AAR Corp. $AIR Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its stake in AAR Corp. by 5.4%, now holding approximately 2.34% of the company valued at $47.3 million after selling 48,276 shares.
• Institutional ownership remains strong, with 90.74% of AAR's stock owned by institutional investors and hedge funds, while several firms increased their positions in the fourth quarter.
• Analysts have positive outlooks for AAR, with multiple upgrades to a "buy" rating and target prices raised to an average of $83.75.

American Century Companies Inc. lessened its stake in AAR Corp. (NYSE:AIR - Free Report) by 5.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 845,546 shares of the aerospace company's stock after selling 48,276 shares during the period. American Century Companies Inc. owned 2.34% of AAR worth $47,342,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AIR. LPL Financial LLC increased its position in AAR by 13.3% in the 4th quarter. LPL Financial LLC now owns 11,601 shares of the aerospace company's stock valued at $711,000 after acquiring an additional 1,362 shares during the period. Bank of Montreal Can increased its position in AAR by 5.6% during the 4th quarter. Bank of Montreal Can now owns 7,387 shares of the aerospace company's stock worth $453,000 after purchasing an additional 390 shares during the period. Raymond James Financial Inc. acquired a new position in AAR during the 4th quarter worth approximately $6,849,000. Sterling Capital Management LLC increased its position in AAR by 761.2% during the 4th quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company's stock worth $54,000 after purchasing an additional 784 shares during the period. Finally, Summit Investment Advisors Inc. increased its position in AAR by 6.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,655 shares of the aerospace company's stock worth $224,000 after purchasing an additional 226 shares during the period. Institutional investors and hedge funds own 90.74% of the company's stock.

Insiders Place Their Bets

In other AAR news, Director Jennifer L. Vogel sold 7,000 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $78.07, for a total transaction of $546,490.00. Following the transaction, the director owned 22,970 shares of the company's stock, valued at $1,793,267.90. This represents a 23.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO John Mcclain Holmes III sold 31,551 shares of the stock in a transaction 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 directly owned 360,921 shares in the company, valued at approximately $28,162,665.63. This represents a 8.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,182 shares of company stock worth $7,331,452. 3.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AIR shares. Truist Financial boosted their target price on AAR from $78.00 to $81.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Wall Street Zen upgraded AAR from a "hold" rating to a "buy" rating in a research report on Tuesday. KeyCorp boosted their target price on AAR from $80.00 to $86.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Finally, 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. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, AAR currently has a consensus rating of "Buy" and a consensus price target of $83.75.

AAR Price Performance

Shares of NYSE:AIR opened at $73.7610 on Wednesday. The business's 50 day simple moving average is $73.22 and its 200-day simple moving average is $65.31. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 223.52 and a beta of 1.53. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.72 and a quick ratio of 1.26. AAR Corp. has a 12 month low of $46.51 and a 12 month high of $86.43.

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

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.

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