Price T Rowe Associates Inc. MD Invests $155.83 Million in StandardAero, Inc. (NYSE:SARO)

Price T Rowe Associates Inc. MD acquired a new position in StandardAero, Inc. (NYSE:SARO - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,293,526 shares of the company's stock, valued at approximately $155,829,000. Price T Rowe Associates Inc. MD owned approximately 1.88% of StandardAero at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SARO. Wellington Management Group LLP bought a new position in StandardAero in the fourth quarter worth about $183,924,000. Carlyle Group Inc. purchased a new stake in shares of StandardAero during the fourth quarter valued at $165,294,000. Vanguard Group Inc. acquired a new stake in StandardAero during the 4th quarter worth about $147,628,000. Norges Bank purchased a new stake in shares of StandardAero in the 4th quarter valued at approximately $124,422,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of StandardAero in the fourth quarter worth $102,894,000.

Wall Street Analyst Weigh In

SARO has been the subject of a number of research reports. UBS Group lifted their price objective on StandardAero from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Tuesday, March 11th. Morgan Stanley dropped their price objective on StandardAero from $33.00 to $32.00 and set an "equal weight" rating on the stock in a report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, StandardAero presently has an average rating of "Moderate Buy" and a consensus price target of $34.89.

StandardAero Price Performance

StandardAero stock traded up $0.71 during mid-day trading on Friday, reaching $27.82. The company had a trading volume of 216,273 shares, compared to its average volume of 2,168,287. The company has a 50 day moving average of $26.58 and a 200-day moving average of $27.02. 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 quarterly earnings results on Monday, March 10th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.20). The business had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.37 billion. The business's quarterly revenue was up 21.8% on a year-over-year basis. Analysts expect that StandardAero, Inc. will post 0.29 EPS for the current year.

Insider Transactions at StandardAero

In related news, major shareholder Private Ltd Gic sold 6,629,834 shares of StandardAero stock in a transaction dated 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 transaction, the insider now directly owns 40,817,224 shares of the company's stock, valued at $1,108,595,803.84. This trade represents a 13.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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.