Intech Investment Management LLC Sells 44,568 Shares of AAR Corp. $AIR

Intech Investment Management LLC lowered its position in shares of AAR Corp. (NYSE:AIR) by 28.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 111,419 shares of the aerospace company’s stock after selling 44,568 shares during the quarter. Intech Investment Management LLC’s holdings in AAR were worth $9,224,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in AIR. Smartleaf Asset Management LLC increased its stake in AAR by 14.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,036 shares of the aerospace company’s stock worth $91,000 after acquiring an additional 134 shares during the period. Arizona State Retirement System increased its stake in AAR by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 10,683 shares of the aerospace company’s stock worth $958,000 after acquiring an additional 147 shares during the period. CWM LLC increased its stake in AAR by 19.3% during the 4th quarter. CWM LLC now owns 950 shares of the aerospace company’s stock worth $79,000 after acquiring an additional 154 shares during the period. Morse Asset Management Inc bought a new position in AAR during the 3rd quarter worth $27,000. Finally, Danske Bank A S bought a new position in AAR during the 4th quarter worth $28,000. Institutional investors own 90.74% of the company’s stock.

Analyst Upgrades and Downgrades

AIR has been the topic of a number of recent research reports. Truist Financial upgraded AAR to a “strong-buy” rating in a research note on Friday, May 1st. Wall Street Zen lowered AAR from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. KeyCorp raised their price objective on AAR from $120.00 to $132.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Jefferies Financial Group raised their price objective on AAR to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Finally, Zacks Research lowered AAR from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $131.20.

Insider Buying and Selling at AAR

In other AAR news, CEO John Mcclain Holmes III sold 26,175 shares of the firm’s stock in a transaction on Friday, March 27th. The stock was sold at an average price of $107.60, for a total value of $2,816,430.00. Following the sale, the chief executive officer owned 235,064 shares of the company’s stock, valued at approximately $25,292,886.40. This trade represents a 10.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.60% of the company’s stock.

AAR Trading Down 2.2%

Shares of AIR stock opened at $112.42 on Friday. The stock’s fifty day moving average price is $112.46 and its two-hundred day moving average price is $102.41. The company has a market cap of $4.47 billion, a PE ratio of 24.93 and a beta of 1.14. AAR Corp. has a fifty-two week low of $60.60 and a fifty-two week high of $127.21. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.23 and a current ratio of 2.70.

AAR (NYSE:AIR) last issued its earnings results on Tuesday, March 24th. The aerospace company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. The firm had revenue of $845.10 million for the quarter, compared to the consensus estimate of $812.58 million. AAR had a return on equity of 12.39% and a net margin of 5.46%.The company’s revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. Equities analysts predict that AAR Corp. will post 4.97 EPS for the current fiscal year.

About AAR

AAR Corp. (NYSE: AIR) is a global provider of aviation products and services to commercial, government and defense customers. The company offers a comprehensive portfolio of maintenance, repair and overhaul (MRO) solutions, component repair and overhaul, and engineering services designed to support a wide variety of fixed-wing and rotary aircraft. Leveraging FAA and EASA certifications, AAR delivers turnkey maintenance programs and ad hoc repair services that enhance aircraft availability and reliability.

In its Aviation Supply Chain Services segment, AAR sources, stores and distributes parts for both commercial airlines and military operators.