Geode Capital Management LLC Invests $23.74 Million in StandardAero, Inc. (NYSE:SARO)

Geode Capital Management LLC acquired a new stake in shares of StandardAero, Inc. (NYSE:SARO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 958,353 shares of the company's stock, valued at approximately $23,737,000. Geode Capital Management LLC owned 0.29% of StandardAero as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Franklin Resources Inc. purchased a new position in StandardAero in the fourth quarter worth about $45,915,000. Alliancebernstein L.P. bought a new position in StandardAero in the fourth quarter worth approximately $75,447,000. Wellington Management Group LLP purchased a new position in shares of StandardAero during the 4th quarter worth $183,924,000. Norges Bank bought a new stake in shares of StandardAero during the 4th quarter valued at $124,422,000. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of StandardAero in the 4th quarter worth $12,931,000.

StandardAero Stock Up 2.7 %

NYSE SARO traded up $0.66 during trading hours on Tuesday, reaching $24.88. The company's stock had a trading volume of 1,288,084 shares, compared to its average volume of 2,215,756. StandardAero, Inc. has a 1 year low of $21.31 and a 1 year high of $34.38. The firm's 50-day moving average price is $26.64 and its 200-day moving average price is $27.27.

StandardAero (NYSE:SARO - Get Free Report) last posted its earnings results on Monday, March 10th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.20). The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.37 billion. StandardAero's revenue was up 21.8% compared to the same quarter last year. Research analysts predict that StandardAero, Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

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

Analyst Ratings Changes

Several analysts have issued reports on the company. UBS Group boosted their price target on StandardAero from $27.00 to $28.00 and gave the company a "neutral" rating in a report 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 given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.