IMC Chicago LLC Sells 11,287 Shares of AAR Corp. $AIR

IMC Chicago LLC cut its stake in shares of AAR Corp. (NYSE:AIR) by 51.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,612 shares of the aerospace company’s stock after selling 11,287 shares during the period. IMC Chicago LLC’s holdings in AAR were worth $879,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AIR. Wellington Management Group LLP lifted its holdings in AAR by 144.3% in the third quarter. Wellington Management Group LLP now owns 1,486,775 shares of the aerospace company’s stock valued at $133,319,000 after acquiring an additional 878,188 shares during the period. UBS Group AG grew its stake in shares of AAR by 709.2% during the 3rd quarter. UBS Group AG now owns 488,239 shares of the aerospace company’s stock valued at $43,780,000 after purchasing an additional 427,906 shares during the period. Franklin Resources Inc. grew its stake in shares of AAR by 36.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company’s stock valued at $107,752,000 after purchasing an additional 311,258 shares during the period. Vanguard Group Inc. increased its position in shares of AAR by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company’s stock valued at $336,229,000 after purchasing an additional 281,871 shares during the last quarter. Finally, State Street Corp increased its position in shares of AAR by 10.9% during the 2nd quarter. State Street Corp now owns 1,917,821 shares of the aerospace company’s stock valued at $131,927,000 after purchasing an additional 188,406 shares during the last quarter. 90.74% of the stock is owned by institutional investors.

AAR Stock Down 0.6%

AIR opened at $109.68 on Tuesday. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 24.32 and a beta of 1.14. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.23 and a current ratio of 2.70. The firm’s fifty day moving average is $113.00 and its 200 day moving average is $98.94. AAR Corp. has a fifty-two week low of $55.90 and a fifty-two week high of $127.21.

AAR (NYSE:AIR) last announced its quarterly earnings data on Tuesday, March 24th. The aerospace company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.21 by $0.04. AAR had a return on equity of 12.39% and a net margin of 5.46%.The business had revenue of $845.10 million for the quarter, compared to the consensus estimate of $812.58 million. During the same period in the previous year, the business earned $0.99 earnings per share. The business’s revenue was up 24.6% on a year-over-year basis. On average, sell-side analysts forecast that AAR Corp. will post 4.79 earnings per share for the current fiscal year.

Insider Activity at AAR

In other AAR news, CEO John Mcclain Holmes III sold 26,175 shares of the business’s stock in a transaction on Friday, March 27th. The shares were sold at an average price of $107.60, for a total value of $2,816,430.00. Following the sale, the chief executive officer owned 235,064 shares in the company, valued at $25,292,886.40. The trade was a 10.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sarah Louise Flanagan sold 10,750 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $108.56, for a total transaction of $1,167,020.00. Following the transaction, the chief financial officer directly owned 32,848 shares of the company’s stock, valued at $3,565,978.88. This trade represents a 24.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 96,925 shares of company stock worth $10,728,050. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AIR shares. Truist Financial upgraded shares of AAR to a “strong-buy” rating in a research report on Friday. Zacks Research downgraded shares of AAR from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Wall Street Zen upgraded shares of AAR from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Jefferies Financial Group upped their price objective on AAR to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Finally, Weiss Ratings raised AAR from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.20.

AAR 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.