AAR Corp. (NYSE:AIR) Shares Purchased by Phocas Financial Corp.

Phocas Financial Corp. boosted its holdings in AAR Corp. (NYSE:AIR) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,687 shares of the aerospace company’s stock after purchasing an additional 2,904 shares during the quarter. AAR makes up about 1.2% of Phocas Financial Corp.’s investment portfolio, making the stock its 15th largest holding. Phocas Financial Corp.’s holdings in AAR were worth $9,403,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AIR. BlackRock Inc. boosted its holdings 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 purchasing an additional 601,462 shares during the period. State Street Corp lifted 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 valued at $107,026,000 after buying an additional 537,011 shares during the last quarter. Emerald Advisers LLC lifted its stake in AAR by 4,275.8% in the third quarter. Emerald Advisers LLC now owns 401,440 shares of the aerospace company’s stock valued at $23,898,000 after buying an additional 392,266 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in AAR by 503.7% in the first quarter. Envestnet Asset Management Inc. now owns 411,652 shares of the aerospace company’s stock valued at $3,343,000 after buying an additional 343,465 shares during the last quarter. Finally, Millennium Management LLC lifted 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 valued at $13,899,000 after buying an additional 327,482 shares during the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AIR. Truist Financial raised their target price on AAR from $68.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $80.00 target price on shares of AAR in a research note on Friday, March 22nd. Benchmark restated a “buy” rating and set a $65.00 price objective on shares of AAR in a research note on Friday, March 22nd. Stifel Nicolaus lifted their price objective on shares of AAR from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. Finally, William Blair assumed coverage on shares of AAR in a research note on Monday, January 29th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $76.75.

Insiders Place Their Bets

In other AAR news, CAO Jessica A. Garascia sold 7,352 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $63.37, for a total value of $465,896.24. Following the sale, the chief accounting officer now directly owns 28,165 shares in the company, valued at $1,784,816.05. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO John Mcclain Holmes III sold 28,145 shares of AAR stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $57.96, for a total value of $1,631,284.20. Following the transaction, the chief executive officer now owns 303,621 shares of the company’s stock, valued at approximately $17,597,873.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jessica A. Garascia sold 7,352 shares of AAR stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $63.37, for a total value of $465,896.24. Following the completion of the transaction, the chief accounting officer now directly owns 28,165 shares in the company, valued at approximately $1,784,816.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,747 shares of company stock worth $3,858,323. 4.30% of the stock is owned by corporate insiders.

AAR Stock Performance

Shares of NYSE AIR traded down $1.34 during midday trading on Friday, reaching $60.79. 257,383 shares of the company traded hands, compared to its average volume of 446,973. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.90 and a quick ratio of 1.33. The stock has a 50-day moving average price of $63.33 and a 200 day moving average price of $63.01. AAR Corp. has a 52 week low of $50.06 and a 52 week high of $73.95. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 35.76 and a beta of 1.67.

AAR (NYSE:AIR) last issued its quarterly earnings results on Thursday, March 21st. The aerospace company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.84 by $0.01. AAR had a net margin of 2.73% and a return on equity of 10.17%. Sell-side analysts anticipate that AAR Corp. will post 3.3 earnings per share for the current fiscal year.

About AAR

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.