Soros Fund Management LLC Invests $30.53 Million in StandardAero, Inc. (NYSE:SARO)

Soros Fund Management LLC bought a new stake in shares of StandardAero, Inc. (NYSE:SARO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,232,825 shares of the company’s stock, valued at approximately $30,525,000. Soros Fund Management LLC owned approximately 0.37% of StandardAero as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. R Squared Ltd purchased a new stake in shares of StandardAero during the 4th quarter valued at about $39,000. Jennison Associates LLC purchased a new position in StandardAero in the fourth quarter worth about $23,063,000. Renaissance Capital LLC purchased a new position in shares of StandardAero during the fourth quarter valued at approximately $3,992,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of StandardAero during the fourth quarter valued at approximately $486,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in StandardAero during the fourth quarter valued at about $224,000.

Insider Activity at StandardAero

In other 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 transaction, the insider now directly owns 40,817,224 shares of the company’s stock, valued at approximately $1,108,595,803.84. This represents a 13.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

StandardAero Stock Performance

Shares of StandardAero stock opened at $26.77 on Tuesday. The business has a 50-day moving average of $26.56 and a 200-day moving average of $27.06. StandardAero, Inc. has a 1-year low of $21.31 and a 1-year high of $34.38.

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 business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.37 billion. StandardAero’s quarterly revenue was up 21.8% compared to the same quarter last year. As a group, analysts predict that StandardAero, Inc. will post 0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SARO has been the subject of several recent analyst reports. UBS Group raised their price target on StandardAero from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, March 11th. 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 research note on Friday, March 14th. Three investment 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.89.

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.