Norges Bank Invests $124.42 Million in StandardAero, Inc. (NYSE:SARO)

Norges Bank purchased a new stake in StandardAero, Inc. (NYSE:SARO - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,025,103 shares of the company's stock, valued at approximately $124,422,000. Norges Bank owned 1.50% of StandardAero at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SARO shares. UBS Group raised their price target 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 target price on shares of 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 investment 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $34.89.

StandardAero Stock Performance

NYSE:SARO traded down $2.46 on Friday, reaching $23.14. 8,416,030 shares of the stock traded hands, compared to its average volume of 2,155,884. The firm has a 50 day moving average of $27.30. StandardAero, Inc. has a 1-year low of $22.50 and a 1-year high of $34.38.

StandardAero (NYSE:SARO - Get Free Report) last issued 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. The company's revenue was up 21.8% on a year-over-year basis. Research analysts predict that StandardAero, Inc. will post 0.29 EPS for the current year.

Insiders Place Their Bets

In other StandardAero news, major shareholder Private Ltd Gic sold 6,629,834 shares of the firm'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 completion of the sale, the insider now directly owns 40,817,224 shares in the company, valued at approximately $1,108,595,803.84. This trade 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 this hyperlink.

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.