AAR Corp. (NYSE:AIR) CEO John Mcclain Holmes III Sells 31,551 Shares

AAR Corp. (NYSE:AIR) CEO John Mcclain Holmes III sold 31,551 shares of the business’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $78.03, for a total value of $2,461,924.53. Following the sale, the chief executive officer directly owned 360,921 shares of the company’s stock, valued at $28,162,665.63. This represents a 8.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

John Mcclain Holmes III also recently made the following trade(s):

• On Wednesday, July 23rd, John Mcclain Holmes III sold 25,000 shares of AAR stock. The stock was sold at an average price of $77.34, for a total transaction of $1,933,500.00.

AAR Stock Down 1.4%

AAR stock opened at $76.44 on Friday. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 231.63 and a beta of 1.44. The company’s 50 day simple moving average is $69.17 and its 200 day simple moving average is $64.68. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.72 and a quick ratio of 1.26. AAR Corp. has a fifty-two week low of $46.51 and a fifty-two week high of $86.43.

AAR (NYSE:AIR) last posted its earnings results on Wednesday, July 16th. The aerospace company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16. AAR had a net margin of 0.45% and a return on equity of 11.66%. The company had revenue of $754.50 million for the quarter, compared to analyst estimates of $695.81 million. During the same period last year, the business posted $0.88 earnings per share. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that AAR Corp. will post 3.77 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AIR. Truist Financial increased their price objective on shares of AAR from $78.00 to $81.00 and gave the company a “buy” rating in a report on Friday, July 11th. Royal Bank Of Canada upped their target price on shares of AAR from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, July 17th. KeyCorp increased their price target on AAR from $80.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Finally, Wall Street Zen cut AAR from a “buy” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AAR has a consensus rating of “Moderate Buy” and a consensus target price of $83.75.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AIR. Putney Financial Group LLC bought a new stake in shares of AAR in the fourth quarter worth about $30,000. Hughes Financial Services LLC bought a new position in shares of AAR during the 1st quarter valued at about $28,000. Virtus Fund Advisers LLC acquired a new position in shares of AAR in the 4th quarter valued at approximately $36,000. Virtus Advisers LLC bought a new stake in AAR during the 1st quarter worth approximately $47,000. Finally, Sterling Capital Management LLC increased its stake in AAR by 761.2% during the 4th quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company’s stock worth $54,000 after purchasing an additional 784 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors.

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.