Alberta Investment Management Corp Lowers Stock Holdings in AAR Corp. (NYSE:AIR)

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

Several other large investors have also recently made changes to their positions in the business. Summit Investment Advisors Inc. raised its holdings in shares of AAR by 6.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,655 shares of the aerospace company's stock valued at $224,000 after buying an additional 226 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in AAR by 11.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,339 shares of the aerospace company's stock worth $143,000 after purchasing an additional 246 shares during the period. Sheets Smith Wealth Management increased its stake in AAR by 3.8% in the 1st quarter. Sheets Smith Wealth Management now owns 7,281 shares of the aerospace company's stock worth $408,000 after purchasing an additional 266 shares during the period. Bank of Montreal Can increased its stake in AAR by 5.6% in 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. Finally, Rafferty Asset Management LLC increased its stake in AAR by 4.9% in the 4th quarter. Rafferty Asset Management LLC now owns 9,030 shares of the aerospace company's stock worth $553,000 after purchasing an additional 420 shares during the period. 90.74% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AAR news, CFO Sean M. Gillen sold 18,000 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $77.37, for a total transaction of $1,392,660.00. Following the completion of the sale, the chief financial officer directly owned 99,868 shares in the company, valued at approximately $7,726,787.16. The trade was a 15.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jessica A. Garascia sold 3,631 shares of the business's stock in a transaction that occurred 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 transaction, the chief accounting officer owned 39,117 shares in the company, valued at approximately $3,015,138.36. This represents a 8.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,182 shares of company stock worth $6,614,452 in the last 90 days. 4.10% of the stock is currently owned by company insiders.

AAR Stock Performance

Shares of NYSE AIR traded down $1.19 during trading on Tuesday, reaching $72.35. 294,227 shares of the company traded hands, compared to its average volume of 540,368. 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 12-month low of $46.51 and a 12-month high of $86.43. The firm's fifty day simple moving average is $71.07 and its 200 day simple moving average is $64.93. The stock has a market cap of $2.59 billion, a P/E ratio of 219.25 and a beta of 1.53.

AAR (NYSE:AIR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The aerospace company reported $1.16 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $695.81 million. During the same quarter in the previous year, the business earned $0.88 EPS. AAR's revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, research analysts anticipate that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AIR has been the topic of a number of recent analyst reports. Royal Bank Of Canada lifted their price objective on AAR from $75.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. KeyCorp upped 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 research report on Sunday. Finally, Truist Financial raised 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. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average 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.