Price T Rowe Associates Inc. MD Takes Position in StandardAero, Inc. (NYSE:SARO)

Price T Rowe Associates Inc. MD purchased a new position in shares of StandardAero, Inc. (NYSE:SARO - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 6,293,526 shares of the company's stock, valued at approximately $155,829,000. Price T Rowe Associates Inc. MD owned approximately 1.88% of StandardAero at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. bought a new stake in StandardAero in the fourth quarter worth approximately $28,000. R Squared Ltd acquired a new position in StandardAero during the fourth quarter worth $39,000. MetLife Investment Management LLC acquired a new stake in shares of StandardAero in the fourth quarter worth about $54,000. PNC Financial Services Group Inc. bought a new stake in shares of StandardAero during the 4th quarter worth about $62,000. Finally, Sterling Capital Management LLC bought a new position in shares of StandardAero in the 4th quarter valued at approximately $78,000.

StandardAero Trading Up 0.4 %

StandardAero stock traded up $0.11 during trading hours on Tuesday, hitting $26.89. The stock had a trading volume of 3,228,133 shares, compared to its average volume of 2,194,349. StandardAero, Inc. has a fifty-two week low of $21.31 and a fifty-two week high of $34.38. The company has a 50-day moving average of $26.55 and a two-hundred day moving average of $27.05.

StandardAero (NYSE:SARO - Get Free Report) last posted its quarterly earnings results on Monday, March 10th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.20). The business had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.37 billion. The business's quarterly revenue was up 21.8% on a year-over-year basis. As a group, equities analysts forecast that StandardAero, Inc. will post 0.29 EPS for the current year.

Insider Buying and Selling

In other StandardAero news, major shareholder Private Ltd Gic sold 6,629,834 shares of the company's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $27.16, for a total value of $180,066,291.44. Following the sale, the insider now directly owns 40,817,224 shares in the company, valued at $1,108,595,803.84. This represents a 13.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SARO shares. Morgan Stanley decreased their target price on StandardAero from $33.00 to $32.00 and set an "equal weight" rating for the company in a research report on Friday, March 14th. UBS Group lifted their target price on shares of StandardAero from $27.00 to $28.00 and gave the stock a "neutral" rating in a report on Tuesday, March 11th. Three research 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.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.