Gamco Investors INC. ET AL Buys 3,450 Shares of AAR Corp. $AIR

Key Points

• Gamco Investors increased its holdings in AAR Corp. by 1.3%, owning 278,407 shares worth approximately $15.6 million.
• AAR Corp. reported earnings per share of $1.16, exceeding analysts' estimates of $1.00 and showing a year-over-year revenue increase of 15.0%.
• AAR Corp. has seen significant interest from institutional investors, with nearly 90.74% of its stock owned by them.

Gamco Investors INC. ET AL lifted its stake in AAR Corp. (NYSE:AIR - Free Report) by 1.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 278,407 shares of the aerospace company's stock after purchasing an additional 3,450 shares during the period. Gamco Investors INC. ET AL owned 0.77% of AAR worth $15,588,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Westwood Holdings Group Inc. raised its stake in AAR by 10.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,589,320 shares of the aerospace company's stock worth $88,986,000 after buying an additional 148,166 shares during the period. Invesco Ltd. raised its stake in AAR by 8.4% during the 1st quarter. Invesco Ltd. now owns 1,160,420 shares of the aerospace company's stock worth $64,972,000 after buying an additional 89,802 shares during the period. Emerald Advisers LLC raised its stake in AAR by 4.2% during the 1st quarter. Emerald Advisers LLC now owns 510,814 shares of the aerospace company's stock worth $28,600,000 after buying an additional 20,654 shares during the period. Royal Bank of Canada raised its stake in AAR by 3.3% during the 4th quarter. Royal Bank of Canada now owns 480,338 shares of the aerospace company's stock worth $29,436,000 after buying an additional 15,318 shares during the period. Finally, Janus Henderson Group PLC raised its stake in AAR by 11.3% during the 4th quarter. Janus Henderson Group PLC now owns 389,313 shares of the aerospace company's stock worth $23,858,000 after buying an additional 39,505 shares during the period. Institutional investors and hedge funds own 90.74% of the company's stock.

Analyst Upgrades and Downgrades

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

AAR Stock Down 0.4%

Shares of AIR traded down $0.32 during midday trading on Monday, hitting $75.50. The stock had a trading volume of 206,261 shares, compared to its average volume of 351,097. The company has a 50 day simple moving average of $74.33 and a two-hundred day simple moving average of $65.69. AAR Corp. has a twelve month low of $46.51 and a twelve month high of $86.43. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 228.78 and a beta of 1.50. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.72 and a quick ratio of 1.26.

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

Insider Buying and Selling

In other news, CFO Sean M. Gillen sold 18,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 99,868 shares in the company, valued at $7,726,787.16. This trade represents a 15.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jennifer L. Vogel sold 7,000 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $78.07, for a total value of $546,490.00. Following the completion of the transaction, the director owned 22,970 shares of the company's stock, valued at $1,793,267.90. The trade was a 23.36% 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 over the last 90 days. 3.60% of the stock is currently owned by insiders.

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.