Insider Selling: AAR (NYSE:AIR) CEO Sells 35,000 Shares of Company Stock

AAR Corp. (NYSE:AIR) CEO John Holmes, III sold 35,000 shares of the firm’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $97.41, for a total transaction of $3,409,350.00. Following the transaction, the chief executive officer owned 406,362 shares of the company’s stock, valued at approximately $39,583,722.42. This represents a 7.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

AAR Price Performance

Shares of AIR stock traded up $1.06 during trading hours on Wednesday, hitting $101.14. The company had a trading volume of 134,005 shares, compared to its average volume of 488,455. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.28 and a current ratio of 2.83. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 20.75 and a beta of 1.13. AAR Corp. has a 12 month low of $76.10 and a 12 month high of $154.00. The firm’s fifty day moving average is $115.04 and its 200 day moving average is $118.33.

AAR (NYSE:AIR) last posted its quarterly earnings data on Monday, September 28th. The aerospace company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.19. The company had revenue of $918.00 million during the quarter, compared to analyst estimates of $878.81 million. AAR had a net margin of 5.55% and a return on equity of 12.99%. The company’s revenue was up 24.1% on a year-over-year basis. During the same quarter last year, the business posted $1.08 earnings per share. On average, sell-side analysts predict that AAR Corp. will post 5.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AIR. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $145.00 price target on shares of AAR in a research note on Monday, September 28th. Zacks Research lowered AAR from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Truist Financial boosted their price objective on AAR from $128.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Guggenheim restated a “neutral” rating on shares of AAR in a research report on Tuesday, September 29th. Finally, Weiss Ratings lowered shares of AAR from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 25th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $140.60.

Institutional Investors Weigh In On AAR

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of AAR during the second quarter worth $925,068,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of AAR in the 2nd quarter valued at $84,251,000. Bank of New York Mellon Corp bought a new stake in shares of AAR in the 2nd quarter valued at $39,024,000. Bank of America Corp DE bought a new stake in shares of AAR in the 2nd quarter valued at $33,649,000. Finally, Artemis Investment Management LLP increased its position in shares of AAR by 1,031.6% in the 3rd quarter. Artemis Investment Management LLP now owns 229,783 shares of the aerospace company’s stock valued at $23,316,000 after buying an additional 209,477 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.

About AAR

AAR Corp. (NYSE: AIR) is a global aviation services company that provides products and support to commercial airlines, government agencies and defense customers. Its offerings include aircraft parts and supply-chain management, component repair and overhaul, airframe maintenance, engineering services, fleet management and expeditionary logistics.

The company operates through businesses that support the maintenance and operation of aircraft throughout their life cycles. AAR distributes aviation parts and manages inventory, performs maintenance, repair and overhaul services for airframes and aircraft components, and provides logistics and aftermarket support for commercial and government fleets.

Founded in 1955, AAR is headquartered in Wood Dale, Illinois, and serves customers across North America and international markets.