Wells Fargo & Company MN Makes New Investment in StandardAero, Inc. (NYSE:SARO)

Wells Fargo & Company MN bought a new position in StandardAero, Inc. (NYSE:SARO - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 32,915 shares of the company's stock, valued at approximately $815,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in StandardAero during the fourth quarter valued at approximately $183,924,000. Vanguard Group Inc. purchased a new stake in StandardAero in the fourth quarter worth about $147,628,000. Norges Bank purchased a new stake in StandardAero in the fourth quarter worth $124,422,000. Massachusetts Financial Services Co. MA purchased a new position in StandardAero during the fourth quarter valued at $102,894,000. Finally, Alliancebernstein L.P. purchased a new stake in StandardAero in the fourth quarter worth about $75,447,000.

Insider Activity at StandardAero

In other news, major shareholder Private Ltd Gic sold 6,629,834 shares of the business's 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 completion of the sale, the insider now owns 40,817,224 shares in the company, valued at approximately $1,108,595,803.84. The trade was a 13.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

StandardAero Stock Up 2.7 %

Shares of SARO stock traded up $0.74 on Friday, reaching $27.85. 943,762 shares of the company were exchanged, compared to its average volume of 2,173,189. The business has a 50-day moving average price of $26.60 and a 200 day moving average price of $26.99. 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 issued 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 during the quarter, compared to the consensus estimate of $1.37 billion. The firm's revenue for the quarter was up 21.8% compared to the same quarter last year. Equities analysts forecast that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. UBS Group lifted 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. Morgan Stanley lowered their price target on shares of StandardAero from $33.00 to $32.00 and set an "equal weight" rating on the stock in a report 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $34.89.

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.