Texas Permanent School Fund Corp Sells 17,281 Shares of AAR Corp. $AIR

Texas Permanent School Fund Corp cut its stake in shares of AAR Corp. (NYSE:AIR) by 43.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,192 shares of the aerospace company’s stock after selling 17,281 shares during the period. Texas Permanent School Fund Corp owned 0.06% of AAR worth $1,527,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Osterweis Capital Management Inc. bought a new stake in AAR during the 2nd quarter worth approximately $26,000. Virtus Advisers LLC purchased a new position in shares of AAR during the 1st quarter valued at $47,000. Simplex Trading LLC bought a new position in shares of AAR in the second quarter worth $103,000. State of Wyoming increased its holdings in shares of AAR by 128.5% in the first quarter. State of Wyoming now owns 1,821 shares of the aerospace company’s stock worth $102,000 after purchasing an additional 1,024 shares during the period. Finally, Vontobel Holding Ltd. purchased a new position in AAR during the second quarter worth about $202,000. 90.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Royal Bank Of Canada lifted their price target on AAR from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, November 26th. Zacks Research lowered shares of AAR from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Jefferies Financial Group assumed coverage on shares of AAR in a research note on Wednesday, December 17th. They issued a “buy” rating and a $100.00 price target for the company. Wall Street Zen cut shares of AAR from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Truist Financial lifted their price objective on shares of AAR from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.25.

Insiders Place Their Bets

In related news, CEO John Mcclain Holmes III sold 38,462 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $83.50, for a total transaction of $3,211,577.00. Following the completion of the sale, the chief executive officer directly owned 260,141 shares in the company, valued at $21,721,773.50. This represents a 12.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.60% of the stock is owned by corporate insiders.

AAR Price Performance

Shares of AAR stock opened at $86.18 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.31 and a current ratio of 2.91. AAR Corp. has a 52-week low of $46.51 and a 52-week high of $89.69. The company has a fifty day moving average of $82.59 and a 200-day moving average of $77.78. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 110.49 and a beta of 1.29.

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

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.