AAR Corp. $AIR Shares Sold by Rhumbline Advisers

Key Points

• Rhumbline Advisers reduced its stake in AAR Corp by 3.3%, selling 3,809 shares during the first quarter, now owning about 0.31% of the company valued at $6.27 million.
• Several institutional investors increased their positions in AAR Corp, with Westwood Holdings Group raising its stake by 10.3%, while Fred Alger Management saw an increase of 32.6%.
• AAR Corp reported better-than-expected quarterly earnings, with an EPS of $1.16, exceeding analysts' estimates by $0.16, and revenue rising 15.0% year-over-year to $754.5 million.

Rhumbline Advisers reduced its stake in AAR Corp. (NYSE:AIR - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 112,058 shares of the aerospace company's stock after selling 3,809 shares during the period. Rhumbline Advisers owned approximately 0.31% of AAR worth $6,274,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Putney Financial Group LLC purchased a new stake in AAR in the 4th quarter valued at about $30,000. Hughes Financial Services LLC purchased a new stake in AAR during the first quarter worth about $28,000. Virtus Fund Advisers LLC purchased a new stake in AAR during the fourth quarter worth about $36,000. Virtus Advisers LLC purchased a new stake in AAR during the first quarter worth about $47,000. Finally, GAMMA Investing LLC increased its stake in AAR by 88.5% during the first quarter. GAMMA Investing LLC now owns 1,131 shares of the aerospace company's stock worth $63,000 after purchasing an additional 531 shares during the period. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

AAR Stock Up 0.4%

Shares of AIR stock traded up $0.30 during trading hours on Thursday, reaching $75.06. 116,018 shares of the stock were exchanged, compared to its average volume of 308,509. The business's fifty day moving average is $75.70 and its two-hundred day moving average is $66.67. 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 12-month low of $46.51 and a 12-month high of $86.43. The firm has a market capitalization of $2.70 billion, a P/E ratio of 228.11 and a beta of 1.50.

AAR (NYSE:AIR - Get Free Report) last announced 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. The firm had revenue of $754.50 million during the quarter, compared to the consensus estimate of $695.81 million. AAR had a return on equity of 11.66% and a net margin of 0.45%.The firm's quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 earnings per share. As a group, research 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 issued reports on AIR shares. Royal Bank Of Canada boosted their price target 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 research note on Tuesday, August 19th. KeyCorp upped their target price on shares of AAR from $80.00 to $86.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Finally, Truist Financial upped their target price 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, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $83.75.

Insiders Place Their Bets

In related news, Director Jennifer L. Vogel sold 7,000 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $78.07, for a total value of $546,490.00. Following the completion of the transaction, the director directly owned 22,970 shares of the company's stock, valued at $1,793,267.90. This represents a 23.36% decrease in their ownership of the stock. 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 company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $77.37, for a total value of $1,392,660.00. Following the completion of the transaction, the chief financial officer directly owned 99,868 shares of the company's stock, valued at $7,726,787.16. This trade represents a 15.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,182 shares of company stock valued at $7,331,452. 3.60% of the stock is owned by company insiders.

AAR 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.