Legato Capital Management LLC Acquires New Position in AAR Corp. $AIR

Legato Capital Management LLC bought a new position in shares of AAR Corp. (NYSE:AIR) during the third quarter, HoldingsChannel.com reports. The firm bought 10,972 shares of the aerospace company’s stock, valued at approximately $984,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of AAR by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company’s stock worth $1,163,000 after purchasing an additional 904 shares during the period. Millennium Management LLC increased its stake in AAR by 35.8% in the first quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company’s stock valued at $7,557,000 after purchasing an additional 35,608 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in AAR by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,384 shares of the aerospace company’s stock worth $5,453,000 after buying an additional 4,288 shares during the period. Envestnet Asset Management Inc. boosted its stake in AAR by 1.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 126,316 shares of the aerospace company’s stock worth $8,689,000 after buying an additional 1,732 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in AAR by 4.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 5,482 shares of the aerospace company’s stock valued at $377,000 after buying an additional 231 shares during the period. 90.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on AIR. The Goldman Sachs Group assumed coverage on shares of AAR in a report on Monday, January 26th. They set a “neutral” rating and a $121.00 price objective on the stock. Royal Bank Of Canada increased their price target on shares of AAR from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Wall Street Zen upgraded shares of AAR from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Jefferies Financial Group upped their price objective on AAR to $135.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Finally, KeyCorp lifted their target price on AAR from $93.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.40.

AAR Price Performance

AAR stock opened at $116.99 on Wednesday. The firm has a fifty day moving average of $104.19 and a 200-day moving average of $88.92. AAR Corp. has a 52-week low of $46.51 and a 52-week high of $121.64. The company has a quick ratio of 1.31, a current ratio of 2.84 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $4.63 billion, a P/E ratio of 45.88 and a beta of 1.19.

AAR (NYSE:AIR) last announced its quarterly earnings results on Tuesday, January 6th. The aerospace company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. AAR had a net margin of 3.17% and a return on equity of 12.40%. The firm had revenue of $795.30 million during the quarter, compared to analysts’ expectations of $760.95 million. During the same period in the prior year, the company earned $0.90 EPS. The firm’s revenue was up 15.9% on a year-over-year basis. As a group, analysts predict that AAR Corp. will post 3.77 EPS for the current year.

Insider Buying and Selling

In related news, CAO Jessica A. Garascia sold 4,787 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $95.25, for a total transaction of $455,961.75. Following the transaction, the chief accounting officer directly owned 29,557 shares of the company’s stock, valued at approximately $2,815,304.25. The trade was a 13.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Sarah Louise Flanagan sold 10,750 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $108.56, for a total value of $1,167,020.00. Following the completion of the transaction, the chief financial officer owned 32,848 shares of the company’s stock, valued at approximately $3,565,978.88. This represents a 24.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 128,984 shares of company stock worth $12,517,090 over the last three months. 3.60% of the stock is currently owned by corporate insiders.

About AAR

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.