Intech Investment Management LLC Has $9.22 Million Stock Holdings in AAR Corp. $AIR

Intech Investment Management LLC cut its stake in shares of AAR Corp. (NYSE:AIR) by 28.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 111,419 shares of the aerospace company’s stock after selling 44,568 shares during the period. Intech Investment Management LLC owned 0.28% of AAR worth $9,224,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its position in AAR by 14.9% during the third quarter. Smartleaf Asset Management LLC now owns 1,036 shares of the aerospace company’s stock valued at $91,000 after purchasing an additional 134 shares during the last quarter. Arizona State Retirement System boosted its position in AAR by 1.4% during the third quarter. Arizona State Retirement System now owns 10,683 shares of the aerospace company’s stock valued at $958,000 after purchasing an additional 147 shares during the last quarter. CWM LLC boosted its position in AAR by 19.3% during the fourth quarter. CWM LLC now owns 950 shares of the aerospace company’s stock valued at $79,000 after purchasing an additional 154 shares during the last quarter. Morse Asset Management Inc acquired a new position in AAR during the third quarter valued at approximately $27,000. Finally, Danske Bank A S acquired a new position in AAR during the fourth quarter valued at approximately $28,000. 90.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on AIR. KeyCorp raised their price objective on AAR from $120.00 to $132.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Weiss Ratings raised AAR from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, March 27th. Royal Bank Of Canada raised their price objective on AAR from $105.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, March 25th. Jefferies Financial Group raised their price objective on AAR to $150.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Finally, Truist Financial raised AAR to a “strong-buy” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.20.

AAR Stock Performance

AIR opened at $112.42 on Friday. AAR Corp. has a 12-month low of $60.60 and a 12-month high of $127.21. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 24.93 and a beta of 1.14. The business has a 50 day moving average of $112.46 and a 200-day moving average of $102.41. The company has a quick ratio of 1.23, a current ratio of 2.70 and a debt-to-equity ratio of 0.54.

AAR (NYSE:AIR) last announced its earnings results on Tuesday, March 24th. The aerospace company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.04. The company had revenue of $845.10 million for the quarter, compared to analyst estimates of $812.58 million. AAR had a return on equity of 12.39% and a net margin of 5.46%.The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 earnings per share. On average, equities research analysts expect that AAR Corp. will post 4.97 earnings per share for the current year.

Insider Buying and Selling at AAR

In other news, CEO John Mcclain Holmes III sold 60,000 shares of the stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $112.41, for a total transaction of $6,744,600.00. Following the transaction, the chief executive officer owned 235,064 shares in the company, valued at approximately $26,423,544.24. This trade represents a 20.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.60% of the company’s stock.

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.