Royal Bank of Canada Has $29.01 Million Stock Holdings in AAR Corp. $AIR

Royal Bank of Canada increased its holdings in shares of AAR Corp. (NYSE:AIR - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 518,061 shares of the aerospace company's stock after buying an additional 37,723 shares during the period. Royal Bank of Canada owned about 1.43% of AAR worth $29,007,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hughes Financial Services LLC acquired a new stake in AAR during the 1st quarter worth approximately $28,000. Putney Financial Group LLC acquired a new position in shares of AAR in the 4th quarter worth approximately $30,000. Virtus Fund Advisers LLC bought a new stake in shares of AAR in the 4th quarter valued at $36,000. Virtus Advisers LLC acquired a new stake in shares of AAR during the first quarter worth $47,000. Finally, GAMMA Investing LLC increased its position in shares of 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 buying an additional 531 shares during the period. 90.74% of the stock is currently owned by institutional investors and hedge funds.

AAR Stock Down 1.5%

Shares of AAR stock traded down $1.15 during trading on Friday, reaching $74.17. 161,079 shares of the company traded hands, compared to its average volume of 255,340. 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. The company has a 50 day moving average price of $75.51 and a 200-day moving average price of $66.45. The firm has a market capitalization of $2.67 billion, a PE ratio of 224.77 and a beta of 1.50.

AAR (NYSE:AIR - Get Free Report) last released its 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 company had revenue of $754.50 million for the quarter, compared to the consensus estimate of $695.81 million. During the same quarter in the previous year, the company earned $0.88 EPS. AAR's quarterly revenue was up 15.0% compared to the same quarter last year. As a group, equities research analysts expect that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Insider Activity at AAR

In other AAR news, CFO Sean M. Gillen sold 18,000 shares of the company's stock in a transaction on 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 approximately $7,726,787.16. This represents a 15.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John Mcclain Holmes III sold 31,551 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $78.03, for a total transaction of $2,461,924.53. Following the transaction, the chief executive officer owned 360,921 shares in the company, valued at approximately $28,162,665.63. The trade was a 8.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,182 shares of company stock worth $7,331,452 over the last quarter. 3.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Truist Financial increased their price objective 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. Wall Street Zen upgraded shares of AAR from a "hold" rating to a "buy" rating in a research report on Tuesday, August 19th. KeyCorp increased their price objective on shares of AAR from $80.00 to $86.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Finally, Royal Bank Of Canada increased their price objective on shares of AAR from $75.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $83.75.

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.