Insider Selling: AAR Corp. (NYSE:AIR) SVP Sells $1,048,858.65 in Stock

AAR Corp. (NYSE:AIR) SVP Christopher A. Jessup sold 14,973 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $70.05, for a total value of $1,048,858.65. Following the sale, the senior vice president now directly owns 51,803 shares in the company, valued at approximately $3,628,800.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

AAR Stock Up 1.3 %

AIR stock opened at $71.95 on Thursday. The business has a 50-day moving average of $64.19 and a 200-day moving average of $64.01. AAR Corp. has a fifty-two week low of $50.06 and a fifty-two week high of $73.95. The stock has a market capitalization of $2.55 billion, a P/E ratio of 42.32 and a beta of 1.60. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.90 and a quick ratio of 1.33.

AAR (NYSE:AIR) last issued its quarterly earnings results on Thursday, March 21st. The aerospace company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. The company had revenue of $567.30 million during the quarter, compared to analysts’ expectations of $567.63 million. AAR had a net margin of 2.73% and a return on equity of 10.17%. On average, sell-side analysts anticipate that AAR Corp. will post 3.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. William Blair started coverage on AAR in a research report on Monday, January 29th. They set an “outperform” rating on the stock. Royal Bank of Canada restated an “outperform” rating and set a $80.00 target price on shares of AAR in a report on Friday, March 22nd. Finally, Benchmark upped their price target on shares of AAR from $65.00 to $83.00 and gave the company a “buy” rating in a report on Monday, April 15th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AAR has an average rating of “Moderate Buy” and a consensus target price of $81.25.

Institutional Investors Weigh In On AAR

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC grew its holdings in shares of AAR by 36.9% in the 3rd quarter. First Eagle Investment Management LLC now owns 190,928 shares of the aerospace company’s stock valued at $11,366,000 after acquiring an additional 51,438 shares in the last quarter. Loomis Sayles & Co. L P increased its position in shares of AAR by 11.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 680,241 shares of the aerospace company’s stock worth $40,494,000 after purchasing an additional 71,272 shares during the last quarter. Gotham Asset Management LLC raised its stake in shares of AAR by 20.4% during the 3rd quarter. Gotham Asset Management LLC now owns 5,867 shares of the aerospace company’s stock worth $349,000 after purchasing an additional 996 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new stake in shares of AAR in the 3rd quarter valued at approximately $1,190,000. Finally, Qube Research & Technologies Ltd grew its stake in shares of AAR by 39.0% in the third quarter. Qube Research & Technologies Ltd now owns 40,800 shares of the aerospace company’s stock valued at $2,429,000 after buying an additional 11,445 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.

AAR Company Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. It operates through Aviation Services and Expeditionary Services segments. The Aviation Services segment engages in lease and sale of new, overhauled and repaired engine, and airframe parts and components, as well as aircrafts; and offers customized flight hour component inventory and repair, warranty claim management, and outsourcing programs for engine and airframe parts and components.