Royce & Associates LP Trims Holdings in AAR Corp. (NYSE:AIR)

Key Points

• Royce & Associates LP reduced its holdings in AAR Corp by 11.9%, selling 31,420 shares, and now owns 0.64% valued at approximately $12.98 million.
• AAR Corp reported a 15% year-over-year increase in revenue for the last quarter, totaling $754.5 million, and earnings per share (EPS) of $1.16, surpassing the consensus estimate of $1.00.
• Analysts have updated their price targets for AAR Corp, with estimates ranging from $81.00 to $86.00, indicating a favorable outlook for the stock.

Royce & Associates LP trimmed its stake in shares of AAR Corp. (NYSE:AIR - Free Report) by 11.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 231,760 shares of the aerospace company's stock after selling 31,420 shares during the quarter. Royce & Associates LP owned 0.64% of AAR worth $12,976,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AIR. Harbor Capital Advisors Inc. bought a new position in AAR in the 1st quarter valued at $526,000. Vanguard Group Inc. boosted its stake in AAR by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 3,840,885 shares of the aerospace company's stock valued at $235,369,000 after buying an additional 58,694 shares during the period. GAMMA Investing LLC boosted its stake in AAR by 10,454.2% during the first quarter. GAMMA Investing LLC now owns 63,325 shares of the aerospace company's stock valued at $3,546,000 after buying an additional 62,725 shares during the period. First Trust Advisors LP grew its position in AAR by 60.3% during the fourth quarter. First Trust Advisors LP now owns 26,173 shares of the aerospace company's stock worth $1,604,000 after buying an additional 9,846 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in AAR in the 1st quarter worth about $294,000. Hedge funds and other institutional investors own 90.74% of the company's stock.

AAR Price Performance

Shares of AAR stock opened at $76.44 on Friday. The firm has a market capitalization of $2.74 billion, a PE ratio of 231.63 and a beta of 1.44. The company has a current ratio of 2.72, a quick ratio of 1.26 and a debt-to-equity ratio of 0.80. AAR Corp. has a 12 month low of $46.51 and a 12 month high of $86.43. The business's 50-day moving average price is $69.17 and its 200-day moving average price is $64.68.

AAR (NYSE:AIR - Get Free Report) last issued its earnings results on Wednesday, July 16th. The aerospace company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.16. AAR had a return on equity of 11.66% and a net margin of 0.45%. The business had revenue of $754.50 million during the quarter, compared to analyst estimates of $695.81 million. During the same quarter in the prior year, the firm earned $0.88 earnings per share. AAR's revenue for the quarter was up 15.0% on a year-over-year basis. Sell-side analysts forecast that AAR Corp. will post 3.77 EPS for the current fiscal year.

Insider Buying and Selling at AAR

In related news, CFO Sean M. Gillen sold 18,000 shares of AAR stock in a transaction 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 transaction, the chief financial officer owned 99,868 shares in the company, valued at $7,726,787.16. This trade represents a 15.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jessica A. Garascia sold 3,631 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $77.08, for a total transaction 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. The trade was a 8.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,182 shares of company stock worth $6,614,452 in the last quarter. 4.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Royal Bank Of Canada lifted their price target on AAR from $75.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Truist Financial raised their target price on shares of AAR from $78.00 to $81.00 and gave the company a "buy" rating in a research note on Friday, July 11th. KeyCorp boosted their price target 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, Wall Street Zen cut shares of AAR from a "buy" rating to a "hold" rating in a research report on Saturday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, AAR currently has a consensus rating of "Moderate Buy" and a consensus target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.