Geode Capital Management LLC Purchases New Position in StandardAero, Inc. (NYSE:SARO)

Geode Capital Management LLC purchased a new position in StandardAero, Inc. (NYSE:SARO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 958,353 shares of the company's stock, valued at approximately $23,737,000. Geode Capital Management LLC owned approximately 0.29% of StandardAero at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. R Squared Ltd bought a new stake in shares of StandardAero in the fourth quarter valued at about $39,000. Jennison Associates LLC acquired a new stake in StandardAero in the 4th quarter valued at approximately $23,063,000. Renaissance Capital LLC bought a new stake in StandardAero in the 4th quarter valued at approximately $3,992,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in StandardAero during the 4th quarter worth approximately $486,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in StandardAero during the fourth quarter worth $224,000.

StandardAero Trading Up 2.3 %

NYSE:SARO traded up $0.60 during trading hours on Thursday, reaching $26.15. 109,066 shares of the company were exchanged, compared to its average volume of 2,198,118. The business has a 50 day moving average of $26.58 and a 200 day moving average of $27.24. StandardAero, Inc. has a 1-year low of $21.31 and a 1-year high of $34.38.

StandardAero (NYSE:SARO - Get Free Report) last posted its quarterly earnings data on Monday, March 10th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.20). The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.37 billion. StandardAero's revenue was up 21.8% on a year-over-year basis. On average, research analysts anticipate that StandardAero, Inc. will post 0.29 EPS for the current fiscal year.

Insider Activity at StandardAero

In other StandardAero news, major shareholder Private Ltd Gic sold 6,629,834 shares of the company's stock in a transaction on Thursday, March 27th. The stock was 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 represents a 13.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SARO. Morgan Stanley decreased their price objective on shares of StandardAero from $33.00 to $32.00 and set an "equal weight" rating for the company in a research report on Friday, March 14th. UBS Group boosted their price objective on StandardAero from $27.00 to $28.00 and gave the stock a "neutral" rating in a report on Tuesday, March 11th. Three 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $34.89.

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.