Callan Family Office LLC Acquires Shares of 3,480 AAR Corp. $AIR

Key Points

• Callan Family Office LLC acquired 3,480 shares of AAR Corp., valued at approximately $239,000, during Q2.
• Several hedge funds, including GAMMA Investing LLC and Oppenheimer Asset Management Inc., increased their stakes in AAR, indicating growing institutional interest.
• AAR has received multiple analyst upgrades, with key firms raising their price targets, highlighting a consensus rating of Buy and a target price of $89.33.

Callan Family Office LLC bought a new stake in AAR Corp. (NYSE:AIR - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,480 shares of the aerospace company's stock, valued at approximately $239,000.

A number of other hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC grew its stake in AAR by 88.5% in the first quarter. GAMMA Investing LLC now owns 1,131 shares of the aerospace company's stock worth $63,000 after purchasing an additional 531 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in AAR by 10.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 36,171 shares of the aerospace company's stock worth $2,025,000 after buying an additional 3,513 shares during the last quarter. Sheets Smith Wealth Management grew its position in shares of 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 acquiring an additional 266 shares in the last quarter. Peregrine Capital Management LLC increased its holdings in shares of AAR by 3.4% in the 1st quarter. Peregrine Capital Management LLC now owns 146,298 shares of the aerospace company's stock valued at $8,191,000 after acquiring an additional 4,798 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of AAR in the 1st quarter valued at approximately $294,000. Institutional investors and hedge funds own 90.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. KeyCorp boosted their price objective on shares of AAR from $86.00 to $93.00 and gave the company an "overweight" rating in a research report on Monday, September 29th. Wall Street Zen raised AAR from a "hold" rating to a "buy" rating in a report on Sunday, September 28th. Weiss Ratings reissued a "hold (c-)" rating on shares of AAR in a report on Wednesday, October 8th. Truist Financial boosted their price objective on AAR from $81.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $85.00 target price on shares of AAR in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, AAR currently has a consensus rating of "Buy" and a consensus target price of $89.33.

Insider Buying and Selling at AAR

In related news, CEO John Mcclain Holmes III sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $71.70, for a total value of $717,000.00. Following the completion of the sale, the chief executive officer directly owned 298,603 shares in the company, valued at approximately $21,409,835.10. The trade was a 3.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 transaction of $279,877.48. Following the completion of the sale, the chief accounting officer owned 39,117 shares in the company, valued at approximately $3,015,138.36. The trade was a 8.49% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,182 shares of company stock valued at $7,331,452. Company insiders own 3.60% of the company's stock.

AAR Price Performance

Shares of AAR stock opened at $82.80 on Friday. AAR Corp. has a 52 week low of $46.51 and a 52 week high of $89.69. The company has a current ratio of 2.91, a quick ratio of 1.31 and a debt-to-equity ratio of 0.82. The stock has a market cap of $3.24 billion, a PE ratio of 106.16 and a beta of 1.52. The company's 50-day moving average price is $78.20 and its two-hundred day moving average price is $69.06.

AAR (NYSE:AIR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The aerospace company reported $0.83 earnings per share (EPS) for the quarter. AAR had a return on equity of 12.29% and a net margin of 1.01%.The firm had revenue of $553.30 million for the quarter. As a group, sell-side analysts anticipate that AAR Corp. will post 3.77 EPS for the current fiscal 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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