Canal Insurance CO Raises Stock Holdings in AAR Corp. $AIR

Key Points

• Canal Insurance CO increased its stake in AAR Corp. by 31.9% in the second quarter, acquiring an additional 23,000 shares, bringing its total ownership to 95,000 shares.
• AAR Corp. has recently seen positive ratings from analysts, with KeyCorp raising the price objective from $86.00 to $93.00 and multiple firms upgrading their ratings to "buy" or "strong-buy."
• CEO John Mcclain Holmes III sold 10,000 shares of AAR's stock, resulting in a 3.24% decrease in his total ownership.

Canal Insurance CO boosted its stake in shares of AAR Corp. (NYSE:AIR - Free Report) by 31.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,000 shares of the aerospace company's stock after purchasing an additional 23,000 shares during the quarter. AAR comprises 1.5% of Canal Insurance CO's holdings, making the stock its 23rd largest holding. Canal Insurance CO owned 0.26% of AAR worth $6,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in AIR. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of AAR in the 1st quarter valued at about $209,000. Raymond James Financial Inc. raised its stake in shares of AAR by 41.8% during the 1st quarter. Raymond James Financial Inc. now owns 158,461 shares of the aerospace company's stock worth $8,872,000 after acquiring an additional 46,696 shares in the last quarter. Russell Investments Group Ltd. lifted its position in AAR by 69,568.8% during the first quarter. Russell Investments Group Ltd. now owns 22,294 shares of the aerospace company's stock valued at $1,248,000 after acquiring an additional 22,262 shares during the last quarter. Natixis Advisors LLC boosted its stake in AAR by 57.4% in the first quarter. Natixis Advisors LLC now owns 23,591 shares of the aerospace company's stock valued at $1,321,000 after acquiring an additional 8,601 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in AAR in the first quarter worth $294,000. 90.74% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO John Mcclain Holmes III sold 10,000 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $71.70, for a total value of $717,000.00. Following the sale, the chief executive officer owned 298,603 shares in the company, valued at $21,409,835.10. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. KeyCorp increased their price objective on AAR from $86.00 to $93.00 and gave the company an "overweight" rating in a report on Monday, September 29th. Wall Street Zen raised AAR from a "hold" rating to a "buy" rating in a research report on Sunday, September 28th. Zacks Research raised AAR from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 30th. Weiss Ratings restated a "hold (c-)" rating on shares of AAR in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $85.00 price objective on shares of AAR in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $89.33.

AAR Stock Down 4.1%

NYSE:AIR opened at $81.29 on Thursday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.91 and a quick ratio of 1.31. The company's fifty day moving average price is $78.73 and its 200-day moving average price is $69.86. AAR Corp. has a 1-year low of $46.51 and a 1-year high of $89.69. The firm has a market capitalization of $3.18 billion, a P/E ratio of 104.21 and a beta of 1.52.

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