AAR Corp. $AIR Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in AAR Corp. by 1.1% during the first quarter, holding 532,057 shares valued at approximately $29.79 million at the end of the period.
• AAR Corp. reported a 15% increase in revenue year-over-year, reaching $754.5 million for the quarter, and exceeded analysts' EPS expectations by $0.16.
• Several institutional investors made significant changes to their holdings in AAR, with 90.74% of the company's stock now owned by institutions.

Charles Schwab Investment Management Inc. cut its stake in shares of AAR Corp. (NYSE:AIR - Free Report) by 1.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 532,057 shares of the aerospace company's stock after selling 6,068 shares during the period. Charles Schwab Investment Management Inc. owned about 1.47% of AAR worth $29,790,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Putney Financial Group LLC acquired a new position in AAR during the fourth quarter worth $30,000. Hughes Financial Services LLC acquired a new position in AAR during the first quarter worth $28,000. Virtus Fund Advisers LLC acquired a new position in AAR during the fourth quarter worth $36,000. Sterling Capital Management LLC raised its position in AAR by 761.2% during the fourth quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company's stock worth $54,000 after acquiring an additional 784 shares during the period. Finally, GAMMA Investing LLC raised its position in AAR by 88.5% during the first quarter. GAMMA Investing LLC now owns 1,131 shares of the aerospace company's stock worth $63,000 after acquiring an additional 531 shares during the period. 90.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Jennifer L. Vogel sold 7,000 shares of AAR stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $78.07, for a total transaction of $546,490.00. Following the sale, the director owned 22,970 shares of the company's stock, valued at approximately $1,793,267.90. The trade was a 23.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sean M. Gillen sold 18,000 shares of AAR stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $77.37, for a total transaction of $1,392,660.00. Following 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 disclosure for this sale can be found here. Insiders sold a total of 95,182 shares of company stock worth $7,331,452 in the last 90 days. 3.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AIR shares. Royal Bank Of Canada lifted their target price on shares of AAR from $75.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Truist Financial lifted their target price on shares of AAR from $78.00 to $81.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Wall Street Zen raised shares of AAR from a "hold" rating to a "buy" rating in a research note on Tuesday, August 19th. Finally, KeyCorp lifted their target price on shares of AAR from $80.00 to $86.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $83.75.

AAR Trading Up 0.2%

Shares of AIR traded up $0.13 during midday trading on Monday, reaching $75.95. The company had a trading volume of 11,331 shares, compared to its average volume of 311,746. AAR Corp. has a 1-year low of $46.51 and a 1-year high of $86.43. The stock has a market cap of $2.73 billion, a PE ratio of 229.96 and a beta of 1.53. The firm has a 50 day simple moving average of $73.50 and a 200-day simple moving average of $65.41. The company has a quick ratio of 1.26, a current ratio of 2.72 and a debt-to-equity ratio of 0.80.

AAR (NYSE:AIR - Get Free Report) last issued its earnings results on Wednesday, July 16th. The aerospace company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.16. AAR had a return on equity of 11.66% and a net margin of 0.45%.The business had revenue of $754.50 million during the quarter, compared to the consensus estimate of $695.81 million. During the same period last year, the company earned $0.88 EPS. The company's revenue for the quarter was up 15.0% on a year-over-year basis. Research analysts forecast that AAR Corp. will post 3.77 EPS for the current fiscal year.

About AAR

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.