Bank of New York Mellon Corp Purchases New Position in StandardAero, Inc. (NYSE:SARO)

Bank of New York Mellon Corp bought a new position in StandardAero, Inc. (NYSE:SARO - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 160,577 shares of the company's stock, valued at approximately $3,976,000.

Several other hedge funds have also made changes to their positions in the company. R Squared Ltd purchased a new stake in shares of StandardAero during the 4th quarter worth $39,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of StandardAero during the 4th quarter worth $224,000. Legato Capital Management LLC purchased a new stake in shares of StandardAero during the 4th quarter worth $335,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of StandardAero during the 4th quarter worth $486,000. Finally, Rhumbline Advisers purchased a new stake in shares of StandardAero during the 4th quarter worth $1,245,000.

StandardAero Stock Performance

Shares of SARO stock traded down $0.45 during mid-day trading on Friday, reaching $28.68. The stock had a trading volume of 6,668,169 shares, compared to its average volume of 1,715,108. The business has a fifty day moving average of $26.83. 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 announced its quarterly earnings data on Monday, March 10th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.20). The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.37 billion. The company's revenue for the quarter was up 21.8% compared to the same quarter last year. Sell-side analysts forecast that StandardAero, Inc. will post 0.29 earnings per share for the current year.

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Wall Street Analyst Weigh In

A number of research firms have commented on SARO. Morgan Stanley decreased their price target on StandardAero from $33.00 to $32.00 and set an "equal weight" rating for the company in a research note on Friday, March 14th. Bank of America decreased their price target on StandardAero from $34.00 to $32.00 and set a "neutral" rating for the company in a research note on Wednesday, November 27th. Finally, UBS Group increased their price target on StandardAero from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday, March 11th. Three investment 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 a consensus rating of "Moderate Buy" and a consensus 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.