Blackstone Inc. Makes New $8.91 Million Investment in StandardAero, Inc. (NYSE:SARO)

Blackstone Inc. bought a new stake in shares of StandardAero, Inc. (NYSE:SARO) during the fourth quarter, HoldingsChannel.com reports. The fund bought 360,000 shares of the company’s stock, valued at approximately $8,914,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SARO. Bessemer Group Inc. bought a new position in StandardAero in the 4th quarter valued at $28,000. R Squared Ltd purchased a new stake in shares of StandardAero during the fourth quarter valued at $39,000. MetLife Investment Management LLC bought a new position in shares of StandardAero in the fourth quarter worth about $54,000. PNC Financial Services Group Inc. purchased a new position in StandardAero in the 4th quarter worth about $62,000. Finally, Sterling Capital Management LLC bought a new stake in StandardAero during the 4th quarter valued at about $78,000.

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 dated Thursday, March 27th. The shares were sold at an average price of $27.16, for a total transaction of $180,066,291.44. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Wall Street Analyst Weigh In

A number of brokerages have commented on SARO. UBS Group upped their target price on shares of StandardAero from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note 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 report on Friday, March 14th. Three 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. According to MarketBeat.com, StandardAero currently has an average rating of “Moderate Buy” and an average price target of $34.89.

StandardAero Price Performance

SARO opened at $27.63 on Tuesday. StandardAero, Inc. has a 12 month low of $21.31 and a 12 month high of $34.38. The stock has a fifty day moving average price of $26.61 and a 200-day moving average price of $26.89.

StandardAero (NYSE:SARO) last issued its quarterly earnings data on Monday, March 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.20). The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.37 billion. The company’s quarterly revenue was up 21.8% on a year-over-year basis. Analysts expect that StandardAero, Inc. will post 0.29 earnings per share for the current year.

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.