AAR Corp. $AIR Shares Bought by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in AAR Corp. by 27.3%, owning approximately 0.31% of the company, valued at $6.27 million at the end of Q1.
• AAR Corp.'s recent earnings report revealed an EPS of $1.16, surpassing estimates and marking a 15% increase in revenue year-over-year.
• Analyst ratings on AAR Corp. are mixed, with one firm lowering its rating from "buy" to "hold," while others have raised their price targets, indicating an average target price of $83.75.

Public Sector Pension Investment Board raised its stake in shares of AAR Corp. (NYSE:AIR - Free Report) by 27.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,906 shares of the aerospace company's stock after buying an additional 23,998 shares during the quarter. Public Sector Pension Investment Board owned about 0.31% of AAR worth $6,266,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other AAR news, CEO John Mcclain Holmes III sold 31,551 shares of AAR stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $78.03, for a total transaction of $2,461,924.53. Following the completion of the transaction, the chief executive officer owned 360,921 shares in the company, valued at approximately $28,162,665.63. This trade represents a 8.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jennifer L. Vogel sold 7,000 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $78.07, for a total value of $546,490.00. Following the sale, the director owned 22,970 shares in the company, valued at $1,793,267.90. This trade represents a 23.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,182 shares of company stock worth $7,331,452. Corporate insiders own 3.60% of the company's stock.

AAR Stock Up 0.1%

Shares of AIR traded up $0.0430 during midday trading on Thursday, hitting $71.8130. 177,777 shares of the company's stock traded hands, compared to its average volume of 397,464. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 217.62 and a beta of 1.53. 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 firm's fifty day moving average is $73.35 and its 200-day moving average is $65.39. 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 issued its earnings results on Wednesday, July 16th. The aerospace company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.16. The company had revenue of $754.50 million during the quarter, compared to analyst estimates of $695.81 million. AAR had a return on equity of 11.66% and a net margin of 0.45%.The firm's quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the business posted $0.88 EPS. As a group, sell-side analysts anticipate that AAR Corp. will post 3.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Royal Bank Of Canada boosted their price objective on AAR from $75.00 to $85.00 and gave the company an "outperform" rating in a research 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 research note on Thursday, July 17th. Wall Street Zen upgraded AAR from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, Truist Financial increased their price target on AAR from $78.00 to $81.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, AAR has an average rating of "Buy" and a consensus price target of $83.75.

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.