AAR Corp. $AIR Shares Purchased by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its stake in AAR Corp. by 122.7%, bringing its total ownership to 52,651 shares valued at approximately $2.95 million.
• AAR Corp. reported earnings per share of $1.16 for the most recent quarter, surpassing analysts’ expectations of $1.00, with revenue also exceeding forecasts at $754.5 million.
• Analysts have given AAR a consensus rating of "Buy" with a price target averaging $83.75, reflecting positive sentiment towards the company’s growth potential.

Intech Investment Management LLC increased its holdings in shares of AAR Corp. (NYSE:AIR - Free Report) by 122.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,651 shares of the aerospace company's stock after purchasing an additional 29,005 shares during the period. Intech Investment Management LLC owned 0.15% of AAR worth $2,948,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Putney Financial Group LLC purchased a new stake in AAR during the fourth quarter worth about $30,000. Hughes Financial Services LLC acquired a new stake in shares of AAR during the 1st quarter worth about $28,000. Virtus Fund Advisers LLC acquired a new stake in shares of AAR during the 4th quarter worth about $36,000. Virtus Advisers LLC acquired a new stake in shares of AAR in the first quarter worth approximately $47,000. Finally, GAMMA Investing LLC boosted its position in shares of AAR by 88.5% in the first quarter. GAMMA Investing LLC now owns 1,131 shares of the aerospace company's stock worth $63,000 after acquiring an additional 531 shares during the last quarter. Hedge funds and other institutional investors own 90.74% of the company's stock.

Analysts Set New Price Targets

AIR has been the topic of several research analyst reports. Royal Bank Of Canada raised their target price on shares of AAR from $75.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Wall Street Zen upgraded shares of AAR from a "hold" rating to a "buy" rating in a report on Tuesday, August 19th. Truist Financial raised their price target 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 raised their price target 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 equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, AAR has an average rating of "Buy" and an average target price of $83.75.

AAR Stock Performance

Shares of AAR stock traded down $0.58 during trading hours on Friday, reaching $75.36. The company's stock had a trading volume of 851,378 shares, compared to its average volume of 270,609. The company's 50 day simple moving average is $75.75 and its 200 day simple moving average is $66.85. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.26 and a current ratio of 2.72. AAR Corp. has a one year low of $46.51 and a one year high of $86.43. The stock has a market cap of $2.71 billion, a P/E ratio of 228.36 and a beta of 1.50.

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

Insider Activity

In related news, CEO John Mcclain Holmes III sold 10,000 shares of AAR stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $71.70, for a total value of $717,000.00. Following the sale, the chief executive officer directly owned 298,603 shares in the company, valued at $21,409,835.10. This trade represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sean M. Gillen sold 18,000 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $77.37, for a total transaction of $1,392,660.00. Following the transaction, the chief financial officer directly owned 99,868 shares in the company, 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. In the last quarter, insiders have sold 95,182 shares of company stock valued at $7,331,452. 3.60% of the stock is owned by company 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.