Burkehill Global Management LP Takes Position in StandardAero, Inc. (NYSE:SARO)

Burkehill Global Management LP purchased a new position in shares of StandardAero, Inc. (NYSE:SARO) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 1,000,000 shares of the company’s stock, valued at approximately $24,760,000. StandardAero accounts for 2.4% of Burkehill Global Management LP’s holdings, making the stock its 10th biggest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of StandardAero in the 4th quarter valued at approximately $486,000. Renaissance Capital LLC acquired a new stake in shares of StandardAero during the fourth quarter worth $3,992,000. Jennison Associates LLC purchased a new position in StandardAero in the 4th quarter valued at $23,063,000. Legato Capital Management LLC purchased a new position in StandardAero during the 4th quarter worth $335,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in StandardAero during the 4th quarter worth $224,000.

StandardAero Price Performance

Shares of StandardAero stock opened at $28.07 on Thursday. The firm has a 50-day moving average of $26.09. StandardAero, Inc. has a 12-month low of $22.50 and a 12-month high of $34.38.

StandardAero (NYSE:SARO) last released its quarterly earnings data on Monday, March 10th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.20). The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.37 billion. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. As a group, sell-side analysts predict that StandardAero, Inc. will post 0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SARO. Bank of America dropped their price target on shares of StandardAero from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. UBS Group boosted their target price on StandardAero from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, StandardAero has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

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.