Royce & Associates LP Sells 14,180 Shares of AAR Corp. $AIR

Royce & Associates LP lessened its stake in shares of AAR Corp. (NYSE:AIR) by 7.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,420 shares of the aerospace company’s stock after selling 14,180 shares during the quarter. Royce & Associates LP owned about 0.48% of AAR worth $16,896,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in AAR by 14.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,036 shares of the aerospace company’s stock valued at $91,000 after buying an additional 134 shares in the last quarter. Arizona State Retirement System grew its stake in AAR by 1.4% in the third quarter. Arizona State Retirement System now owns 10,683 shares of the aerospace company’s stock valued at $958,000 after acquiring an additional 147 shares during the period. Amalgamated Bank increased its holdings in shares of AAR by 1.7% during the third quarter. Amalgamated Bank now owns 10,243 shares of the aerospace company’s stock valued at $918,000 after acquiring an additional 175 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of AAR by 4.4% during the second quarter. Teacher Retirement System of Texas now owns 5,482 shares of the aerospace company’s stock valued at $377,000 after acquiring an additional 231 shares in the last quarter. Finally, Optiver Holding B.V. acquired a new position in shares of AAR during the third quarter worth approximately $31,000. 90.74% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO John Mcclain Holmes III sold 10,000 shares of AAR stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $108.44, for a total transaction of $1,084,400.00. Following the sale, the chief executive officer directly owned 237,064 shares in the company, valued at approximately $25,707,220.16. This trade represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jessica A. Garascia sold 4,787 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $95.25, for a total value of $455,961.75. Following the completion of the transaction, the chief accounting officer owned 29,557 shares of the company’s stock, valued at $2,815,304.25. This trade represents a 13.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 128,984 shares of company stock valued at $12,517,090. Insiders own 3.60% of the company’s stock.

AAR Stock Up 2.2%

AAR stock opened at $119.75 on Tuesday. AAR Corp. has a fifty-two week low of $46.51 and a fifty-two week high of $121.64. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.31 and a current ratio of 2.84. The firm’s 50-day simple moving average is $103.56 and its 200 day simple moving average is $88.63. The stock has a market cap of $4.74 billion, a PE ratio of 46.96 and a beta of 1.19.

AAR (NYSE:AIR) last posted 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. AAR had a net margin of 3.17% and a return on equity of 12.40%. The firm had revenue of $795.30 million during the quarter, compared to analyst estimates of $760.95 million. During the same quarter last year, the business posted $0.90 EPS. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. Research analysts predict that AAR Corp. will post 3.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. KeyCorp lifted their price target on shares of AAR from $93.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Jefferies Financial Group raised their price objective on shares of AAR to $135.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Zacks Research upgraded shares of AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. The Goldman Sachs Group initiated coverage on shares of AAR in a research report on Monday, January 26th. They set a “neutral” rating and a $121.00 target price for the company. Finally, Truist Financial set a $107.00 price target on shares of AAR in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.40.

About AAR

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.