Connor Clark & Lunn Investment Management Ltd. Buys Shares of 3,740 AAR Corp. $AIR

Key Points

• Connor Clark & Lunn Investment Management Ltd. purchased 3,740 shares of AAR Corp., valued at approximately $209,000, indicating growing interest from institutional investors.
• Wall Street analysts have raised their ratings and price targets for AAR Corp., with the average target now at $83.75 and multiple firms assigning it a "buy" rating.
• Recent insider trading activity includes significant sales by executives, with CAO Jessica A. Garascia and CFO Sean M. Gillen selling shares valued at $279,877 and $1.39 million respectively.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in AAR Corp. (NYSE:AIR - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 3,740 shares of the aerospace company's stock, valued at approximately $209,000.

Other institutional investors also recently bought and sold shares of the company. Hughes Financial Services LLC acquired a new position in AAR in the 1st quarter valued at about $28,000. Putney Financial Group LLC acquired a new position in AAR in the 4th quarter valued at about $30,000. Virtus Fund Advisers LLC acquired a new position in AAR in the 4th quarter valued at about $36,000. Sterling Capital Management LLC grew its position in AAR by 761.2% in the 4th quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company's stock valued at $54,000 after acquiring an additional 784 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in AAR by 88.5% in the 1st quarter. GAMMA Investing LLC now owns 1,131 shares of the aerospace company's stock valued at $63,000 after acquiring an additional 531 shares in the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, CAO Jessica A. Garascia sold 3,631 shares of the business's stock in a transaction that occurred 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 $3,015,138.36. The trade was a 8.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sean M. Gillen sold 18,000 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $77.37, for a total value of $1,392,660.00. Following the sale, the chief financial officer owned 99,868 shares of the company's stock, 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 have sold 95,182 shares of company stock worth $7,331,452 in the last three months. 3.60% of the stock is owned by company insiders.

AAR Price Performance

AIR stock opened at $71.8590 on Thursday. The business has a 50 day moving average price of $73.29 and a 200 day moving average price of $65.36. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 217.76 and a beta of 1.53. AAR Corp. has a fifty-two week low of $46.51 and a fifty-two week high of $86.43. 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 posted its earnings results on Wednesday, July 16th. The aerospace company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16. The firm had revenue of $754.50 million during the quarter, compared to analysts' expectations of $695.81 million. AAR had a return on equity of 11.66% and a net margin of 0.45%.The firm's revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 earnings per share. Equities research analysts anticipate that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.