AAR Corp. $AIR Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC lessened its stake in shares of AAR Corp. (NYSE:AIR) by 62.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 52,870 shares of the aerospace company’s stock after selling 86,845 shares during the quarter. First Eagle Investment Management LLC’s holdings in AAR were worth $3,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of AIR. Hughes Financial Services LLC acquired a new position in AAR in the 1st quarter valued at $28,000. Virtus Advisers LLC acquired a new stake in shares of AAR in the 1st quarter worth $47,000. State of Wyoming boosted 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 valued at $102,000 after acquiring an additional 1,024 shares in the last quarter. Simplex Trading LLC purchased a new stake in shares of AAR in the second quarter valued at about $103,000. Finally, Vontobel Holding Ltd. acquired a new position in shares of AAR during the second quarter worth about $202,000. 90.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on AIR shares. KeyCorp raised their price objective on shares of AAR from $86.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Truist Financial increased their target price on AAR from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Wall Street Zen upgraded AAR from a “hold” rating to a “buy” rating in a research note on Sunday, November 2nd. Zacks Research lowered AAR from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of AAR in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, AAR has an average rating of “Moderate Buy” and a consensus price target of $89.33.

Insider Transactions at AAR

In other AAR news, CEO John Mcclain Holmes III sold 38,462 shares of AAR stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 260,141 shares in the company, valued at approximately $21,721,773.50. The trade was a 12.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.60% of the company’s stock.

AAR Stock Up 0.3%

AIR opened at $82.46 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.31 and a current ratio of 2.91. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 105.71 and a beta of 1.53. AAR Corp. has a one year low of $46.51 and a one year high of $89.69. The business’s fifty day moving average is $80.96 and its two-hundred day moving average is $72.82.

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

AAR Company Profile

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.