Janney Montgomery Scott LLC Acquires Shares of 3,465 AAR Corp. $AIR

Key Points

• Janney Montgomery Scott LLC acquired 3,465 shares of AAR Corp. (NYSE:AIR) valued at around $238,000 in the second quarter, reflecting growing interest from institutional investors in the aerospace sector.
• Insider selling includes CAO Jessica A. Garascia and CFO Sean M. Gillen, who sold a combined total of $1.67 million worth of shares, leading to notable decreases in their ownership stakes.
• AAR Corp. has received increased positive outlooks from analysts, with several raising their price targets, indicating a consensus price target of $89.33 amid robust performance expectations.

Janney Montgomery Scott LLC acquired a new stake in shares of AAR Corp. (NYSE:AIR - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 3,465 shares of the aerospace company's stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AIR. GAMMA Investing LLC grew its position 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 worth $63,000 after buying an additional 531 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of AAR by 10.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 36,171 shares of the aerospace company's stock worth $2,025,000 after buying an additional 3,513 shares during the period. Sheets Smith Wealth Management grew its position 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 worth $408,000 after buying an additional 266 shares during the period. Peregrine Capital Management LLC grew its position in shares of AAR by 3.4% in the 1st quarter. Peregrine Capital Management LLC now owns 146,298 shares of the aerospace company's stock worth $8,191,000 after buying an additional 4,798 shares during the period. Finally, Teacher Retirement System of Texas purchased a new stake in shares of AAR in the 1st quarter worth about $294,000. 90.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AAR

In other AAR news, CAO Jessica A. Garascia sold 3,631 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $77.08, for a total transaction of $279,877.48. Following the transaction, the chief accounting officer owned 39,117 shares in the company, valued at approximately $3,015,138.36. This represents a 8.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sean M. Gillen sold 18,000 shares of the company'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 owned 99,868 shares in the company, valued at $7,726,787.16. This represents a 15.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,182 shares of company stock worth $7,331,452 over the last quarter. 3.60% of the stock is currently owned by insiders.

AAR Stock Performance

Shares of AIR stock opened at $84.16 on Tuesday. AAR Corp. has a one year low of $46.51 and a one year high of $89.69. The company's 50-day moving average is $78.54 and its 200 day moving average is $69.67. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 107.90 and a beta of 1.52. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.31 and a current ratio of 2.91.

AAR (NYSE:AIR - Get Free Report) last posted its earnings results on Wednesday, May 28th. The aerospace company reported $0.83 earnings per share (EPS) for the quarter. The business had revenue of $553.30 million for the quarter. AAR had a net margin of 1.01% and a return on equity of 12.29%. Sell-side analysts expect that AAR Corp. will post 3.77 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Truist Financial upped their target price on shares of AAR from $81.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Wall Street Zen raised shares of AAR from a "hold" rating to a "buy" rating in a research report on Sunday, September 28th. Zacks Research raised shares of AAR from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 30th. Royal Bank Of Canada reissued an "outperform" rating and set a $85.00 price objective on shares of AAR in a research report on Wednesday, September 24th. Finally, KeyCorp increased their price objective on shares of AAR from $86.00 to $93.00 and gave the company an "overweight" rating in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $89.33.

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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