AAR Corp. (NYSE:AIR) Shares Sold by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp reduced its stake in AAR Corp. by 18.2% in the first quarter, selling 6,302 shares and now holding approximately 0.08% of the company valued at $1,583,000.
• Several institutional investors have recently increased their positions in AAR, with JPMorgan Chase & Co. significantly raising its holdings by 215.9% during the fourth quarter.
• Analysts have a consensus rating of "Buy" for AAR stock, with price targets from various brokerages ranging from $80.00 to $86.00, suggesting an optimistic outlook on the company's performance.

Alberta Investment Management Corp trimmed its holdings in AAR Corp. (NYSE:AIR - Free Report) by 18.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,278 shares of the aerospace company's stock after selling 6,302 shares during the period. Alberta Investment Management Corp owned approximately 0.08% of AAR worth $1,583,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Hughes Financial Services LLC purchased a new position in shares of AAR during the first quarter worth about $28,000. Putney Financial Group LLC bought a new position in AAR during the 4th quarter worth approximately $30,000. Virtus Fund Advisers LLC bought a new stake in AAR during the 4th quarter valued at $36,000. Sterling Capital Management LLC raised 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 valued at $54,000 after purchasing an additional 784 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake 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 valued at $63,000 after purchasing an additional 531 shares in the last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Jennifer L. Vogel sold 7,000 shares of the 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 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jessica A. Garascia sold 3,631 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $77.08, for a total value of $279,877.48. Following the completion of the sale, the chief accounting officer directly owned 39,117 shares of the company's stock, valued at $3,015,138.36. This trade represents a 8.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,182 shares of company stock valued at $6,614,452. 4.10% of the stock is currently owned by corporate insiders.

AAR Stock Down 0.1%

Shares of AIR traded down $0.10 during midday trading on Thursday, reaching $71.98. 168,642 shares of the stock were exchanged, compared to its average volume of 304,988. The company has a current ratio of 2.72, a quick ratio of 1.26 and a debt-to-equity ratio of 0.80. AAR Corp. has a 52 week low of $46.51 and a 52 week high of $86.43. The company's 50 day moving average is $71.26 and its two-hundred day moving average is $64.97. The company has a market capitalization of $2.58 billion, a P/E ratio of 218.13 and a beta of 1.53.

AAR (NYSE:AIR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The aerospace company reported $1.16 earnings per share 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 company had revenue of $754.50 million for the quarter, compared to the consensus estimate of $695.81 million. During the same quarter last year, the company earned $0.88 earnings per share. The firm's revenue for the quarter was up 15.0% compared to the same quarter last year. On average, sell-side analysts anticipate that AAR Corp. will post 3.77 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on AIR. KeyCorp boosted their price objective on shares of AAR from $80.00 to $86.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Royal Bank Of Canada increased their price target on AAR from $75.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Truist Financial increased their price objective on shares of AAR from $78.00 to $81.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Wall Street Zen upgraded shares of AAR from a "hold" rating to a "buy" rating in a research report on Sunday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AAR currently has an average rating of "Buy" and a consensus target price of $83.75.

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.