Treasurer of the State of North Carolina Makes New Investment in StandardAero, Inc. (NYSE:SARO)

Treasurer of the State of North Carolina purchased a new position in shares of StandardAero, Inc. (NYSE:SARO) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 30,400 shares of the company’s stock, valued at approximately $753,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bessemer Group Inc. acquired a new position in shares of StandardAero in the 4th quarter valued at $28,000. 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 StandardAero in the 4th quarter worth approximately $62,000. Amalgamated Bank purchased a new position in StandardAero during the 4th quarter worth approximately $98,000. Finally, Daiwa Securities Group Inc. acquired a new stake in StandardAero during the 4th quarter valued at approximately $107,000.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SARO. UBS Group boosted their target price on shares of 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 target 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. 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.89.

StandardAero Stock Performance

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

StandardAero (NYSE:SARO) last posted its quarterly earnings data 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. StandardAero’s quarterly revenue was up 21.8% compared to the same quarter last year. As a group, equities analysts forecast that StandardAero, Inc. will post 0.29 EPS for the current fiscal year.

Insider Transactions at StandardAero

In other 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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.