Massachusetts Financial Services Co. MA Acquires Shares of 4,155,655 StandardAero, Inc. (NYSE:SARO)

Massachusetts Financial Services Co. MA acquired a new stake in StandardAero, Inc. (NYSE:SARO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,155,655 shares of the company's stock, valued at approximately $102,894,000. Massachusetts Financial Services Co. MA owned approximately 1.24% of StandardAero at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. R Squared Ltd purchased a new stake in shares of StandardAero during the fourth quarter worth $39,000. PNC Financial Services Group Inc. acquired a new stake in StandardAero in the 4th quarter valued at about $62,000. Amalgamated Bank acquired a new stake in StandardAero in the 4th quarter valued at about $98,000. Daiwa Securities Group Inc. purchased a new position in StandardAero in the 4th quarter worth approximately $107,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of StandardAero in the fourth quarter valued at approximately $224,000.

StandardAero Stock Down 4.0 %

SARO stock traded down $1.02 during midday trading on Thursday, hitting $24.26. The company's stock had a trading volume of 958,742 shares, compared to its average volume of 2,209,891. StandardAero, Inc. has a 52-week low of $21.31 and a 52-week high of $34.38. The firm has a 50-day moving average of $27.01.

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

Insider Activity at StandardAero

In other news, major shareholder Private Ltd Gic sold 6,629,834 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 40,817,224 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

Several brokerages have recently weighed in on SARO. Morgan Stanley lowered their price target 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 objective on StandardAero from $27.00 to $28.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 11th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, StandardAero has an average rating of "Moderate Buy" and a consensus price target of $34.89.

StandardAero 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.