Royce & Associates LP Cuts Stock Holdings in AAR Corp. $AIR

Royce & Associates LP trimmed its stake in shares of AAR Corp. (NYSE:AIR) by 6.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 177,180 shares of the aerospace company’s stock after selling 11,240 shares during the period. Royce & Associates LP’s holdings in AAR were worth $14,669,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AIR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in AAR by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company’s stock valued at $1,163,000 after acquiring an additional 904 shares in the last quarter. Millennium Management LLC grew its stake in AAR by 35.8% during the first quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company’s stock valued at $7,557,000 after acquiring an additional 35,608 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake 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 valued at $5,453,000 after acquiring an additional 4,288 shares in the last quarter. State Street Corp grew its stake in AAR by 10.9% during the second quarter. State Street Corp now owns 1,917,821 shares of the aerospace company’s stock valued at $131,927,000 after acquiring an additional 188,406 shares in the last quarter. Finally, Sei Investments Co. grew its stake in AAR by 4.2% during the second quarter. Sei Investments Co. now owns 265,375 shares of the aerospace company’s stock valued at $18,255,000 after acquiring an additional 10,725 shares in the last quarter. 90.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AIR has been the subject of several research analyst reports. Wall Street Zen cut shares of AAR from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. KeyCorp raised their target price on shares of 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 increased their price objective on shares of AAR to $150.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Truist Financial upgraded shares of AAR to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Royal Bank Of Canada increased their price objective on shares of AAR from $105.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, March 25th. 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 stock. According to data from MarketBeat, AAR has an average rating of “Moderate Buy” and a consensus target price of $131.20.

AAR Price Performance

AIR stock opened at $112.54 on Wednesday. AAR Corp. has a 52 week low of $60.21 and a 52 week high of $127.21. The company has a quick ratio of 1.23, a current ratio of 2.70 and a debt-to-equity ratio of 0.54. The company has a fifty day simple moving average of $112.12 and a two-hundred day simple moving average of $101.90. The firm has a market capitalization of $4.48 billion, a P/E ratio of 24.95 and a beta of 1.14.

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

Insider Activity

In other news, CEO John Mcclain Holmes III sold 26,175 shares of the firm’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $107.60, for a total value of $2,816,430.00. Following the completion of the sale, the chief executive officer owned 235,064 shares in the company, valued at approximately $25,292,886.40. This trade represents a 10.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.60% of the company’s stock.

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.