Westpac Banking Corp Purchases New Holdings in StandardAero, Inc. (NYSE:SARO)

Westpac Banking Corp acquired a new position in StandardAero, Inc. (NYSE:SARO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,249 shares of the company’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SARO. R Squared Ltd bought a new stake in shares of StandardAero in the 4th quarter worth approximately $39,000. PNC Financial Services Group Inc. bought a new stake in StandardAero in the fourth quarter worth $62,000. Amalgamated Bank purchased a new stake in shares of StandardAero in the fourth quarter worth $98,000. Daiwa Securities Group Inc. purchased a new stake in shares of StandardAero in the fourth quarter worth $107,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new position in shares of StandardAero during the fourth quarter valued at $224,000.

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 on 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 trade represents a 13.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SARO shares. UBS Group upped their price target 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 dropped their target price on shares of StandardAero from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Friday, March 14th. Three equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.89.

StandardAero Stock Performance

Shares of StandardAero stock opened at $23.14 on Friday. StandardAero, Inc. has a twelve month low of $22.50 and a twelve month high of $34.38. The firm’s 50 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 analysts’ consensus estimates of $0.16 by ($0.20). The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.37 billion. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, research analysts anticipate that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

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.