1,854,383 Shares in StandardAero, Inc. (NYSE:SARO) Bought by Franklin Resources Inc.

Franklin Resources Inc. purchased a new stake in StandardAero, Inc. (NYSE:SARO) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,854,383 shares of the company’s stock, valued at approximately $45,915,000.

Several other large investors have also recently made changes to their positions in SARO. R Squared Ltd purchased a new position in StandardAero during the fourth quarter worth approximately $39,000. Jennison Associates LLC acquired a new stake in StandardAero during the 4th quarter worth $23,063,000. Renaissance Capital LLC purchased a new stake in StandardAero during the 4th quarter valued at about $3,992,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in StandardAero in the 4th quarter valued at about $486,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of StandardAero in the fourth quarter valued at approximately $224,000.

StandardAero Stock Performance

Shares of NYSE:SARO opened at $23.14 on Friday. StandardAero, Inc. has a fifty-two week low of $22.50 and a fifty-two week high of $34.38. The company has a 50 day moving average price of $27.30.

StandardAero (NYSE:SARO) last released its quarterly earnings data on Monday, March 10th. The company reported ($0.04) 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 analyst estimates of $1.37 billion. The company’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, analysts predict that StandardAero, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity at StandardAero

In related news, major shareholder Private Ltd Gic sold 6,629,834 shares of the company’s stock in a transaction 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analyst Weigh In

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

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.