Insider Selling: AAR (NYSE:AIR) CEO Sells 38,462 Shares of Stock

AAR Corp. (NYSE:AIR) CEO John Mcclain Holmes III sold 38,462 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $83.50, for a total transaction of $3,211,577.00. Following the transaction, the chief executive officer owned 260,141 shares in the company, valued at $21,721,773.50. This represents a 12.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

AAR Stock Down 1.5%

NYSE:AIR traded down $1.27 during trading hours on Thursday, reaching $82.33. The company’s stock had a trading volume of 296,062 shares, compared to its average volume of 360,740. AAR Corp. has a one year low of $46.51 and a one year high of $89.69. The business’s 50-day moving average is $80.69 and its 200-day moving average is $72.38. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.91 and a quick ratio of 1.31. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 105.55 and a beta of 1.53.

AAR (NYSE:AIR) last announced its quarterly earnings results on Wednesday, May 28th. The aerospace company reported $0.83 earnings per share for the quarter. The company had revenue of $553.30 million during the quarter. AAR had a return on equity of 12.29% and a net margin of 1.01%. Equities research analysts predict that AAR Corp. will post 3.77 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Truist Financial increased their target price on shares of AAR from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of AAR in a research report on Wednesday, October 8th. Royal Bank Of Canada reiterated an “outperform” rating and set a $85.00 price target on shares of AAR in a research note on Wednesday, September 24th. Wall Street Zen raised shares of AAR from a “hold” rating to a “buy” rating in a report on Sunday. Finally, KeyCorp raised their price objective on shares of AAR from $86.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.33.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its stake in AAR by 14.9% in 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 in the last quarter. Sheets Smith Wealth Management raised its stake in AAR by 1.9% during the 2nd quarter. Sheets Smith Wealth Management now owns 7,416 shares of the aerospace company’s stock worth $510,000 after buying an additional 135 shares during the period. Arizona State Retirement System lifted its holdings in AAR by 1.4% during the third quarter. Arizona State Retirement System now owns 10,683 shares of the aerospace company’s stock worth $958,000 after acquiring an additional 147 shares in the last quarter. Amalgamated Bank lifted its holdings in AAR by 1.7% during the third quarter. Amalgamated Bank now owns 10,243 shares of the aerospace company’s stock worth $918,000 after acquiring an additional 175 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in AAR by 4.4% during the second quarter. Teacher Retirement System of Texas now owns 5,482 shares of the aerospace company’s stock worth $377,000 after acquiring an additional 231 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

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.