Wellington Management Group LLP Takes Position in StandardAero, Inc. (NYSE:SARO)

Wellington Management Group LLP acquired a new position in StandardAero, Inc. (NYSE:SARO) in the 4th quarter, according to its most recent filing with the Securities & 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 2.22% of StandardAero as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SARO. Vanguard Group Inc. acquired a new stake in shares of StandardAero during the 4th quarter worth about $147,628,000. Norges Bank acquired a new stake in shares of StandardAero during the fourth quarter valued at about $124,422,000. Burkehill Global Management LP purchased a new stake in shares of StandardAero in the 4th quarter valued at approximately $24,760,000. Jennison Associates LLC acquired a new position in shares of StandardAero in the 4th quarter worth approximately $23,063,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of StandardAero during the 4th quarter worth approximately $18,691,000.

Wall Street Analysts Forecast Growth

SARO has been the topic of a number of research reports. UBS Group upped their price target on StandardAero from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 11th. Morgan Stanley lowered their target price on StandardAero from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.89.

StandardAero Stock Performance

SARO stock opened at $27.22 on Thursday. StandardAero, Inc. has a fifty-two week low of $22.50 and a fifty-two week high of $34.38. The stock’s 50 day moving average price is $27.39.

StandardAero (NYSE:SARO) last announced its quarterly earnings data 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 firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.37 billion. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. Analysts anticipate that StandardAero, Inc. will post 0.29 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Private Ltd Gic sold 6,629,834 shares of the business’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 transaction of $180,066,291.44. Following the completion of the sale, the insider now 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 through the SEC website.

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.