 after buying an additional 863 shares during the period. Bessemer Group Inc. purchased a new stake in shares of StandardAero in the fourth quarter valued at $28,000. KBC Group NV bought a new stake in shares of StandardAero in the 1st quarter worth about $52,000. Finally, MetLife Investment Management LLC purchased a new position in shares of StandardAero during the 4th quarter worth about $54,000.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SARO. Wall Street Zen lowered shares of StandardAero from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. UBS Group raised their price target on StandardAero from $25.00 to $30.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Finally, CIBC dropped their price objective on StandardAero from $35.00 to $34.00 and set an "outperformer" rating for the company in a report on Tuesday, July 8th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $34.67.

Insider Activity

In other news, major shareholder Private Ltd Gic sold 5,524,862 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $27.30, for a total transaction of $150,828,732.60. Following the transaction, the insider directly owned 35,292,362 shares of the company's stock, valued at approximately $963,481,482.60. This represents a 13.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.90% of the stock is currently owned by insiders.

StandardAero Trading Down 2.3%

Shares of SARO traded down $0.66 during mid-day trading on Friday, hitting $27.89. The company's stock had a trading volume of 1,620,823 shares, compared to its average volume of 1,688,888. The company's 50-day moving average is $29.85 and its 200-day moving average is $27.91. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.00 and a quick ratio of 1.37. StandardAero, Inc. has a 52-week low of $21.31 and a 52-week high of $34.38.

StandardAero (NYSE:SARO - Get Free Report) last posted its 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 company had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.51 billion. The business's quarterly revenue was up 16.2% compared to the same quarter last year. As a group, analysts expect that StandardAero, Inc. will post 0.29 EPS for the current year.

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.