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 trimmed its position in AAR Corp. (NYSE:AIR - Free Report) by 23.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 38,907 shares of the aerospace company's stock after selling 11,753 shares during the period. Great Lakes Advisors LLC owned 0.11% of AAR worth $2,178,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Sheets Smith Wealth Management lifted its stake in shares of AAR by 3.8% in the 1st quarter. Sheets Smith Wealth Management now owns 7,281 shares of the aerospace company's stock valued at $408,000 after acquiring an additional 266 shares during the last quarter. Rafferty Asset Management LLC lifted its stake in shares of AAR by 4.9% in the 4th quarter. Rafferty Asset Management LLC now owns 9,030 shares of the aerospace company's stock valued at $553,000 after acquiring an additional 420 shares during the last quarter. Putney Financial Group LLC bought a new position in shares of AAR in the 4th quarter valued at $30,000. Hughes Financial Services LLC bought a new position in shares of AAR in the 1st quarter valued at $28,000. Finally, GAMMA Investing LLC lifted its stake in shares of 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 during the last quarter. 90.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling

In other AAR news, CFO Sean M. Gillen sold 18,000 shares of the stock in a transaction 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 sale, the chief financial officer owned 99,868 shares in the company, valued at $7,726,787.16. This represents a 15.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John Mcclain Holmes III sold 10,000 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $71.70, for a total value of $717,000.00. Following the sale, the chief executive officer owned 298,603 shares in the company, valued at approximately $21,409,835.10. This represents a 3.24% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,182 shares of company stock worth $7,331,452. Insiders own 3.60% of the company's stock.

AAR Stock Performance

Shares of NYSE AIR traded up $0.86 during midday trading on Tuesday, reaching $75.29. The company's stock had a trading volume of 93,681 shares, compared to its average volume of 307,074. AAR Corp. has a 12-month low of $46.51 and a 12-month high of $86.43. 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 firm has a 50 day moving average price of $75.59 and a 200-day moving average price of $66.55. The stock has a market capitalization of $2.71 billion, a P/E ratio of 228.16 and a beta of 1.50.

AAR (NYSE:AIR - Get Free Report) last posted 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. AAR had a return on equity of 11.66% and a net margin of 0.45%.The business had revenue of $754.50 million for the quarter, compared to the consensus estimate of $695.81 million. During the same quarter in the prior year, the business earned $0.88 earnings per share. AAR's revenue for the quarter was up 15.0% on a year-over-year basis. As a group, equities analysts predict that AAR Corp. will post 3.77 earnings per share for the current 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.