Algert Global LLC Purchases 61,794 Shares of AAR Corp. $AIR

Key Points

• Algert Global LLC increased its stake in AAR Corp. by 100.7% during the first quarter, now holding approximately 0.34% of the company valued at $6.9 million.
• KeyCorp and other analysts have raised their price targets for AAR shares, with an average target now set at $83.75 and a consensus rating of "Moderate Buy."
• Insider selling includes a notable transaction by CFO Sean M. Gillen, who sold 18,000 shares, decreasing his stake by 15.27%.

Algert Global LLC increased its position in shares of AAR Corp. (NYSE:AIR - Free Report) by 100.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,170 shares of the aerospace company's stock after acquiring an additional 61,794 shares during the period. Algert Global LLC owned about 0.34% of AAR worth $6,896,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Westwood Holdings Group Inc. lifted its stake in AAR by 10.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,589,320 shares of the aerospace company's stock valued at $88,986,000 after purchasing an additional 148,166 shares during the last quarter. Invesco Ltd. grew its holdings in AAR by 8.4% in the first quarter. Invesco Ltd. now owns 1,160,420 shares of the aerospace company's stock worth $64,972,000 after purchasing an additional 89,802 shares during the period. Emerald Advisers LLC grew its holdings in AAR by 4.2% in the first quarter. Emerald Advisers LLC now owns 510,814 shares of the aerospace company's stock worth $28,600,000 after purchasing an additional 20,654 shares during the period. Royal Bank of Canada grew its holdings in AAR by 3.3% in the fourth quarter. Royal Bank of Canada now owns 480,338 shares of the aerospace company's stock worth $29,436,000 after purchasing an additional 15,318 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in AAR by 11.3% in the fourth quarter. Janus Henderson Group PLC now owns 389,313 shares of the aerospace company's stock worth $23,858,000 after purchasing an additional 39,505 shares during the period. Institutional investors and hedge funds own 90.74% of the company's stock.

AAR Stock Up 5.6%

AAR stock traded up $4.0030 during midday trading on Friday, hitting $75.7330. 422,585 shares of the stock were exchanged, compared to its average volume of 312,744. AAR Corp. has a 52-week low of $46.51 and a 52-week high of $86.43. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 229.50 and a beta of 1.53. The business's 50-day moving average price is $73.35 and its 200-day moving average price is $65.39. The company has a quick ratio of 1.26, a current ratio of 2.72 and a debt-to-equity ratio of 0.80.

AAR (NYSE:AIR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The aerospace company reported $1.16 EPS for the quarter, topping the consensus estimate 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 net margin of 0.45% and a return on equity of 11.66%. The company's revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 earnings per share. On average, research analysts expect that AAR Corp. will post 3.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on AIR. Royal Bank Of Canada raised their price target on shares of AAR from $75.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. KeyCorp raised their price target on shares of AAR from $80.00 to $86.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Truist Financial lifted their price objective on shares of AAR from $78.00 to $81.00 and gave the company a "buy" rating in a report on Friday, July 11th. Finally, Wall Street Zen upgraded shares of AAR from a "hold" rating to a "buy" rating in a report on Tuesday. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $83.75.

Insider Buying and Selling at AAR

In other news, CAO Jessica A. Garascia sold 3,631 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $77.08, for a total value of $279,877.48. Following the sale, the chief accounting officer owned 39,117 shares of the company's stock, valued at $3,015,138.36. The trade was a 8.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John Mcclain Holmes III sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $71.70, for a total transaction of $717,000.00. Following the sale, the chief executive officer directly owned 298,603 shares in the company, valued at $21,409,835.10. This trade represents a 3.24% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,182 shares of company stock worth $7,331,452. 3.60% of the stock is currently owned by company insiders.

About AAR

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.