Soros Fund Management LLC Takes Position in StandardAero, Inc. (NYSE:SARO)

Soros Fund Management LLC purchased a new position in StandardAero, Inc. (NYSE:SARO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,232,825 shares of the company's stock, valued at approximately $30,525,000. Soros Fund Management LLC owned about 0.37% of StandardAero as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the stock. Bessemer Group Inc. bought a new position in shares of StandardAero during the 4th quarter worth $28,000. R Squared Ltd purchased a new stake in StandardAero during the fourth quarter valued at about $39,000. MetLife Investment Management LLC bought a new position in StandardAero during the fourth quarter worth about $54,000. PNC Financial Services Group Inc. purchased a new position in shares of StandardAero in the fourth quarter worth about $62,000. Finally, Sterling Capital Management LLC bought a new stake in shares of StandardAero in the fourth quarter valued at approximately $78,000.

Insider Activity at StandardAero

In other StandardAero news, major shareholder Private Ltd Gic sold 6,629,834 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 40,817,224 shares in the company, valued at $1,108,595,803.84. This trade represents a 13.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SARO. UBS Group lifted their price objective on shares of StandardAero from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday, March 11th. Morgan Stanley decreased their price objective on StandardAero from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Friday, March 14th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, StandardAero has a consensus rating of "Moderate Buy" and an average price target of $34.89.

StandardAero Stock Performance

Shares of NYSE:SARO traded up $0.11 on Thursday, hitting $27.13. The company's stock had a trading volume of 1,434,384 shares, compared to its average volume of 2,181,667. The company has a 50-day simple moving average of $26.58 and a 200 day simple moving average of $27.02. 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 released its quarterly earnings results on Monday, March 10th. The company reported ($0.04) EPS 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 analyst estimates of $1.37 billion. StandardAero's revenue was up 21.8% on a year-over-year basis. As a group, equities analysts predict that StandardAero, Inc. will post 0.29 EPS for the current fiscal year.

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.