Insider Selling: AAR (NYSE:AIR) CEO Sells $2,925,000.00 in Stock

AAR Corp. (NYSE:AIR) CEO John Mcclain Holmes III sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $97.50, for a total transaction of $2,925,000.00. Following the completion of the sale, the chief executive officer directly owned 237,064 shares in the company, valued at $23,113,740. This represents a 11.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

John Mcclain Holmes III also recently made the following trade(s):

• On Tuesday, January 13th, John Mcclain Holmes III sold 16,802 shares of AAR stock. The stock was sold at an average price of $98.93, for a total transaction of $1,662,221.86.
• On Wednesday, January 14th, John Mcclain Holmes III sold 9,947 shares of AAR stock. The shares were sold at an average price of $99.41, for a total transaction of $988,831.27.
• On Friday, January 2nd, John Mcclain Holmes III sold 23,077 shares of AAR stock. The stock was sold at an average price of $84.12, for a total transaction of $1,941,237.24.
• On Wednesday, November 5th, John Mcclain Holmes III sold 38,462 shares of AAR stock. The shares were sold at an average price of $83.50, for a total value of $3,211,577.00.

AAR Trading Up 4.8%

NYSE AIR opened at $105.91 on Friday. The company has a quick ratio of 1.31, a current ratio of 2.84 and a debt-to-equity ratio of 0.61. The stock’s 50-day simple moving average is $84.85 and its two-hundred day simple moving average is $80.44. AAR Corp. has a twelve month low of $46.51 and a twelve month high of $106.19. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 41.53 and a beta of 1.24.

AAR (NYSE:AIR) last announced its quarterly earnings data on Tuesday, January 6th. The aerospace company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.02 by $0.16. The firm had revenue of $795.30 million for the quarter, compared to analyst estimates of $760.95 million. AAR had a return on equity of 12.40% and a net margin of 3.17%.The company’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 EPS. Research analysts forecast that AAR Corp. will post 3.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AIR has been the subject of a number of research reports. Royal Bank Of Canada upped their price objective on shares of AAR from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Truist Financial set a $107.00 price target on shares of AAR in a research report on Friday, January 9th. Jefferies Financial Group set a $112.00 price objective on AAR and gave the company a “buy” rating in a research note on Thursday. Wall Street Zen raised AAR from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of AAR in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, AAR presently has a consensus rating of “Buy” and a consensus price target of $108.25.

Hedge Funds Weigh In On AAR

Hedge funds and other institutional investors have recently modified their holdings of the company. Oliver Luxxe Assets LLC purchased a new stake in AAR in the 3rd quarter worth approximately $2,755,000. Legal & General Group Plc raised its holdings in shares of AAR by 12.1% during the second quarter. Legal & General Group Plc now owns 120,577 shares of the aerospace company’s stock valued at $8,294,000 after acquiring an additional 12,976 shares in the last quarter. Callan Family Office LLC purchased a new stake in AAR in the second quarter worth $239,000. Intech Investment Management LLC lifted its stake in AAR by 122.7% in the first quarter. Intech Investment Management LLC now owns 52,651 shares of the aerospace company’s stock worth $2,948,000 after acquiring an additional 29,005 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in AAR by 0.5% in the second quarter. Franklin Resources Inc. now owns 842,909 shares of the aerospace company’s stock valued at $57,984,000 after acquiring an additional 4,608 shares in the last quarter. 90.74% of the stock is owned by institutional investors.

AAR Company Profile

AAR Corp. (NYSE: AIR) is a global provider of aviation products and services to commercial, government and defense customers. The company offers a comprehensive portfolio of maintenance, repair and overhaul (MRO) solutions, component repair and overhaul, and engineering services designed to support a wide variety of fixed-wing and rotary aircraft. Leveraging FAA and EASA certifications, AAR delivers turnkey maintenance programs and ad hoc repair services that enhance aircraft availability and reliability.

In its Aviation Supply Chain Services segment, AAR sources, stores and distributes parts for both commercial airlines and military operators.