Wellington Management Group LLP Acquires Shares of 7,428,291 StandardAero, Inc. (NYSE:SARO)

Wellington Management Group LLP acquired a new stake in shares of StandardAero, Inc. (NYSE:SARO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,428,291 shares of the company's stock, valued at approximately $183,924,000. Wellington Management Group LLP owned about 2.22% of StandardAero at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, major shareholder Private Ltd Gic sold 6,629,834 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $1,108,595,803.84. This represents a 13.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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Analysts Set New Price Targets

A number of research firms have issued reports on SARO. UBS Group boosted their price target on StandardAero from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Tuesday, March 11th. Morgan Stanley reduced their price objective on 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 research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $34.89.

StandardAero Stock Performance

Shares of SARO stock traded down $0.61 during trading hours on Monday, reaching $22.52. The company had a trading volume of 5,363,592 shares, compared to its average volume of 2,180,945. StandardAero, Inc. has a twelve month low of $21.31 and a twelve month high of $34.38. The company's fifty day simple moving average is $27.23.

StandardAero (NYSE:SARO - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $1.37 billion. StandardAero's revenue was up 21.8% on a year-over-year basis. On average, equities research analysts predict that StandardAero, Inc. will post 0.29 EPS for the current year.

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.