Vanguard Group Inc. Reduces Stock Position in AAR Corp. $AIR

Key Points

• Vanguard Group Inc. has reduced its stake in AAR Corp. by 1.1%, now holding approximately 10.53% of the company, valued at $212.79 million.
• Several institutional investors have increased their positions in AAR, notably GAMMA Investing LLC, which raised its holdings by an impressive 10,454.2%.
• AAR Corp. reported strong quarterly earnings with $1.16 earnings per share, exceeding estimates, and a 15% year-over-year revenue growth to $754.50 million.

Vanguard Group Inc. trimmed its position in AAR Corp. (NYSE:AIR - Free Report) by 1.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,800,510 shares of the aerospace company's stock after selling 40,375 shares during the quarter. Vanguard Group Inc. owned approximately 10.53% of AAR worth $212,791,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new stake in shares of AAR in the 1st quarter valued at approximately $526,000. GAMMA Investing LLC increased its holdings in shares of AAR by 10,454.2% in the 1st quarter. GAMMA Investing LLC now owns 63,325 shares of the aerospace company's stock valued at $3,546,000 after acquiring an additional 62,725 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of AAR in the 1st quarter valued at approximately $294,000. Natixis Advisors LLC increased its holdings in shares of AAR by 57.4% in the 1st quarter. Natixis Advisors LLC now owns 23,591 shares of the aerospace company's stock valued at $1,321,000 after acquiring an additional 8,601 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of AAR by 60.3% in the 4th quarter. First Trust Advisors LP now owns 26,173 shares of the aerospace company's stock valued at $1,604,000 after acquiring an additional 9,846 shares during the last quarter. 90.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

AAR Trading Down 2.6%

Shares of AAR stock opened at $73.7610 on Wednesday. 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 firm has a market cap of $2.65 billion, a price-to-earnings ratio of 223.52 and a beta of 1.53. The business has a fifty day simple moving average of $73.22 and a 200-day simple moving average of $65.31. 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 announced its quarterly earnings data on Wednesday, July 16th. The aerospace company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.16. The business had revenue of $754.50 million during the quarter, compared to analyst estimates of $695.81 million. AAR had a return on equity of 11.66% and a net margin of 0.45%.The company's revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. On average, equities analysts forecast that AAR Corp. will post 3.77 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Jennifer L. Vogel sold 7,000 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $78.07, for a total transaction of $546,490.00. Following the sale, the director directly owned 22,970 shares of the company's stock, valued at $1,793,267.90. The trade was a 23.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jessica A. Garascia sold 3,631 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $77.08, for a total value of $279,877.48. Following the sale, the chief accounting officer directly owned 39,117 shares in the company, valued at $3,015,138.36. This trade represents a 8.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,182 shares of company stock valued at $7,331,452 over the last ninety days. 3.60% of the stock is currently owned by company insiders.

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.

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