Allspring Global Investments Holdings LLC Raises Stock Position in AAR Corp. (NYSE:AIR)

Allspring Global Investments Holdings LLC increased its stake in shares of AAR Corp. (NYSE:AIR - Free Report) by 1,312.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,536 shares of the aerospace company's stock after purchasing an additional 36,737 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.11% of AAR worth $2,467,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. SG Americas Securities LLC bought a new position in AAR during the third quarter worth about $1,254,000. Ziegler Capital Management LLC purchased a new position in AAR in the third quarter worth $839,000. Integrated Investment Consultants LLC boosted its holdings in shares of AAR by 2.4% during the third quarter. Integrated Investment Consultants LLC now owns 9,373 shares of the aerospace company's stock worth $558,000 after purchasing an additional 220 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of AAR by 56.4% during the third quarter. Exchange Traded Concepts LLC now owns 957 shares of the aerospace company's stock worth $57,000 after purchasing an additional 345 shares during the period. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of AAR during the third quarter worth about $109,000. 90.74% of the stock is owned by institutional investors and hedge funds.

AAR Trading Up 3.3 %

AIR stock traded up $2.09 during trading on Monday, reaching $66.21. The company had a trading volume of 592,123 shares, compared to its average volume of 345,250. AAR Corp. has a 52 week low of $50.06 and a 52 week high of $73.95. The company has a market cap of $2.35 billion, a P/E ratio of 38.68 and a beta of 1.67. The business has a 50 day moving average of $63.43 and a 200 day moving average of $63.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.90 and a quick ratio of 1.33.

AAR (NYSE:AIR - Get Free Report) last issued its earnings results on Thursday, March 21st. The aerospace company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.01. AAR had a net margin of 2.73% and a return on equity of 10.17%. As a group, sell-side analysts forecast that AAR Corp. will post 3.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $80.00 target price on shares of AAR in a report on Friday, March 22nd. Benchmark increased their target price on shares of AAR from $65.00 to $83.00 and gave the stock a "buy" rating in a report on Monday, April 15th. Finally, William Blair started coverage on shares of AAR in a research note on Monday, January 29th. They issued an "outperform" rating for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, AAR currently has a consensus rating of "Moderate Buy" and an average price target of $81.25.

Insider Buying and Selling

In related news, CEO John Mcclain Holmes III sold 28,145 shares of the firm's stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $57.96, for a total value of $1,631,284.20. Following the sale, the chief executive officer now owns 303,621 shares in the company, valued at $17,597,873.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Jessica A. Garascia sold 7,352 shares of AAR stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $63.37, for a total transaction of $465,896.24. Following the transaction, the chief accounting officer now owns 28,165 shares in the company, valued at approximately $1,784,816.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Mcclain Holmes III sold 28,145 shares of the firm's stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $57.96, for a total transaction of $1,631,284.20. Following the sale, the chief executive officer now owns 303,621 shares in the company, valued at $17,597,873.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,747 shares of company stock worth $3,858,323. 4.30% of the stock is owned by insiders.

About AAR

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. It operates through Aviation Services and Expeditionary Services segments. The Aviation Services segment engages in lease and sale of new, overhauled and repaired engine, and airframe parts and components, as well as aircrafts; and offers customized flight hour component inventory and repair, warranty claim management, and outsourcing programs for engine and airframe parts and components.