Legal & General Group Plc Purchases 6,606 Shares of AAR Corp. $AIR

Legal & General Group Plc boosted its position in AAR Corp. (NYSE:AIR) by 5.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 122,491 shares of the aerospace company’s stock after acquiring an additional 6,606 shares during the period. Legal & General Group Plc’s holdings in AAR were worth $10,141,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. MQS Management LLC bought a new stake in AAR in the 4th quarter worth $299,000. Legato Capital Management LLC grew its holdings in AAR by 69.4% in the 4th quarter. Legato Capital Management LLC now owns 18,585 shares of the aerospace company’s stock worth $1,539,000 after acquiring an additional 7,613 shares during the last quarter. Csenge Advisory Group grew its holdings in AAR by 9.3% in the 4th quarter. Csenge Advisory Group now owns 15,395 shares of the aerospace company’s stock worth $1,275,000 after acquiring an additional 1,309 shares during the last quarter. ProShare Advisors LLC grew its holdings in AAR by 13.2% in the 4th quarter. ProShare Advisors LLC now owns 7,612 shares of the aerospace company’s stock worth $630,000 after acquiring an additional 888 shares during the last quarter. Finally, Wisconsin Capital Management LLC grew its holdings in AAR by 8.3% in the 4th quarter. Wisconsin Capital Management LLC now owns 72,385 shares of the aerospace company’s stock worth $5,993,000 after acquiring an additional 5,564 shares during the last quarter. Institutional investors own 90.74% of the company’s stock.

AAR Stock Up 3.5%

Shares of AAR stock opened at $115.23 on Friday. 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 stock has a market capitalization of $4.58 billion, a PE ratio of 25.55 and a beta of 1.13. AAR Corp. has a 52-week low of $64.99 and a 52-week high of $127.21. The company has a 50-day simple moving average of $112.97 and a two-hundred day simple moving average of $103.38.

AAR (NYSE:AIR) last issued its earnings results on Tuesday, March 24th. The aerospace company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.04. AAR had a net margin of 5.46% and a return on equity of 12.39%. The business had revenue of $845.10 million during the quarter, compared to analysts’ expectations of $812.58 million. During the same period in the previous year, the company earned $0.99 earnings per share. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, analysts anticipate that AAR Corp. will post 4.97 EPS for the current fiscal year.

Insider Buying and Selling at AAR

In other news, CEO John Mcclain Holmes III sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of $112.41, for a total transaction of $6,744,600.00. Following the completion of the transaction, the chief executive officer directly owned 235,064 shares of the company’s stock, valued at $26,423,544.24. The trade was a 20.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AIR. Wall Street Zen lowered shares of AAR from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Zacks Research lowered shares of AAR from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Weiss Ratings lowered shares of AAR from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 29th. KeyCorp boosted their price objective on shares of AAR from $120.00 to $132.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Finally, Jefferies Financial Group boosted their price objective on shares of AAR to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.20.

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.