Burkehill Global Management LP Takes Position in StandardAero, Inc. (NYSE:SARO)

Burkehill Global Management LP bought a new position in shares of StandardAero, Inc. (NYSE:SARO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,000,000 shares of the company's stock, valued at approximately $24,760,000. StandardAero comprises about 2.4% of Burkehill Global Management LP's holdings, making the stock its 10th largest position. Burkehill Global Management LP owned 0.30% of StandardAero at the end of the most recent reporting period.

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

StandardAero Trading Down 1.3 %

Shares of SARO traded down $0.39 during trading hours on Friday, reaching $28.60. 1,781,966 shares of the company's stock traded hands, compared to its average volume of 1,696,814. StandardAero, Inc. has a 12 month low of $22.50 and a 12 month high of $34.38. The firm's 50 day simple moving average is $26.27.

StandardAero (NYSE:SARO - Get Free Report) last posted 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 firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.37 billion. The firm's quarterly revenue was up 21.8% compared to the same quarter last year. As a group, analysts predict that StandardAero, Inc. will post 0.29 earnings per share for the current year.

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Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SARO. Bank of America decreased their target price on StandardAero from $34.00 to $32.00 and set a "neutral" rating for the company in a research report on Wednesday, November 27th. UBS Group upped their target price on StandardAero from $27.00 to $28.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 11th. Finally, Morgan Stanley reduced their price target on shares of StandardAero from $33.00 to $32.00 and set an "equal weight" rating for the company in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.