Treasurer of the State of North Carolina Acquires Shares of 30,400 StandardAero, Inc. (NYSE:SARO)

Treasurer of the State of North Carolina acquired a new position in shares of StandardAero, Inc. (NYSE:SARO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,400 shares of the company's stock, valued at approximately $753,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bessemer Group Inc. acquired a new stake in StandardAero in the fourth quarter valued at $28,000. R Squared Ltd acquired a new stake in shares of StandardAero in the fourth quarter valued at about $39,000. PNC Financial Services Group Inc. acquired a new position in shares of StandardAero in the fourth quarter worth approximately $62,000. Amalgamated Bank bought a new stake in StandardAero in the fourth quarter valued at approximately $98,000. Finally, Daiwa Securities Group Inc. acquired a new stake in StandardAero during the 4th quarter valued at approximately $107,000.

StandardAero Stock Up 2.3 %

Shares of SARO stock traded up $0.60 on Thursday, hitting $26.15. 129,640 shares of the stock were exchanged, compared to its average volume of 2,198,274. StandardAero, Inc. has a one year low of $21.31 and a one year high of $34.38. The firm's 50 day moving average is $26.58 and its two-hundred day moving average is $27.24.

StandardAero (NYSE:SARO - Get Free Report) last announced 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 company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.37 billion. The business's revenue was up 21.8% compared to the same quarter last year. As a group, equities research analysts predict that StandardAero, Inc. will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Private Ltd Gic sold 6,629,834 shares of the company'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 of the company's stock, valued at approximately $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 SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

Several research firms have recently weighed in 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 raised their price objective on shares of StandardAero from $27.00 to $28.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 11th. 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 stock. According to MarketBeat.com, the stock presently has a consensus 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.