Treasurer of the State of North Carolina Takes Position in StandardAero, Inc. (NYSE:SARO)

Treasurer of the State of North Carolina acquired a new position in shares of StandardAero, Inc. (NYSE:SARO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 30,400 shares of the company's stock, valued at approximately $753,000.

A number of other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in StandardAero during the 4th quarter valued at $486,000. Renaissance Capital LLC purchased a new stake in StandardAero during the 4th quarter worth about $3,992,000. Jennison Associates LLC acquired a new position in StandardAero in the 4th quarter valued at about $23,063,000. JPMorgan Chase & Co. acquired a new stake in shares of StandardAero during the 4th quarter worth about $5,226,000. Finally, Harbor Advisors LLC purchased a new stake in shares of StandardAero during the fourth quarter worth about $622,000.

Insider Activity

In other StandardAero news, major shareholder Private Ltd Gic sold 6,629,834 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 40,817,224 shares in the company, valued at $1,108,595,803.84. This represents a 13.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

StandardAero Price Performance

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

StandardAero (NYSE:SARO - Get Free Report) last announced its quarterly earnings results on Monday, March 10th. The company reported ($0.04) earnings per share (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. StandardAero's quarterly revenue was up 21.8% compared to the same quarter last year. On average, analysts expect that StandardAero, Inc. will post 0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. UBS Group raised their target price on shares of StandardAero from $27.00 to $28.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 11th. Morgan Stanley dropped their target price on StandardAero from $33.00 to $32.00 and set an "equal weight" rating for the company 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 given a strong buy rating to the company's stock. According to data from MarketBeat, StandardAero presently has an average rating of "Moderate Buy" and an average 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.