AAR Corp. (NYSE:AIR) CEO Sells $2,461,924.53 in Stock

Key Points

• AAR Corp. CEO John Mcclain Holmes III sold 31,551 shares of stock for approximately $2.46 million, reducing his stake in the company by 8.04% to 360,921 shares.
• The company reported $1.16 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $1.00 EPS and showcasing a 15.0% increase in revenue compared to last year.
• AAR Corp. stock is currently trading at $76.44, down 1.4%, with a recent price target consensus of $83.75 among analysts.

AAR Corp. (NYSE:AIR - Get Free Report) CEO John Mcclain Holmes III sold 31,551 shares of AAR stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $78.03, for a total value of $2,461,924.53. Following the transaction, the chief executive officer owned 360,921 shares in the company, valued at approximately $28,162,665.63. The trade was a 8.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

John Mcclain Holmes III also recently made the following trade(s):

• On Wednesday, July 23rd, John Mcclain Holmes III sold 25,000 shares of AAR stock. The shares were sold at an average price of $77.34, for a total value of $1,933,500.00.

AAR Stock Down 1.4%

NYSE AIR traded down $1.07 during trading hours on Friday, hitting $76.44. The company had a trading volume of 382,628 shares, compared to its average volume of 304,391. AAR Corp. has a fifty-two week low of $46.51 and a fifty-two week high of $86.43. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 231.63 and a beta of 1.44. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.72 and a quick ratio of 1.26. The firm's 50 day moving average is $68.89 and its 200 day moving average is $64.58.

AAR (NYSE:AIR - Get Free Report) last announced its earnings results on Wednesday, July 16th. The aerospace company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.16. The business had revenue of $754.50 million for the quarter, compared to analyst estimates of $695.81 million. AAR had a return on equity of 11.66% and a net margin of 0.45%. The company's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 earnings per share. Sell-side analysts anticipate that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AIR. Truist Financial lifted their price objective on AAR from $78.00 to $81.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Wall Street Zen raised AAR from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Royal Bank Of Canada boosted their target price on AAR from $75.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Finally, KeyCorp increased their target price on AAR from $80.00 to $86.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $83.75.

Institutional Investors Weigh In On AAR

A number of hedge funds have recently made changes to their positions in AIR. Hughes Financial Services LLC bought a new stake in AAR during the first quarter worth approximately $28,000. Putney Financial Group LLC bought a new position in shares of AAR in the fourth quarter valued at $30,000. Virtus Fund Advisers LLC bought a new position in shares of AAR in the fourth quarter valued at $36,000. Virtus Advisers LLC bought a new position in shares of AAR in the first quarter valued at $47,000. Finally, Sterling Capital Management LLC increased its holdings in shares of AAR by 761.2% in the fourth quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company's stock valued at $54,000 after buying an additional 784 shares in the last quarter. Institutional investors own 90.74% of the company's stock.

AAR Company Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Parts Supply segment leases and sells aircraft components and replacement parts. The Repair & Engineering segment provides airframe maintenance services, such as airframe inspection, painting, line maintenance, airframe modification, structural repair, avionics service and installation, exterior and interior refurbishment, and engineering and support services; component repair services comprising maintenance, repair, and overhaul (MRO) services, engine and airframe accessories, and interior refurbishment; and landing gear overhaul services, including repair services on wheels and brakes.

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