Royce & Associates LP Reduces Stake in AAR Corp. $AIR

Royce & Associates LP reduced its stake in shares of AAR Corp. (NYSE:AIR) by 7.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 188,420 shares of the aerospace company’s stock after selling 14,180 shares during the period. Royce & Associates LP’s holdings in AAR were worth $16,896,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Optiver Holding B.V. bought a new stake in shares of AAR in the 3rd quarter worth approximately $31,000. Salomon & Ludwin LLC purchased a new stake in AAR in the third quarter worth $30,000. Osterweis Capital Management Inc. purchased a new stake in AAR in the second quarter worth $26,000. Westfuller Advisors LLC bought a new stake in shares of AAR in the third quarter valued at $39,000. Finally, Concord Wealth Partners purchased a new position in shares of AAR during the 3rd quarter valued at $51,000. Hedge funds and other institutional investors own 90.74% of the company’s stock.

Insider Activity

In related news, CFO Sarah Louise Flanagan sold 10,750 shares of AAR stock in a transaction on 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. This trade represents a 24.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jessica A. Garascia sold 4,787 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $95.25, for a total value of $455,961.75. Following the transaction, the chief accounting officer 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 128,984 shares of company stock valued at $12,517,090 over the last 90 days. Company insiders own 3.60% of the company’s stock.

AAR Trading Up 2.2%

Shares of AAR stock opened at $119.75 on Tuesday. AAR Corp. has a 12-month low of $46.51 and a 12-month high of $121.64. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 46.96 and a beta of 1.19. The company has a current ratio of 2.84, a quick ratio of 1.31 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average price is $103.56 and its 200-day moving average price is $88.63.

AAR (NYSE:AIR) last issued its quarterly earnings data on Tuesday, January 6th. The aerospace company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.02 by $0.16. The company had revenue of $795.30 million during the quarter, compared to analysts’ expectations of $760.95 million. AAR had a net margin of 3.17% and a return on equity of 12.40%. AAR’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 earnings per share. On average, equities analysts expect that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AIR has been the subject of several recent research reports. KeyCorp lifted their price objective on AAR from $93.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Wall Street Zen upgraded shares of AAR from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of AAR in a research note on Monday, December 29th. Truist Financial set a $107.00 price target on shares of AAR in a research note on Friday, January 9th. Finally, Royal Bank Of Canada raised their price objective on shares of AAR from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $115.40.

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.