Norges Bank Takes Position in StandardAero, Inc. (NYSE:SARO)

Norges Bank acquired a new stake in shares of StandardAero, Inc. (NYSE:SARO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,025,103 shares of the company's stock, valued at approximately $124,422,000. Norges Bank owned about 1.50% of StandardAero at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SARO. R Squared Ltd acquired a new stake in StandardAero during the 4th quarter worth approximately $39,000. PNC Financial Services Group Inc. purchased a new position in StandardAero in the 4th quarter worth approximately $62,000. Amalgamated Bank acquired a new position in shares of StandardAero during the fourth quarter worth $98,000. Daiwa Securities Group Inc. acquired a new position in StandardAero in the 4th quarter worth $107,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in StandardAero in the 4th quarter valued at about $224,000.

Insider Transactions at StandardAero

In other news, major shareholder Private Ltd Gic sold 6,629,834 shares of the stock in a transaction dated 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 directly owns 40,817,224 shares of the company's stock, valued at $1,108,595,803.84. This represents a 13.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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Analyst Ratings Changes

Several equities research analysts have issued reports on the company. 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. UBS Group boosted 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. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, StandardAero presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.89.

StandardAero Stock Up 1.5 %

SARO stock traded up $0.41 during midday trading on Wednesday, reaching $27.22. The stock had a trading volume of 4,592,687 shares, compared to its average volume of 2,084,090. StandardAero, Inc. has a twelve month low of $22.50 and a twelve month high of $34.38. The business's fifty day moving average price is $27.39.

StandardAero (NYSE:SARO - Get Free Report) last issued its quarterly earnings data on Monday, March 10th. The company reported ($0.04) earnings per share (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 analysts' expectations of $1.37 billion. The firm's revenue was up 21.8% on a year-over-year basis. Sell-side analysts predict that StandardAero, Inc. will post 0.29 earnings per share 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.