Great Lakes Advisors LLC Sells 11,753 Shares of AAR Corp. $AIR

Key Points

• Great Lakes Advisors LLC reduced its AAR Corp. holdings by 23.2% in Q1, selling 11,753 shares and now owns approximately 0.11% of the company worth $2.18 million.
• Several analysts have raised their price targets for AAR Corp., with KeyCorp increasing it to $86.00 and Royal Bank of Canada to $85.00, reflecting a positive outlook for the stock.
• AAR Corp. reported strong earnings, with a quarterly EPS of $1.16, surpassing expectations and indicating a 15% increase in revenue year-over-year.

Great Lakes Advisors LLC cut its holdings in shares of AAR Corp. (NYSE:AIR - Free Report) by 23.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,907 shares of the aerospace company's stock after selling 11,753 shares during the period. Great Lakes Advisors LLC owned approximately 0.11% of AAR worth $2,178,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Hughes Financial Services LLC bought a new stake in AAR during the 1st quarter worth approximately $28,000. Putney Financial Group LLC purchased a new position in shares of AAR during the fourth quarter valued at approximately $30,000. Virtus Fund Advisers LLC bought a new stake in AAR during the fourth quarter worth $36,000. Virtus Advisers LLC purchased a new stake in AAR in the 1st quarter valued at $47,000. Finally, GAMMA Investing LLC raised 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 buying an additional 531 shares during the last quarter. Institutional investors own 90.74% of the company's stock.

Analyst Ratings Changes

AIR has been the subject of several recent analyst reports. KeyCorp upped 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. Royal Bank Of Canada boosted their price target on shares of AAR from $75.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Wall Street Zen upgraded shares of AAR from a "hold" rating to a "buy" rating in a research note on Tuesday, August 19th. Finally, Truist Financial increased their price target on AAR from $78.00 to $81.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $83.75.

AAR Trading Up 0.1%

Shares of AAR stock opened at $74.00 on Thursday. The company's 50-day moving average price is $75.38 and its 200-day moving average price is $66.29. The company has a current ratio of 2.72, a quick ratio of 1.26 and a debt-to-equity ratio of 0.80. AAR Corp. has a 12-month low of $46.51 and a 12-month high of $86.43. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 224.25 and a beta of 1.50.

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

Insider Activity

In other news, CAO Jessica A. Garascia sold 3,631 shares of the company's stock in a transaction 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 approximately $3,015,138.36. This represents a 8.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jennifer L. Vogel sold 7,000 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $78.07, for a total value of $546,490.00. Following the completion of the sale, the director owned 22,970 shares in the company, valued at $1,793,267.90. This trade represents 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 valued at $7,331,452 over the last 90 days. Company insiders own 3.60% of the company's stock.

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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