Loomis Sayles & Co. L P Acquires New Position in StandardAero, Inc. (NYSE:SARO)

Loomis Sayles & Co. L P acquired a new position in StandardAero, Inc. (NYSE:SARO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 522,221 shares of the company's stock, valued at approximately $12,931,000. Loomis Sayles & Co. L P owned approximately 0.16% of StandardAero at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several analysts recently commented on SARO shares. Morgan Stanley cut 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 report on Friday, March 14th. UBS Group increased their price target on shares of StandardAero from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Tuesday, March 11th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $34.89.

Remove Ads

StandardAero Trading Up 1.7 %

NYSE:SARO traded up $0.44 during trading hours on Wednesday, reaching $27.25. The company had a trading volume of 1,270,397 shares, compared to its average volume of 2,057,971. The company's 50 day simple moving average is $27.34. StandardAero, Inc. has a 52 week low of $22.50 and a 52 week high of $34.38.

StandardAero (NYSE:SARO - Get Free Report) last released its quarterly 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 firm had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.37 billion. The company's quarterly revenue was up 21.8% compared to the same quarter last year. Research analysts forecast that StandardAero, Inc. will post 0.29 earnings per share for the current year.

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 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 in the company, valued at $1,108,595,803.84. This trade represents a 13.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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.