Petrus Trust Company LTA Buys New Position in AAR Corp. $AIR

Key Points

• Petrus Trust Company LTA has acquired a new position in AAR Corp. (NYSE:AIR), purchasing 4,015 shares worth approximately $225,000.
• AAR Corp.'s stock has received several upgrades from analysts, with a consensus rating of "Buy" and an average price target of $83.75.
• Insider trading reports show that CEO John Mcclain Holmes III and CFO Sean M. Gillen sold significant shares recently, indicating a 15.27% decrease in CFO's ownership.

Petrus Trust Company LTA acquired a new position in shares of AAR Corp. (NYSE:AIR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,015 shares of the aerospace company's stock, valued at approximately $225,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of AIR. Bank of America Corp DE grew its position in AAR by 293.3% during the 4th quarter. Bank of America Corp DE now owns 171,203 shares of the aerospace company's stock worth $10,491,000 after purchasing an additional 127,668 shares during the last quarter. Cetera Investment Advisers acquired a new stake in shares of AAR in the 4th quarter worth $341,000. Deutsche Bank AG lifted its stake in shares of AAR by 58.5% in the 4th quarter. Deutsche Bank AG now owns 62,788 shares of the aerospace company's stock worth $3,848,000 after acquiring an additional 23,169 shares during the period. Janus Henderson Group PLC lifted its stake in shares of AAR by 11.3% in the 4th quarter. Janus Henderson Group PLC now owns 389,313 shares of the aerospace company's stock worth $23,858,000 after acquiring an additional 39,505 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of AAR by 5.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,875 shares of the aerospace company's stock worth $1,218,000 after acquiring an additional 999 shares during the period. 90.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on AIR. 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 note 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. KeyCorp boosted their target price on shares of AAR from $80.00 to $86.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Finally, Truist Financial boosted their price objective on shares of 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, Based on data from MarketBeat, AAR currently has an average rating of "Buy" and an average price target of $83.75.

AAR Stock Up 0.7%

AIR traded up $0.53 during trading on Monday, hitting $74.72. The company had a trading volume of 56,048 shares, compared to its average volume of 306,601. The company has a market cap of $2.69 billion, a PE ratio of 226.64 and a beta of 1.50. The business has a 50-day moving average of $75.51 and a 200-day moving average of $66.48. 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 Corp. has a 1-year low of $46.51 and a 1-year high of $86.43.

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, beating the consensus estimate of $1.00 by $0.16. The firm had revenue of $754.50 million for 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%. The firm's quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 earnings per share. As a group, analysts forecast that AAR Corp. will post 3.77 earnings per share for the current year.

Insider Activity

In other news, 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 completion of the transaction, the chief financial officer owned 99,868 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jennifer L. Vogel sold 7,000 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $78.07, for a total transaction 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. This represents a 23.36% 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 ninety days. Insiders own 3.60% of the company's stock.

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.