Franklin Resources Inc. Purchases Shares of 1,854,383 StandardAero, Inc. (NYSE:SARO)

Franklin Resources Inc. bought a new position in shares of StandardAero, Inc. (NYSE:SARO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,854,383 shares of the company’s stock, valued at approximately $45,915,000. Franklin Resources Inc. owned approximately 0.55% of StandardAero at the end of the most recent quarter.

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

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 firm has a fifty day moving average of $27.30.

StandardAero (NYSE:SARO) last released its quarterly earnings results on Monday, March 10th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.20). The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.37 billion. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, equities research analysts forecast that StandardAero, Inc. will post 0.29 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SARO shares. UBS Group boosted their target price on shares of StandardAero from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, March 11th. Morgan Stanley decreased their target price on StandardAero from $33.00 to $32.00 and set an “equal weight” rating for the company in a research 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.89.

Insiders Place Their Bets

In other StandardAero news, major shareholder Private Ltd Gic sold 6,629,834 shares of the firm’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 transaction, the insider now owns 40,817,224 shares of the company’s stock, valued at approximately $1,108,595,803.84. This trade represents a 13.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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.