Massachusetts Financial Services Co. MA Makes New $102.89 Million Investment in StandardAero, Inc. (NYSE:SARO)

Massachusetts Financial Services Co. MA bought a new stake in StandardAero, Inc. (NYSE:SARO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,155,655 shares of the company’s stock, valued at approximately $102,894,000. Massachusetts Financial Services Co. MA owned about 1.24% of StandardAero at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SARO. Geode Capital Management LLC bought a new position in shares of StandardAero in the 4th quarter worth $23,737,000. Franklin Resources Inc. acquired a new position in shares of StandardAero during the 4th quarter worth about $45,915,000. Alliancebernstein L.P. bought a new stake in shares of StandardAero in the 4th quarter valued at about $75,447,000. Wellington Management Group LLP acquired a new stake in shares of StandardAero in the 4th quarter valued at approximately $183,924,000. Finally, Norges Bank acquired a new stake in shares of StandardAero in the 4th quarter valued at approximately $124,422,000.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. UBS Group boosted their price objective on shares of StandardAero from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, March 11th. Morgan Stanley decreased their price target on shares of 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.89.

Insider Buying and Selling at StandardAero

In other news, major shareholder Private Ltd Gic sold 6,629,834 shares of StandardAero 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 sale, the insider now directly owns 40,817,224 shares in the company, valued at $1,108,595,803.84. This trade 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 the SEC website.

StandardAero Trading Down 9.6 %

Shares of NYSE:SARO opened at $23.14 on Friday. StandardAero, Inc. has a 12 month low of $22.50 and a 12 month high of $34.38. The stock’s fifty day moving average is $27.30.

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

StandardAero Company 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.