Loomis Sayles & Co. L P Buys Shares of 522,221 StandardAero, Inc. (NYSE:SARO)

Loomis Sayles & Co. L P purchased a new stake in StandardAero, Inc. (NYSE:SARO) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 522,221 shares of the company’s stock, valued at approximately $12,931,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in StandardAero during the 4th quarter worth approximately $486,000. Renaissance Capital LLC bought a new position in shares of StandardAero in the fourth quarter worth $3,992,000. Jennison Associates LLC purchased a new stake in shares of StandardAero in the fourth quarter worth $23,063,000. Legato Capital Management LLC bought a new stake in StandardAero during the fourth quarter valued at $335,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in StandardAero during the fourth quarter worth about $224,000.

Wall Street Analysts Forecast Growth

SARO has been the topic of several recent analyst reports. Morgan Stanley lowered their price target on StandardAero from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Friday, March 14th. UBS Group raised their target price on shares of StandardAero from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, March 11th. Three research 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’s stock. According to data from MarketBeat, StandardAero currently has an average rating of “Moderate Buy” and an average target price of $34.89.

Insider Activity

In other news, major shareholder Private Ltd Gic sold 6,629,834 shares of the firm’s stock in a transaction that occurred 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 owns 40,817,224 shares in the company, valued at approximately $1,108,595,803.84. This trade represents a 13.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

StandardAero Trading Down 3.1 %

SARO stock opened at $27.18 on Friday. StandardAero, Inc. has a one year low of $22.50 and a one year high of $34.38. The business’s 50 day simple moving average is $27.26.

StandardAero (NYSE:SARO) last issued its earnings results on Monday, March 10th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.20). The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.37 billion. The business’s revenue was up 21.8% on a year-over-year basis. On average, analysts anticipate that StandardAero, Inc. will post 0.29 EPS 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.