Keeley Teton Advisors LLC Trims Holdings in AAR Corp. (NYSE:AIR)

Keeley Teton Advisors LLC lessened its stake in AAR Corp. (NYSE:AIR) by 13.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 22,709 shares of the aerospace company’s stock after selling 3,602 shares during the quarter. Keeley Teton Advisors LLC’s holdings in AAR were worth $1,392,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Invesco Ltd. grew its holdings in AAR by 13.5% during the 4th quarter. Invesco Ltd. now owns 1,070,618 shares of the aerospace company’s stock worth $65,607,000 after acquiring an additional 127,148 shares in the last quarter. Franklin Resources Inc. grew its stake in AAR by 13.4% in the third quarter. Franklin Resources Inc. now owns 969,741 shares of the aerospace company’s stock worth $59,591,000 after purchasing an additional 114,460 shares in the last quarter. Raymond James Financial Inc. bought a new stake in AAR in the fourth quarter valued at about $6,849,000. Norges Bank bought a new stake in AAR in the fourth quarter valued at about $6,321,000. Finally, JPMorgan Chase & Co. raised its stake in AAR by 215.9% during the fourth quarter. JPMorgan Chase & Co. now owns 128,676 shares of the aerospace company’s stock valued at $7,885,000 after buying an additional 87,939 shares in the last quarter. Institutional investors own 90.74% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AIR shares. KeyCorp lowered their price target on AAR from $83.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. StockNews.com cut shares of AAR from a “hold” rating to a “sell” rating in a report on Tuesday, April 8th. Finally, Truist Financial decreased their price target on shares of AAR from $81.00 to $78.00 and set a “buy” rating for the company in a report on Friday, March 28th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.20.

Insider Activity

In related news, CEO John Mcclain Holmes III sold 5,000 shares of AAR stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $70.81, for a total transaction of $354,050.00. Following the sale, the chief executive officer now directly owns 341,680 shares in the company, valued at $24,194,360.80. The trade was a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Christopher A. Jessup sold 33,481 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $70.40, for a total transaction of $2,357,062.40. Following the completion of the sale, the senior vice president now directly owns 63,209 shares of the company’s stock, valued at $4,449,913.60. The trade was a 34.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

AAR Price Performance

Shares of NYSE AIR opened at $53.25 on Wednesday. AAR Corp. has a 1-year low of $46.51 and a 1-year high of $76.34. The firm has a market capitalization of $1.92 billion, a PE ratio of 190.20 and a beta of 1.32. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.68 and a quick ratio of 1.27. The business’s fifty day moving average price is $62.13 and its two-hundred day moving average price is $64.10.

AAR (NYSE:AIR) last released its quarterly earnings data on Thursday, March 27th. The aerospace company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. The business had revenue of $678.20 million for the quarter, compared to analysts’ expectations of $699.13 million. AAR had a net margin of 0.41% and a return on equity of 10.46%. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 EPS. On average, research analysts expect that AAR Corp. will post 3.77 EPS for the current year.

About AAR

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.