Rhumbline Advisers grew its holdings in AAR Corp. (NYSE:AIR – Free Report) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,985 shares of the aerospace company’s stock after purchasing an additional 3,837 shares during the quarter. Rhumbline Advisers owned approximately 0.39% of AAR worth $7,363,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Quantbot Technologies LP acquired a new stake in shares of AAR in the first quarter valued at approximately $26,000. AdvisorShares Investments LLC acquired a new stake in shares of AAR in the first quarter valued at approximately $27,000. Point72 Hong Kong Ltd acquired a new stake in shares of AAR in the first quarter valued at approximately $44,000. Tower Research Capital LLC TRC grew its position in shares of AAR by 160.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,051 shares of the aerospace company’s stock valued at $57,000 after purchasing an additional 648 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of AAR in the first quarter valued at approximately $102,000. 89.87% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on AIR. StockNews.com began coverage on shares of AAR in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Royal Bank of Canada raised their target price on shares of AAR from $60.00 to $66.00 in a research report on Wednesday, July 19th. Finally, Truist Financial increased their price target on shares of AAR from $60.00 to $68.00 in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, AAR has a consensus rating of “Moderate Buy” and an average target price of $63.00.
AAR Stock Performance
NYSE:AIR opened at $58.56 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 3.12 and a debt-to-equity ratio of 0.25. The company has a market cap of $2.05 billion, a P/E ratio of 22.96 and a beta of 1.61. AAR Corp. has a fifty-two week low of $33.75 and a fifty-two week high of $63.88. The firm’s 50 day moving average is $59.34 and its two-hundred day moving average is $55.76.
AAR (NYSE:AIR – Get Free Report) last issued its earnings results on Tuesday, July 18th. The aerospace company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.05. AAR had a net margin of 4.53% and a return on equity of 9.61%. The business had revenue of $553.00 million for the quarter, compared to the consensus estimate of $525.92 million. During the same quarter last year, the firm posted $0.72 EPS. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. Analysts expect that AAR Corp. will post 3.46 EPS for the current year.
Insider Buying and Selling
In related news, CEO John Mcclain Holmes III sold 10,000 shares of AAR stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $58.02, for a total transaction of $580,200.00. Following the sale, the chief executive officer now owns 321,766 shares of the company’s stock, valued at approximately $18,668,863.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO John Mcclain Holmes III sold 10,000 shares of AAR stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $58.02, for a total transaction of $580,200.00. Following the sale, the chief executive officer now owns 321,766 shares of the company’s stock, valued at approximately $18,668,863.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Eric Pachapa sold 11,996 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $58.12, for a total transaction of $697,207.52. Following the transaction, the chief accounting officer now directly owns 32,951 shares of the company’s stock, valued at $1,915,112.12. The disclosure for this sale can be found here. Insiders have sold 49,971 shares of company stock valued at $2,959,062 in the last quarter. Company insiders own 4.30% of the company’s stock.
AAR Company Profile
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.
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