4,000 Shares in AAR Corp. (NYSE:AIR) Purchased by Keybank National Association OH

Posted by Defense World Staff on Aug 25th, 2023

Keybank National Association OH purchased a new position in AAR Corp. (NYSE:AIR – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,000 shares of the aerospace company’s stock, valued at approximately $218,000.

A number of other institutional investors also recently bought and sold shares of AIR. BlackRock Inc. raised its stake in AAR by 10.7% in the first quarter. BlackRock Inc. now owns 6,239,962 shares of the aerospace company’s stock worth $302,202,000 after buying an additional 601,462 shares in the last quarter. State Street Corp raised its stake in AAR by 32.1% in the first quarter. State Street Corp now owns 2,209,912 shares of the aerospace company’s stock worth $107,026,000 after buying an additional 537,011 shares in the last quarter. Millennium Management LLC raised its stake in AAR by 6,947.0% in the second quarter. Millennium Management LLC now owns 332,196 shares of the aerospace company’s stock worth $13,899,000 after buying an additional 327,482 shares in the last quarter. Norges Bank bought a new position in shares of AAR during the fourth quarter valued at approximately $14,520,000. Finally, Thrivent Financial for Lutherans increased its stake in shares of AAR by 880.4% during the second quarter. Thrivent Financial for Lutherans now owns 266,093 shares of the aerospace company’s stock valued at $11,133,000 after purchasing an additional 238,951 shares in the last quarter. 95.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AIR has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of AAR in a research note on Thursday, August 17th. They set a “hold” rating for the company. Royal Bank of Canada increased their price target on shares of AAR from $60.00 to $66.00 in a report on Wednesday, July 19th. Finally, Truist Financial increased their price target on shares of AAR from $60.00 to $68.00 in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

View Our Latest Report on AAR

Insider Transactions at AAR

In other news, CAO Eric Pachapa sold 11,996 shares of AAR stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $58.12, for a total transaction of $697,207.52. Following the transaction, the chief accounting officer now owns 32,951 shares in the company, valued at approximately $1,915,112.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Eric Pachapa sold 11,996 shares of AAR stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $58.12, for a total transaction of $697,207.52. Following the transaction, the chief accounting officer now owns 32,951 shares in the company, valued at approximately $1,915,112.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Mcclain Holmes III sold 4,960 shares of AAR stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $60.32, for a total transaction of $299,187.20. Following the transaction, the chief executive officer now owns 321,766 shares in the company, valued at approximately $19,408,925.12. The disclosure for this sale can be found here. Insiders have sold 49,971 shares of company stock worth $2,959,062 in the last 90 days. 4.30% of the stock is currently owned by insiders.

AAR Trading Down 1.6 %

Shares of AIR stock opened at $61.13 on Friday. AAR Corp. has a 12-month low of $33.75 and a 12-month high of $63.88. The company has a current ratio of 3.12, a quick ratio of 1.49 and a debt-to-equity ratio of 0.25. The firm’s 50 day moving average is $58.50 and its 200 day moving average is $55.25. The stock has a market capitalization of $2.14 billion, a P/E ratio of 23.97 and a beta of 1.61.

AAR (NYSE:AIR – Get Free Report) last issued its earnings results on Tuesday, July 18th. The aerospace company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.05. AAR had a net margin of 4.53% and a return on equity of 9.61%. The company had revenue of $553.00 million for the quarter, compared to analysts’ expectations of $525.92 million. During the same quarter last year, the company posted $0.72 earnings per share. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. Research analysts expect that AAR Corp. will post 3.46 earnings per share for the current year.

About AAR

(Free Report)

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. It operates through Aviation Services and Expeditionary Services segments. The Aviation Services segment engages in lease and sale of new, overhauled and repaired engine, and airframe parts and components, as well as aircrafts; and offers customized flight hour component inventory and repair, warranty claim management, and outsourcing programs for engine and airframe parts and components.