Rhumbline Advisers Has $6.27 Million Stock Holdings in AAR Corp. $AIR

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AIR. Westwood Holdings Group Inc. lifted its holdings in AAR by 10.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,589,320 shares of the aerospace company's stock worth $88,986,000 after purchasing an additional 148,166 shares during the last quarter. Fred Alger Management LLC increased its position in AAR by 32.6% in the 1st quarter. Fred Alger Management LLC now owns 533,770 shares of the aerospace company's stock worth $29,886,000 after buying an additional 131,092 shares during the period. Bank of America Corp DE increased its position in AAR by 293.3% in the 4th quarter. Bank of America Corp DE now owns 171,203 shares of the aerospace company's stock worth $10,491,000 after buying an additional 127,668 shares during the period. Nuveen LLC bought a new position in AAR in the 1st quarter worth approximately $6,226,000. Finally, Invesco Ltd. increased its position in AAR by 8.4% in the 1st quarter. Invesco Ltd. now owns 1,160,420 shares of the aerospace company's stock worth $64,972,000 after buying an additional 89,802 shares during the period. 90.74% of the stock is currently owned by institutional investors and hedge funds.

AAR Stock Up 1.9%

Shares of NYSE:AIR traded up $1.40 during mid-day trading on Tuesday, reaching $75.83. 424,469 shares of the stock were exchanged, compared to its average volume of 309,073. The company has a quick ratio of 1.26, a current ratio of 2.72 and a debt-to-equity ratio of 0.80. The company has a market cap of $2.73 billion, a P/E ratio of 229.79 and a beta of 1.50. AAR Corp. has a one year low of $46.51 and a one year high of $86.43. The stock's 50 day simple moving average is $75.59 and its 200-day simple moving average is $66.55.

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 for the quarter, beating analysts' consensus estimates of $1.00 by $0.16. AAR had a return on equity of 11.66% and a net margin of 0.45%.The firm had revenue of $754.50 million during the quarter, compared to the consensus estimate of $695.81 million. During the same period last year, the company earned $0.88 earnings per share. The business's revenue was up 15.0% compared to the same quarter last year. As a group, equities research analysts predict that AAR Corp. will post 3.77 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Jessica A. Garascia sold 3,631 shares of AAR stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $77.08, for a total transaction of $279,877.48. Following the completion of the sale, the chief accounting officer directly owned 39,117 shares of the company's stock, valued at approximately $3,015,138.36. This trade represents a 8.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John Mcclain Holmes III sold 10,000 shares of AAR stock in a transaction that occurred on Thursday, August 7th. The stock was 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 of the company's stock, valued at approximately $21,409,835.10. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 95,182 shares of company stock valued at $7,331,452. Corporate insiders own 3.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Truist Financial boosted their price objective on AAR from $78.00 to $81.00 and gave the company a "buy" rating in a research report on Friday, July 11th. KeyCorp lifted their price objective on AAR from $80.00 to $86.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Royal Bank Of Canada lifted their price target on shares of AAR from $75.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Finally, Wall Street Zen upgraded shares of AAR from a "hold" rating to a "buy" rating in a research note on Tuesday, August 19th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, AAR has a consensus rating of "Buy" and an average price target of $83.75.

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.