Sit Investment Associates Inc. Invests $356,000 in AAR Corp. $AIR

Sit Investment Associates Inc. acquired a new stake in shares of AAR Corp. (NYSE:AIR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,300 shares of the aerospace company’s stock, valued at approximately $356,000.

Several other institutional investors and hedge funds have also modified their holdings of AIR. McMillan Office Inc. acquired a new stake in AAR during the 4th quarter worth approximately $25,000. Morse Asset Management Inc acquired a new position in shares of AAR in the third quarter valued at approximately $27,000. Danske Bank A S acquired a new position in shares of AAR in the fourth quarter valued at approximately $28,000. Optiver Holding B.V. bought a new stake in shares of AAR during the third quarter worth $31,000. Finally, NBC Securities Inc. bought a new stake in shares of AAR during the fourth quarter worth $28,000. 90.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AAR

In related news, CEO John Mcclain Holmes III sold 60,000 shares of AAR stock in a transaction dated 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 sale, the chief executive officer owned 235,064 shares of the company’s stock, valued at approximately $26,423,544.24. The trade was a 20.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.60% of the stock is owned by insiders.

AAR Stock Performance

Shares of AIR opened at $135.35 on Friday. AAR Corp. has a 12 month low of $66.75 and a 12 month high of $135.48. The firm has a fifty day simple moving average of $116.18 and a 200 day simple moving average of $106.77. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 30.01 and a beta of 1.13. The company has a current ratio of 2.70, a quick ratio of 1.23 and a debt-to-equity ratio of 0.54.

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

Wall Street Analyst Weigh In

Several research firms recently commented on AIR. Weiss Ratings raised shares of AAR from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 15th. Truist Financial upgraded AAR to a “strong-buy” rating in a report on Friday, May 1st. KeyCorp lifted their price target on AAR from $120.00 to $132.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Jefferies Financial Group boosted their price target on AAR to $150.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Finally, Zacks Research cut AAR from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $131.20.

AAR 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.