AAR Corp. (NYSE:AIR) Shares Sold by Phocas Financial Corp.

Key Points

• Phocas Financial Corp. has reduced its holdings in AAR Corp. by 5.5%, now owning 127,347 shares valued at approximately $7.13 million.
• Several institutional investors, including Summit Investment Advisors and Tower Research Capital, have increased their stakes in AAR Corp. during the last quarter, showcasing interest in the aerospace company's stock.
• Analysts have raised their target prices for AAR Corp., with Royal Bank of Canada setting a new target at $85, reflecting a positive outlook on the company's performance and a consensus rating of "Buy."

Phocas Financial Corp. lessened its holdings in shares of AAR Corp. (NYSE:AIR - Free Report) by 5.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 127,347 shares of the aerospace company's stock after selling 7,353 shares during the period. Phocas Financial Corp. owned 0.35% of AAR worth $7,130,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. boosted its stake in AAR by 6.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,655 shares of the aerospace company's stock valued at $224,000 after acquiring an additional 226 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in AAR by 11.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,339 shares of the aerospace company's stock valued at $143,000 after buying an additional 246 shares during the last quarter. Sheets Smith Wealth Management boosted its holdings in 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 purchasing an additional 266 shares during the period. Bank of Montreal Can lifted its holdings in shares of AAR by 5.6% during the 4th quarter. Bank of Montreal Can now owns 7,387 shares of the aerospace company's stock worth $453,000 after acquiring an additional 390 shares during the period. Finally, Rafferty Asset Management LLC lifted its stake in 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 purchasing an additional 420 shares during the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AIR. Royal Bank Of Canada raised 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. KeyCorp upped their target price on shares of AAR from $80.00 to $86.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Wall Street Zen raised shares of AAR from a "hold" rating to a "buy" rating in a report on Sunday. Finally, Truist Financial raised their target price on shares of AAR from $78.00 to $81.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, AAR currently has an average rating of "Buy" and a consensus target price of $83.75.

AAR Stock Down 0.2%

Shares of AIR stock traded down $0.15 during mid-day trading on Thursday, hitting $71.93. 66,519 shares of the stock traded hands, compared to its average volume of 304,317. The stock has a market cap of $2.58 billion, a P/E ratio of 217.52 and a beta of 1.53. 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 stock's fifty day moving average is $71.26 and its two-hundred day moving average is $64.97. AAR Corp. has a 52-week low of $46.51 and a 52-week high of $86.43.

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

Insider Buying and Selling at AAR

In other AAR news, CAO Jessica A. Garascia sold 3,631 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $77.08, for a total value of $279,877.48. Following the sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sean M. Gillen sold 18,000 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $77.37, for a total value of $1,392,660.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,182 shares of company stock valued at $6,614,452 over the last three months. 4.10% of the stock is currently 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.