AAR Corp. $AIR Shares Sold by Gamco Investors INC. ET AL

Key Points

• AAR beat expectations: The company reported Q EPS of $1.18 (>$1.02 est.) and revenue of $795.3M (up 15.9% YoY), prompting several analyst price-target increases and a MarketBeat consensus rating of Moderate Buy with a $119.60 target.
• Notable ownership moves: Gamco Investors cut its stake by 11.4% (sold 31,680 shares, now owns 247,427 shares worth $22.19M), while insiders have sold 128,984 shares (~$12.52M) in the past 90 days (including the CEO), even as institutions hold 90.74% of the stock and insiders own 3.6%.

Gamco Investors INC. ET AL reduced its stake in AAR Corp. (NYSE:AIR - Free Report) by 11.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 247,427 shares of the aerospace company's stock after selling 31,680 shares during the quarter. Gamco Investors INC. ET AL owned 0.63% of AAR worth $22,187,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Osterweis Capital Management Inc. purchased a new position in AAR in the 2nd quarter valued at $26,000. Salomon & Ludwin LLC acquired a new position in AAR in the 3rd quarter valued at $30,000. Optiver Holding B.V. purchased a new position in AAR during the 3rd quarter worth $31,000. Westfuller Advisors LLC acquired a new stake in shares of AAR in the 3rd quarter worth $39,000. Finally, Concord Wealth Partners acquired a new stake in shares of AAR in the 3rd quarter worth $51,000. Hedge funds and other institutional investors own 90.74% of the company's stock.

Wall Street Analyst Weigh In

AIR has been the topic of a number of recent analyst reports. Truist Financial reiterated a "buy" rating and set a $128.00 price target (up from $107.00) on shares of AAR in a research note on Friday. Jefferies Financial Group lifted their price objective on AAR to $135.00 and gave the company a "buy" rating in a report on Monday, February 23rd. Wall Street Zen upgraded AAR from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. Royal Bank Of Canada increased their target price on AAR from $90.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 7th. Finally, KeyCorp raised their price target on AAR from $93.00 to $109.00 and gave the company an "overweight" rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $119.60.

Insider Transactions at AAR

In other AAR news, CEO John Mcclain Holmes III sold 10,000 shares of the company's stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $108.44, for a total value of $1,084,400.00. Following the sale, the chief executive officer owned 237,064 shares of the company's stock, valued at approximately $25,707,220.16. This represents a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jessica A. Garascia sold 4,787 shares of the company's stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $95.25, for a total value of $455,961.75. Following the completion of the sale, the chief accounting officer directly owned 29,557 shares in the company, valued at $2,815,304.25. This trade represents a 13.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 128,984 shares of company stock worth $12,517,090. 3.60% of the stock is currently owned by insiders.

AAR Stock Down 2.1%

Shares of NYSE AIR opened at $108.36 on Friday. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 42.49 and a beta of 1.19. AAR Corp. has a 52 week low of $46.51 and a 52 week high of $121.64. The firm has a 50-day moving average price of $105.80 and a 200 day moving average price of $89.61. The company has a quick ratio of 1.31, a current ratio of 2.84 and a debt-to-equity ratio of 0.61.

AAR (NYSE:AIR - Get Free Report) last issued its earnings results on Tuesday, January 6th. The aerospace company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.16. AAR had a net margin of 3.17% and a return on equity of 12.40%. The company had revenue of $795.30 million for the quarter, compared to analyst estimates of $760.95 million. During the same period in the prior year, the business posted $0.90 earnings per share. The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. Equities research analysts anticipate that AAR Corp. will post 3.77 EPS for the current fiscal year.

About AAR

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.

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