AAR Corp. $AIR Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its holdings in AAR Corp. by 2.7% during the first quarter, now owning 387,434 shares valued at approximately $21.69 million.
• AAR Corp.'s stock has received multiple upgrades from Wall Street analysts, with a consensus rating of "Buy" and an average price target of $83.75.
• Company insiders, including CEO John Mcclain Holmes III, have sold a total of 95,182 shares worth over $7 million in the last quarter, reflecting a decrease in their positions.

Northern Trust Corp trimmed its holdings in AAR Corp. (NYSE:AIR - Free Report) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 387,434 shares of the aerospace company's stock after selling 10,810 shares during the quarter. Northern Trust Corp owned 1.07% of AAR worth $21,692,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of AIR. Westwood Holdings Group Inc. lifted its holdings 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 acquiring an additional 148,166 shares during the last quarter. Bank of America Corp DE lifted its holdings in AAR by 293.3% in the 4th quarter. Bank of America Corp DE now owns 171,203 shares of the aerospace company's stock valued at $10,491,000 after acquiring an additional 127,668 shares during the last quarter. Nuveen LLC acquired a new stake in AAR in the 1st quarter valued at about $6,226,000. Invesco Ltd. lifted its holdings in AAR by 8.4% in the 1st quarter. Invesco Ltd. now owns 1,160,420 shares of the aerospace company's stock valued at $64,972,000 after acquiring an additional 89,802 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in AAR by 250.9% in the 4th quarter. Two Sigma Investments LP now owns 116,866 shares of the aerospace company's stock valued at $7,162,000 after acquiring an additional 83,561 shares during the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AIR has been the subject of a number of research analyst reports. Wall Street Zen raised shares of AAR from a "hold" rating to a "buy" rating in a report on Tuesday, August 19th. Royal Bank Of Canada upped their price target on shares of AAR from $75.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. KeyCorp boosted their price objective on AAR from $80.00 to $86.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Finally, Truist Financial boosted their price objective on AAR from $78.00 to $81.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, AAR currently has a consensus rating of "Buy" and an average price target of $83.75.

Insiders Place Their Bets

In other news, CEO John Mcclain Holmes III sold 31,551 shares of the company's stock in a transaction dated 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 $28,162,665.63. This represents a 8.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jessica A. Garascia sold 3,631 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $77.08, for a total value of $279,877.48. Following the completion of the transaction, the chief accounting officer owned 39,117 shares in the company, valued at $3,015,138.36. This represents a 8.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,182 shares of company stock worth $7,331,452 over the last quarter. Company insiders own 3.60% of the company's stock.

AAR Price Performance

NYSE AIR opened at $75.50 on Tuesday. The stock's 50-day moving average price is $74.47 and its two-hundred day moving average price is $65.77. The company has a current ratio of 2.72, a quick ratio of 1.26 and a debt-to-equity ratio of 0.80. The company has a market cap of $2.71 billion, a PE ratio of 228.78 and a beta of 1.50. AAR Corp. has a 1 year low of $46.51 and a 1 year high of $86.43.

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

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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