AAR Corp. $AIR Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC significantly reduced its stake in AAR Corp. by 58.8%, selling over 112,000 shares, leaving it with approximately 78,897 shares valued at about $5.48 million as of the latest SEC filing.
• The company's stock received several positive analyst ratings, with price targets raised by firms such as Truist and KeyCorp, who set new targets between $90.00 and $93.00, reflecting a bullish outlook on AAR's performance.
• Insider trading activity includes notable sales by Director Jennifer L. Vogel and CFO Sean M. Gillen, who collectively sold over 25,000 shares, indicating potential changes in insider confidence in the company's future performance.

Allspring Global Investments Holdings LLC lowered its stake in AAR Corp. (NYSE:AIR - Free Report) by 58.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,897 shares of the aerospace company's stock after selling 112,626 shares during the period. Allspring Global Investments Holdings LLC owned about 0.22% of AAR worth $5,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AIR. GAMMA Investing LLC raised its position in shares of AAR by 88.5% during the 1st quarter. GAMMA Investing LLC now owns 1,131 shares of the aerospace company's stock worth $63,000 after acquiring an additional 531 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of AAR by 10.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 36,171 shares of the aerospace company's stock worth $2,025,000 after acquiring an additional 3,513 shares in the last quarter. Sheets Smith Wealth Management raised its position in shares of AAR by 3.8% during the 1st quarter. Sheets Smith Wealth Management now owns 7,281 shares of the aerospace company's stock worth $408,000 after acquiring an additional 266 shares in the last quarter. Peregrine Capital Management LLC raised its position in shares of AAR by 3.4% during the 1st quarter. Peregrine Capital Management LLC now owns 146,298 shares of the aerospace company's stock worth $8,191,000 after acquiring an additional 4,798 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of AAR during the 1st quarter worth about $294,000. Institutional investors and hedge funds own 90.74% of the company's stock.

Analysts Set New Price Targets

AIR has been the topic of a number of research reports. Weiss Ratings restated a "hold (c-)" rating on shares of AAR in a research note on Wednesday, October 8th. Truist Financial lifted their target price on AAR from $81.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. KeyCorp lifted their target price on AAR from $86.00 to $93.00 and gave the company an "overweight" rating in a research note on Monday, September 29th. Wall Street Zen upgraded AAR from a "hold" rating to a "buy" rating in a research note on Sunday, September 28th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $85.00 target price on shares of AAR in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, AAR currently has an average rating of "Buy" and a consensus price target of $89.33.

Insider Transactions at AAR

In other AAR news, Director Jennifer L. Vogel sold 7,000 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $78.07, for a total transaction of $546,490.00. Following the completion of the sale, the director directly owned 22,970 shares in the company, valued at $1,793,267.90. This represents a 23.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Sean M. Gillen sold 18,000 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $77.37, for a total value of $1,392,660.00. Following the completion of the sale, the chief financial officer directly owned 99,868 shares of the company's stock, valued at $7,726,787.16. The trade was a 15.27% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,182 shares of company stock valued at $7,331,452. Insiders own 3.60% of the company's stock.

AAR Stock Performance

NYSE AIR opened at $84.16 on Tuesday. AAR Corp. has a fifty-two week low of $46.51 and a fifty-two week high of $89.69. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 107.90 and a beta of 1.52. The business has a fifty day moving average of $78.54 and a 200-day moving average of $69.67. The company has a quick ratio of 1.31, a current ratio of 2.91 and a debt-to-equity ratio of 0.82.

AAR (NYSE:AIR - Get Free Report) last released its earnings results on Wednesday, May 28th. The aerospace company reported $0.83 EPS for the quarter. The firm had revenue of $553.30 million during the quarter. AAR had a return on equity of 12.29% and a net margin of 1.01%. As a group, analysts predict that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

AAR 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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