Teacher Retirement System of Texas Takes $18.69 Million Position in StandardAero, Inc. (NYSE:SARO)

Teacher Retirement System of Texas purchased a new stake in StandardAero, Inc. (NYSE:SARO) in the 4th quarter, Holdings Channel.com reports. The firm purchased 754,880 shares of the company’s stock, valued at approximately $18,691,000.

Several other hedge funds and other institutional investors have also modified their holdings of SARO. R Squared Ltd acquired a new position in shares of StandardAero in the 4th quarter valued at about $39,000. PNC Financial Services Group Inc. acquired a new position in shares of StandardAero in the 4th quarter valued at about $62,000. Amalgamated Bank acquired a new position in shares of StandardAero in the 4th quarter valued at about $98,000. Daiwa Securities Group Inc. acquired a new position in shares of StandardAero in the 4th quarter valued at about $107,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of StandardAero in the 4th quarter valued at about $224,000.

StandardAero Stock Down 1.5 %

Shares of NYSE:SARO opened at $28.68 on Friday. The stock has a 50 day moving average of $26.83. StandardAero, Inc. has a twelve month low of $22.50 and a twelve month high of $34.38.

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

Analysts Set New Price Targets

SARO has been the subject of a number of analyst reports. Morgan Stanley reduced their target price on shares of StandardAero from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Friday, March 14th. UBS Group boosted their target price on shares of StandardAero from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, March 11th. Finally, Bank of America reduced their target price on shares of StandardAero from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, StandardAero presently has a consensus rating of “Moderate Buy” and a consensus target price 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.