Charles Schwab Investment Management Inc. Sells 6,068 Shares of AAR Corp. $AIR

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. trimmed its position in AAR Corp. (NYSE:AIR - Free Report) by 1.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 532,057 shares of the aerospace company's stock after selling 6,068 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.47% of AAR worth $29,790,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Putney Financial Group LLC purchased a new stake in AAR in the 4th quarter worth approximately $30,000. Hughes Financial Services LLC purchased a new stake in AAR in the 1st quarter worth approximately $28,000. Virtus Fund Advisers LLC purchased a new stake in AAR in the 4th quarter worth approximately $36,000. Sterling Capital Management LLC grew its holdings in AAR by 761.2% during the 4th quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company's stock valued at $54,000 after buying an additional 784 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in AAR by 88.5% during the 1st quarter. GAMMA Investing LLC now owns 1,131 shares of the aerospace company's stock valued at $63,000 after buying an additional 531 shares in the last quarter. 90.74% of the stock is owned by hedge funds and other institutional investors.

AAR Price Performance

Shares of NYSE AIR traded down $0.80 during midday trading on Monday, reaching $75.02. 235,845 shares of the stock traded hands, compared to its average volume of 378,373. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.72 and a quick ratio of 1.26. The stock has a market capitalization of $2.70 billion, a PE ratio of 227.34 and a beta of 1.53. AAR Corp. has a one year low of $46.51 and a one year high of $86.43. The company's 50 day moving average is $73.64 and its 200 day moving average is $65.47.

AAR (NYSE:AIR - Get Free Report) last posted its earnings results on Wednesday, July 16th. The aerospace company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.16. The firm had revenue of $754.50 million during the quarter, compared to the consensus estimate of $695.81 million. AAR had a return on equity of 11.66% and a net margin of 0.45%.The company's quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 EPS. On average, equities research analysts anticipate that AAR Corp. will post 3.77 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Transactions at AAR

In other news, CFO Sean M. Gillen sold 18,000 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $77.37, for a total transaction of $1,392,660.00. Following the completion of the transaction, the chief financial officer directly owned 99,868 shares in the company, valued at approximately $7,726,787.16. This represents a 15.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jessica A. Garascia sold 3,631 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $77.08, for a total value of $279,877.48. Following the transaction, the chief accounting officer owned 39,117 shares of the company's stock, valued at $3,015,138.36. This represents a 8.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 95,182 shares of company stock valued at $7,331,452 over the last quarter. 3.60% of the stock is owned by insiders.

AAR 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.