3,047,125 Shares in StandardAero, Inc. (NYSE:SARO) Bought by Alliancebernstein L.P.

Alliancebernstein L.P. purchased a new position in shares of StandardAero, Inc. (NYSE:SARO - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,047,125 shares of the company's stock, valued at approximately $75,447,000. Alliancebernstein L.P. owned 0.91% of StandardAero at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SARO. R Squared Ltd acquired a new stake in StandardAero in the fourth quarter worth $39,000. PNC Financial Services Group Inc. acquired a new stake in shares of StandardAero in the 4th quarter worth about $62,000. Amalgamated Bank bought a new stake in StandardAero in the 4th quarter valued at about $98,000. Daiwa Securities Group Inc. acquired a new position in StandardAero during the 4th quarter valued at about $107,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new position in StandardAero in the 4th quarter worth about $224,000.

Insider Activity at StandardAero

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

StandardAero Price Performance

Shares of NYSE SARO traded up $0.64 during mid-day trading on Tuesday, reaching $23.20. The company had a trading volume of 976,180 shares, compared to its average volume of 2,312,860. The business has a fifty day simple moving average of $27.23. 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 released its earnings results 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 business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.37 billion. StandardAero's quarterly revenue was up 21.8% on a year-over-year basis. On average, analysts predict that StandardAero, Inc. will post 0.29 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on SARO. Morgan Stanley lowered their price objective 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. UBS Group lifted their price target on StandardAero from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 11th. Three 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.89.

About StandardAero

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.