Canal Insurance CO Has $6.62 Million Holdings in AAR Corp. $AIR

Key Points

• Canal Insurance Co. trimmed its stake in AAR Corp. (NYSE:AIR) by 15.8% in Q4, selling 15,000 shares and ending the quarter with 80,000 shares worth about $6.62 million (≈0.20% of AAR; Canal’s 22nd largest holding).
• Institutional ownership is high at roughly 90.74%, with major managers (Vanguard, State Street, Wellington, Franklin, American Century) increasing positions, and analysts showing a generally positive view — consensus rating "Moderate Buy" and a target of $131.20 after multiple upgrades.
• Insider activity: CEO John McClain Holmes III sold 60,000 shares for about $6.74 million, a ~20.3% reduction in his holding; corporate insiders now own ~3.60% of the stock.

Canal Insurance CO cut its holdings in shares of AAR Corp. (NYSE:AIR - Free Report) by 15.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,000 shares of the aerospace company's stock after selling 15,000 shares during the period. AAR accounts for approximately 1.6% of Canal Insurance CO's holdings, making the stock its 22nd biggest holding. Canal Insurance CO owned about 0.20% of AAR worth $6,623,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AIR. Vanguard Group Inc. raised its position in shares of AAR by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company's stock valued at $336,229,000 after acquiring an additional 281,871 shares during the period. 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 acquiring an additional 188,406 shares during the period. Wellington Management Group LLP raised its position in shares of AAR by 144.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,486,775 shares of the aerospace company's stock valued at $133,319,000 after acquiring an additional 878,188 shares during the period. Franklin Resources Inc. raised its position in shares of AAR by 36.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company's stock valued at $107,752,000 after acquiring an additional 311,258 shares during the period. Finally, American Century Companies Inc. raised its position in shares of AAR by 2.6% in the 3rd quarter. American Century Companies Inc. now owns 781,333 shares of the aerospace company's stock valued at $70,062,000 after acquiring an additional 19,463 shares during the period. 90.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on AIR. Jefferies Financial Group increased their price target on shares of AAR to $150.00 and gave the company a "buy" rating in a research report on Tuesday, March 24th. The Goldman Sachs Group began coverage on shares of AAR in a research report on Monday, January 26th. They issued a "neutral" rating and a $121.00 price target on the stock. Royal Bank Of Canada increased their price target on shares of AAR from $105.00 to $125.00 and gave the company an "outperform" rating in a research report on Wednesday, March 25th. Weiss Ratings upgraded shares of AAR from a "hold (c+)" rating to a "buy (b)" rating in a research report on Friday, March 27th. Finally, Truist Financial upgraded shares of AAR to a "strong-buy" rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $131.20.

Insider Buying and Selling at AAR

In other news, CEO John Mcclain Holmes III sold 60,000 shares of the firm's stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of $112.41, for a total transaction of $6,744,600.00. Following the completion of the transaction, the chief executive officer directly owned 235,064 shares of the company's stock, valued at $26,423,544.24. This trade represents a 20.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.60% of the stock is owned by corporate insiders.

AAR Price Performance

NYSE AIR opened at $117.39 on Friday. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 26.03 and a beta of 1.14. AAR Corp. has a 52-week low of $58.43 and a 52-week high of $127.21. The business has a 50 day simple moving average of $112.92 and a 200 day simple moving average of $99.64. 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 quarterly earnings results on Tuesday, March 24th. The aerospace company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.04. The company had revenue of $845.10 million during the quarter, compared to analysts' expectations of $812.58 million. AAR had a net margin of 5.46% and a return on equity of 12.39%. The business's quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the business earned $0.99 EPS. Analysts anticipate that AAR Corp. will post 4.95 earnings per share for the current fiscal year.

AAR 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.

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