AAR Corp. (NYSE:AIR) Stock Holdings Reduced by Sheets Smith Wealth Management

Sheets Smith Wealth Management lowered its position in AAR Corp. (NYSE:AIR) by 5.3% during the first quarter, HoldingsChannel.com reports. The firm owned 6,795 shares of the aerospace company’s stock after selling 381 shares during the quarter. Sheets Smith Wealth Management’s holdings in AAR were worth $407,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. ProShare Advisors LLC grew its stake in AAR by 7.3% in the first quarter. ProShare Advisors LLC now owns 6,808 shares of the aerospace company’s stock valued at $408,000 after purchasing an additional 461 shares in the last quarter. Sei Investments Co. grew its stake in AAR by 730.8% in the first quarter. Sei Investments Co. now owns 97,552 shares of the aerospace company’s stock valued at $5,840,000 after purchasing an additional 85,810 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in AAR in the first quarter valued at about $544,000. Swiss National Bank grew its stake in AAR by 6.1% in the first quarter. Swiss National Bank now owns 70,100 shares of the aerospace company’s stock valued at $4,197,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Geneos Wealth Management Inc. purchased a new position in AAR in the first quarter valued at about $63,000. Hedge funds and other institutional investors own 90.74% of the company’s stock.

AAR Stock Performance

NYSE:AIR traded down $1.33 during mid-day trading on Wednesday, hitting $74.21. 295,725 shares of the company’s stock traded hands, compared to its average volume of 306,490. The firm has a 50 day moving average of $70.83 and a two-hundred day moving average of $65.73. AAR Corp. has a 12 month low of $55.00 and a 12 month high of $76.34. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 44.18 and a beta of 1.54. The company has a current ratio of 2.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.24.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AIR shares. Stifel Nicolaus boosted their target price on AAR from $81.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $80.00 price target on shares of AAR in a research note on Friday, May 24th. Finally, Benchmark upped their price target on AAR from $65.00 to $83.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, AAR presently has an average rating of “Moderate Buy” and a consensus target price of $82.50.

Insider Activity at AAR

In related news, SVP Christopher A. Jessup sold 14,973 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $70.05, for a total transaction of $1,048,858.65. Following the completion of the sale, the senior vice president now owns 51,803 shares in the company, valued at approximately $3,628,800.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Christopher A. Jessup sold 14,973 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $70.05, for a total transaction of $1,048,858.65. Following the completion of the sale, the senior vice president now owns 51,803 shares in the company, valued at approximately $3,628,800.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Eric Pachapa sold 5,121 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $70.96, for a total value of $363,386.16. Following the completion of the transaction, the chief accounting officer now directly owns 25,015 shares of the company’s stock, valued at approximately $1,775,064.40. The disclosure for this sale can be found here. Insiders sold a total of 36,023 shares of company stock worth $2,528,708 in the last 90 days. 4.30% of the stock is owned by company insiders.

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.