AAR Corp. $AIR Stock Position Raised by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. significantly increased its stake in AAR Corp. by 69,568.8% in Q1, now owning approximately $1.25 million worth of shares.
• AAR has received multiple upgrades from analysts, with an overall average rating of Buy and a target price around $83.75.
• CEO John Mcclain Holmes III sold 10,000 shares for $717,000, representing a 3.24% decrease in his ownership of the stock.

Russell Investments Group Ltd. boosted its position in AAR Corp. (NYSE:AIR - Free Report) by 69,568.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 22,294 shares of the aerospace company's stock after acquiring an additional 22,262 shares during the period. Russell Investments Group Ltd. owned about 0.06% of AAR worth $1,248,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Hughes Financial Services LLC acquired a new position in shares of AAR during the 1st quarter valued at $28,000. Putney Financial Group LLC purchased a new position in AAR in the fourth quarter valued at about $30,000. Virtus Fund Advisers LLC purchased a new position in AAR in the fourth quarter valued at about $36,000. GAMMA Investing LLC raised its position in AAR by 88.5% in the first quarter. GAMMA Investing LLC now owns 1,131 shares of the aerospace company's stock valued at $63,000 after purchasing an additional 531 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in AAR by 11.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,339 shares of the aerospace company's stock valued at $143,000 after purchasing an additional 246 shares during the period. Institutional investors and hedge funds own 90.74% of the company's stock.

AAR Stock Down 0.9%

Shares of AAR stock traded down $0.67 during trading on Wednesday, reaching $75.70. The company had a trading volume of 385,503 shares, compared to its average volume of 331,832. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 229.40 and a beta of 1.50. The firm's fifty day moving average is $74.82 and its 200-day moving average is $65.91. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.26 and a current ratio of 2.72. AAR Corp. has a fifty-two week low of $46.51 and a fifty-two week high of $86.43.

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, beating analysts' consensus estimates of $1.00 by $0.16. The business had revenue of $754.50 million for the quarter, compared to analyst estimates of $695.81 million. AAR had a net margin of 0.45% and a return on equity of 11.66%. The company's revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 EPS. On average, analysts anticipate that AAR Corp. will post 3.77 EPS for the current year.

Insider Activity at AAR

In related news, CAO Jessica A. Garascia sold 3,631 shares of the business'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 completion of the sale, the chief accounting officer owned 39,117 shares of the company's stock, valued at $3,015,138.36. This represents a 8.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sean M. Gillen sold 18,000 shares of the business's stock in a transaction dated 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 sale, the chief financial officer directly owned 99,868 shares of the company's stock, valued at approximately $7,726,787.16. This represents a 15.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,182 shares of company stock worth $7,331,452. Company insiders own 3.60% of the company's stock.

Analysts Set New Price Targets

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

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.