Zimmer Partners LP Invests $3.71 Million in StandardAero, Inc. (NYSE:SARO)

Zimmer Partners LP purchased a new position in shares of StandardAero, Inc. (NYSE:SARO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 150,000 shares of the company’s stock, valued at approximately $3,714,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new stake in StandardAero during the 4th quarter worth $183,924,000. Carlyle Group Inc. purchased a new position in shares of StandardAero in the fourth quarter worth about $165,294,000. T. Rowe Price Investment Management Inc. acquired a new position in StandardAero during the fourth quarter worth about $161,324,000. Price T Rowe Associates Inc. MD purchased a new stake in StandardAero during the 4th quarter valued at about $155,829,000. Finally, Vanguard Group Inc. purchased a new stake in StandardAero during the 4th quarter valued at about $147,628,000.

Insiders Place Their Bets

In related news, major shareholder Private Ltd Gic sold 6,629,834 shares of the firm’s stock in a transaction dated 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 trade represents a 13.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

SARO has been the topic of a number of research reports. Morgan Stanley decreased 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. UBS Group lifted their price objective on StandardAero from $25.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.11.

StandardAero Trading Down 2.9%

NYSE:SARO opened at $29.06 on Wednesday. The company’s 50-day moving average is $26.91 and its two-hundred day moving average is $26.81. StandardAero, Inc. has a 1-year low of $21.31 and a 1-year high of $34.38.

StandardAero (NYSE:SARO) last released its quarterly earnings results on Monday, May 12th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.51 billion. The firm’s revenue was up 16.2% on a year-over-year basis. Equities research analysts predict that StandardAero, Inc. will post 0.29 EPS for the current year.

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.