Gamco Investors INC. ET AL Has $19.97 Million Holdings in AAR Corp. $AIR

Gamco Investors INC. ET AL cut its holdings in shares of AAR Corp. (NYSE:AIR) by 2.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 241,215 shares of the aerospace company’s stock after selling 6,212 shares during the quarter. Gamco Investors INC. ET AL’s holdings in AAR were worth $19,970,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Osterweis Capital Management Inc. acquired a new position in shares of AAR during the second quarter worth approximately $26,000. Morse Asset Management Inc bought a new stake in shares of AAR in the 3rd quarter worth approximately $27,000. NBC Securities Inc. bought a new stake in shares of AAR in the 4th quarter worth approximately $28,000. Danske Bank A S bought a new stake in shares of AAR in the 4th quarter worth approximately $28,000. Finally, Optiver Holding B.V. bought a new stake in shares of AAR in the 3rd quarter worth approximately $31,000. 90.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO John Mcclain Holmes III sold 60,000 shares of the stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $112.41, for a total value of $6,744,600.00. Following the completion of the transaction, the chief executive officer directly owned 235,064 shares of the company’s stock, valued at approximately $26,423,544.24. This represents a 20.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.60% of the company’s stock.

AAR Trading Down 0.9%

Shares of AIR opened at $103.61 on Tuesday. AAR Corp. has a 1 year low of $58.83 and a 1 year high of $127.21. The company has a current ratio of 2.70, a quick ratio of 1.23 and a debt-to-equity ratio of 0.54. The stock has a 50 day simple moving average of $111.97 and a 200-day simple moving average of $100.91. The stock has a market cap of $4.12 billion, a PE ratio of 22.97 and a beta of 1.14.

AAR (NYSE:AIR) last issued its earnings results on Tuesday, March 24th. The aerospace company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.04. AAR had a return on equity of 12.39% and a net margin of 5.46%.The business had revenue of $845.10 million during the quarter, compared to analysts’ expectations of $812.58 million. During the same period in the prior year, the firm posted $0.99 EPS. AAR’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, sell-side analysts predict that AAR Corp. will post 4.97 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on AIR shares. KeyCorp raised their price objective on AAR from $120.00 to $132.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Truist Financial upgraded AAR to a “strong-buy” rating in a research report on Friday, May 1st. The Goldman Sachs Group started coverage on AAR in a research report on Monday, January 26th. They issued a “neutral” rating and a $121.00 price objective for the company. Weiss Ratings upgraded AAR from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, March 27th. Finally, Zacks Research downgraded AAR from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, AAR currently has an average rating of “Moderate Buy” and a consensus target price of $131.20.

AAR Company 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.