958,353 Shares in StandardAero, Inc. (NYSE:SARO) Bought by Geode Capital Management LLC

Geode Capital Management LLC bought a new position in StandardAero, Inc. (NYSE:SARO) during the 4th quarter, Holdings Channel reports. The fund bought 958,353 shares of the company’s stock, valued at approximately $23,737,000.

A number of other hedge funds also recently bought and sold shares of the company. R Squared Ltd bought a new position in StandardAero in the 4th quarter worth approximately $39,000. Jennison Associates LLC bought a new position in StandardAero during the fourth quarter worth $23,063,000. Renaissance Capital LLC acquired a new position in StandardAero during the 4th quarter valued at $3,992,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in StandardAero in the 4th quarter valued at $486,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in StandardAero in the 4th quarter worth $224,000.

Insider Buying and Selling at StandardAero

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 shares were sold at an average price of $27.16, for a total value of $180,066,291.44. Following the transaction, the insider now directly owns 40,817,224 shares in the company, valued at $1,108,595,803.84. The trade was a 13.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analyst Weigh In

SARO has been the subject of several recent research reports. Morgan Stanley cut their price target on StandardAero from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. UBS Group lifted their price objective on StandardAero from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, March 11th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.89.

StandardAero Price Performance

NYSE SARO opened at $25.44 on Friday. StandardAero, Inc. has a 12 month low of $21.31 and a 12 month high of $34.38. The stock has a 50 day moving average of $26.71 and a 200-day moving average of $27.36.

StandardAero (NYSE:SARO) last released its quarterly earnings data on Monday, March 10th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.20). The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.37 billion. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, equities analysts expect that StandardAero, Inc. will post 0.29 earnings per share 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.