T. Rowe Price Investment Management Inc. Acquires Shares of 6,515,508 StandardAero, Inc. (NYSE:SARO)

T. Rowe Price Investment Management Inc. acquired a new position in StandardAero, Inc. (NYSE:SARO - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,515,508 shares of the company's stock, valued at approximately $161,324,000. T. Rowe Price Investment Management Inc. owned 1.95% of StandardAero as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

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

StandardAero Trading Down 1.2 %

SARO traded down $0.33 on Wednesday, hitting $26.60. 201,142 shares of the stock were exchanged, compared to its average volume of 2,180,587. The business has a 50-day moving average of $26.55 and a two-hundred day moving average of $27.05. StandardAero, Inc. has a 12 month low of $21.31 and a 12 month high of $34.38.

StandardAero (NYSE:SARO - Get Free Report) last issued its quarterly earnings data on Monday, March 10th. The company reported ($0.04) EPS 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. The firm's quarterly revenue was up 21.8% on a year-over-year basis. Analysts predict that StandardAero, Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at StandardAero

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

StandardAero 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.