Franklin Resources Inc. Invests $45.92 Million in StandardAero, Inc. (NYSE:SARO)

Franklin Resources Inc. purchased a new position in StandardAero, Inc. (NYSE:SARO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,854,383 shares of the company's stock, valued at approximately $45,915,000. Franklin Resources Inc. owned about 0.55% of StandardAero at the end of the most recent quarter.

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

StandardAero Trading Down 3.7 %

SARO stock traded down $0.93 during midday trading on Thursday, hitting $24.35. 691,428 shares of the company's stock were exchanged, compared to its average volume of 2,207,677. The stock's fifty day moving average is $27.01. StandardAero, Inc. has a one year low of $21.31 and a one year high of $34.38.

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 business's quarterly revenue was up 21.8% compared to the same quarter last year. On average, analysts forecast that StandardAero, Inc. will post 0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented 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 stock a "neutral" rating in a research note on Tuesday, March 11th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $34.89.

Insider Buying and Selling at StandardAero

In other news, major shareholder Private Ltd Gic sold 6,629,834 shares of StandardAero stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $27.16, for a total transaction of $180,066,291.44. Following the completion of the transaction, the insider now directly owns 40,817,224 shares in the company, valued at approximately $1,108,595,803.84. The trade was a 13.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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.