Artemis Investment Management LLP Takes Position in AAR Corp. $AIR

Key Points

• Artemis Investment Management LLP opened a new position in AAR by acquiring 14,859 shares (~$1.23M) in Q4, and institutional investors now own about 90.74% of the stock.
• Insiders have been selling: CEO John McClain Holmes III and CFO Sarah Flanagan recently sold shares, and insiders disposed of 106,925 shares (~$11.8M) in the last 90 days, leaving insiders with 3.60% ownership.
• AAR beat Q1 estimates with $1.25 EPS (vs. $1.21 expected) and $845.1M revenue (vs. $812.6M), revenue was up 24.6%, and analysts have lifted targets to yield a consensus “Moderate Buy” with an average target of $131.20.

Artemis Investment Management LLP acquired a new position in AAR Corp. (NYSE:AIR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 14,859 shares of the aerospace company's stock, valued at approximately $1,230,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in AAR by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company's stock worth $1,163,000 after acquiring an additional 904 shares in the last quarter. Millennium Management LLC increased its holdings in shares of AAR by 35.8% during the first quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company's stock valued at $7,557,000 after acquiring an additional 35,608 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of AAR by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,384 shares of the aerospace company's stock valued at $5,453,000 after purchasing an additional 4,288 shares during the last quarter. State Street Corp raised its position in shares of AAR by 10.9% in the 2nd quarter. State Street Corp now owns 1,917,821 shares of the aerospace company's stock valued at $131,927,000 after purchasing an additional 188,406 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in AAR by 4.2% in the 2nd quarter. Sei Investments Co. now owns 265,375 shares of the aerospace company's stock worth $18,255,000 after purchasing an additional 10,725 shares in the last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AAR

In other news, CEO John Mcclain Holmes III sold 26,175 shares of AAR stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $107.60, for a total transaction of $2,816,430.00. Following the completion of the transaction, the chief executive officer directly owned 235,064 shares of the company's stock, valued at $25,292,886.40. The trade was a 10.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sarah Louise Flanagan sold 10,750 shares of the business's stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $108.56, for a total transaction of $1,167,020.00. Following the completion of the transaction, the chief financial officer owned 32,848 shares of the company's stock, valued at approximately $3,565,978.88. This represents a 24.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 106,925 shares of company stock worth $11,812,450. Insiders own 3.60% of the company's stock.

AAR Stock Performance

NYSE AIR opened at $110.35 on Friday. The stock has a 50-day simple moving average of $113.00 and a two-hundred day simple moving average of $98.83. The firm has a market capitalization of $4.39 billion, a P/E ratio of 24.47 and a beta of 1.15. AAR Corp. has a fifty-two week low of $55.53 and a fifty-two week high of $127.21. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.23 and a current ratio of 2.70.

AAR (NYSE:AIR - Get Free Report) last issued its earnings results on Tuesday, March 24th. The aerospace company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.04. The firm had revenue of $845.10 million for the quarter, compared to the consensus estimate of $812.58 million. AAR had a return on equity of 12.39% and a net margin of 5.46%.The company's revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 earnings per share. On average, equities analysts forecast that AAR Corp. will post 4.79 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on AIR shares. KeyCorp upped their price target on shares of AAR from $120.00 to $132.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. Jefferies Financial Group lifted their price objective on shares of AAR to $150.00 and gave the stock a "buy" rating in a research note on Tuesday, March 24th. Royal Bank Of Canada boosted their price objective on shares of AAR from $105.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday, March 25th. Truist Financial raised AAR to a "strong-buy" rating in a research report on Friday. Finally, Zacks Research lowered AAR from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 16th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $131.20.

AAR Company Profile

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.

Want to see what other hedge funds are holding AIR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AAR Corp. (NYSE:AIR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.