Teachers Retirement System of The State of Kentucky Acquires 19,551 Shares of AAR Corp. $AIR

Key Points

• Teachers Retirement System of Kentucky boosted its stake in AAR Corp. by 196.1% in Q4, buying 19,551 shares to hold 29,521 shares worth about $2.44 million (≈0.07% of the company).
• Company insiders have been net sellers recently: the CFO sold 10,750 shares at $108.56 and the CEO sold 26,175 shares at $107.60, with insiders disposing of 106,925 shares (~$11.8M) in the past three months (insiders now own 3.60%).
• AAR beat quarterly estimates, reporting $1.25 EPS vs $1.21 expected and revenue of $845.1M (up 24.6% YoY), while analysts hold a consensus "Moderate Buy" rating with an average target around $131.20.

Teachers Retirement System of The State of Kentucky grew its holdings in AAR Corp. (NYSE:AIR - Free Report) by 196.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,521 shares of the aerospace company's stock after purchasing an additional 19,551 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.07% of AAR worth $2,444,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AIR. Wellington Management Group LLP increased its holdings in shares of AAR by 144.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,486,775 shares of the aerospace company's stock worth $133,319,000 after purchasing an additional 878,188 shares in the last quarter. UBS Group AG increased its holdings in shares of AAR by 709.2% in the 3rd quarter. UBS Group AG now owns 488,239 shares of the aerospace company's stock worth $43,780,000 after purchasing an additional 427,906 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of AAR by 36.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company's stock worth $107,752,000 after purchasing an additional 311,258 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of AAR by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company's stock worth $336,229,000 after purchasing an additional 281,871 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of AAR by 10.9% in the 2nd quarter. State Street Corp now owns 1,917,821 shares of the aerospace company's stock worth $131,927,000 after purchasing an additional 188,406 shares in the last quarter. Institutional investors own 90.74% of the company's stock.

Insider Activity

In other AAR news, CFO Sarah Louise Flanagan sold 10,750 shares of the business's stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $108.56, for a total transaction of $1,167,020.00. Following the completion of the sale, the chief financial officer owned 32,848 shares of the company's stock, valued at approximately $3,565,978.88. The trade was a 24.66% decrease in their ownership of the stock. 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 26,175 shares of the business's stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $107.60, for a total value of $2,816,430.00. Following the sale, the chief executive officer directly owned 235,064 shares of the company's stock, valued at $25,292,886.40. This represents a 10.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 106,925 shares of company stock valued at $11,812,450 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

AAR Stock Performance

Shares of AIR opened at $108.91 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.70 and a quick ratio of 1.23. AAR Corp. has a one year low of $52.49 and a one year high of $127.21. The firm has a market capitalization of $4.33 billion, a P/E ratio of 24.15 and a beta of 1.20. The business has a fifty day moving average of $113.28 and a 200 day moving average of $98.58.

AAR (NYSE:AIR - Get Free Report) last issued its quarterly earnings data on Tuesday, March 24th. The aerospace company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.21 by $0.04. AAR had a return on equity of 12.39% and a net margin of 5.46%.The company had revenue of $845.10 million during the quarter, compared to analyst estimates of $812.58 million. During the same quarter in the previous year, the company posted $0.99 earnings per share. AAR's revenue was up 24.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that AAR Corp. will post 4.95 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on AIR. Truist Financial reissued a "buy" rating and issued a $128.00 target price (up from $107.00) on shares of AAR in a report on Friday, March 6th. Wall Street Zen raised AAR from a "buy" rating to a "strong-buy" rating in a report on Saturday. Weiss Ratings raised AAR from a "hold (c+)" rating to a "buy (b)" rating in a report on Friday, March 27th. KeyCorp lifted their price objective on AAR from $120.00 to $132.00 and gave the stock an "overweight" rating in a report on Thursday, April 9th. Finally, The Goldman Sachs Group started coverage on AAR in a report on Monday, January 26th. They issued a "neutral" rating and a $121.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, AAR presently has an average rating of "Moderate Buy" and an average target price of $131.20.

AAR Profile

AAR Corp. NYSE: AIR is a global provider of aviation products and services to commercial, government and defense customers. The company offers a comprehensive portfolio of maintenance, repair and overhaul (MRO) solutions, component repair and overhaul, and engineering services designed to support a wide variety of fixed-wing and rotary aircraft. Leveraging FAA and EASA certifications, AAR delivers turnkey maintenance programs and ad hoc repair services that enhance aircraft availability and reliability.

In its Aviation Supply Chain Services segment, AAR sources, stores and distributes parts for both commercial airlines and military operators.

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