AAR Corp. $AIR Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL lessened its holdings in AAR Corp. (NYSE:AIR) by 11.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 247,427 shares of the aerospace company’s stock after selling 31,680 shares during the period. Gamco Investors INC. ET AL’s holdings in AAR were worth $22,187,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in AAR by 14.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,036 shares of the aerospace company’s stock valued at $91,000 after purchasing an additional 134 shares in the last quarter. Arizona State Retirement System lifted its holdings in AAR by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 10,683 shares of the aerospace company’s stock worth $958,000 after buying an additional 147 shares in the last quarter. Amalgamated Bank boosted its position in AAR by 1.7% in the 3rd quarter. Amalgamated Bank now owns 10,243 shares of the aerospace company’s stock valued at $918,000 after buying an additional 175 shares during the last quarter. Teacher Retirement System of Texas grew its stake 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, California State Teachers Retirement System grew its stake in shares of AAR by 1.0% during the second quarter. California State Teachers Retirement System now owns 33,178 shares of the aerospace company’s stock valued at $2,282,000 after acquiring an additional 341 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.

AAR Stock Performance

Shares of AIR stock opened at $108.36 on Friday. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 42.49 and a beta of 1.19. AAR Corp. has a one year low of $46.51 and a one year high of $121.64. The company’s 50-day simple moving average is $105.80 and its 200-day simple moving average is $89.61. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.31 and a current ratio of 2.84.

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

Insider Transactions at AAR

In related news, CFO Sarah Louise Flanagan sold 10,750 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $108.56, for a total transaction of $1,167,020.00. Following the sale, the chief financial officer directly owned 32,848 shares of the company’s stock, valued at approximately $3,565,978.88. This represents a 24.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Jessica A. Garascia sold 4,787 shares of the firm’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $95.25, for a total value of $455,961.75. Following the transaction, the chief accounting officer owned 29,557 shares in the company, valued at $2,815,304.25. This trade represents a 13.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 128,984 shares of company stock worth $12,517,090 in the last quarter. Insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AIR. Weiss Ratings reiterated a “hold (c-)” rating on shares of AAR in a research note on Monday, December 29th. KeyCorp raised their price objective on AAR from $93.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Truist Financial restated a “buy” rating and set a $128.00 price objective (up from $107.00) on shares of AAR in a report on Friday. The Goldman Sachs Group began coverage on AAR in a research report on Monday, January 26th. They issued a “neutral” rating and a $121.00 target price on the stock. Finally, Jefferies Financial Group increased their target price on AAR to $135.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, AAR currently has an average rating of “Moderate Buy” and a consensus target price of $119.60.

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.