Lord Abbett & CO. LLC Sells 488,216 Shares of AAR Corp. (NYSE:AIR)

Lord Abbett & CO. LLC cut its stake in AAR Corp. (NYSE:AIR) by 88.2% in the first quarter, Holdings Channel reports. The institutional investor owned 65,324 shares of the aerospace company’s stock after selling 488,216 shares during the period. Lord Abbett & CO. LLC’s holdings in AAR were worth $3,911,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC bought a new stake in AAR in the fourth quarter worth $27,000. Geneos Wealth Management Inc. bought a new stake in shares of AAR during the first quarter worth $63,000. Psagot Value Holdings Ltd. Israel lifted its position in shares of AAR by 737.1% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 1,105 shares of the aerospace company’s stock worth $69,000 after purchasing an additional 973 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of AAR by 124.6% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,251 shares of the aerospace company’s stock worth $77,000 after purchasing an additional 694 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in shares of AAR during the first quarter worth $147,000. 90.74% of the stock is currently owned by institutional investors.

Insider Activity at AAR

In other AAR news, SVP Christopher A. Jessup sold 15,929 shares of AAR stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $70.09, for a total value of $1,116,463.61. Following the transaction, the senior vice president now owns 51,803 shares in the company, valued at $3,630,872.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other AAR news, CAO Eric Pachapa sold 5,121 shares of AAR stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $70.96, for a total value of $363,386.16. Following the transaction, the chief accounting officer now owns 25,015 shares in the company, valued at $1,775,064.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Christopher A. Jessup sold 15,929 shares of AAR stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $70.09, for a total value of $1,116,463.61. Following the completion of the transaction, the senior vice president now owns 51,803 shares in the company, valued at approximately $3,630,872.27. The disclosure for this sale can be found here. Insiders sold 36,023 shares of company stock worth $2,528,708 over the last three months. 4.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Royal Bank of Canada lifted their target price on AAR from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday. Benchmark lifted their target price on AAR from $65.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Finally, Stifel Nicolaus decreased their target price on AAR from $86.00 to $85.00 and set a “buy” rating for the company in a research report on Friday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AAR has an average rating of “Moderate Buy” and an average price target of $83.50.

AAR Stock Down 12.1 %

Shares of AIR stock traded down $8.87 on Friday, hitting $64.42. The stock had a trading volume of 1,116,058 shares, compared to its average volume of 312,674. The company has a quick ratio of 1.33, a current ratio of 2.90 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average price of $70.90 and a 200 day moving average price of $65.84. The company has a market cap of $2.28 billion, a PE ratio of 38.62 and a beta of 1.54. AAR Corp. has a one year low of $55.00 and a one year high of $76.34.

AAR (NYSE:AIR) last released its quarterly earnings data on Thursday, July 18th. The aerospace company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.02. The firm had revenue of $656.50 million during the quarter, compared to the consensus estimate of $660.05 million. AAR had a return on equity of 10.17% and a net margin of 2.73%. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 earnings per share. Research analysts anticipate that AAR Corp. will post 3.3 earnings per share for the current fiscal year.

AAR 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.