AAR Corp. (NYSE:AIR) Shares Bought by Texas Permanent School Fund

Texas Permanent School Fund lifted its stake in shares of AAR Corp. (NYSE:AIR – Get Rating) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,193 shares of the aerospace company’s stock after buying an additional 250 shares during the quarter. Texas Permanent School Fund owned approximately 0.07% of AAR worth $867,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. grew its position in shares of AAR by 47.2% during the second quarter. Victory Capital Management Inc. now owns 954,052 shares of the aerospace company’s stock worth $39,918,000 after buying an additional 305,785 shares in the last quarter. Toth Financial Advisory Corp grew its position in shares of AAR by 14.4% during the second quarter. Toth Financial Advisory Corp now owns 19,625 shares of the aerospace company’s stock worth $821,000 after buying an additional 2,475 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of AAR during the third quarter worth approximately $577,000. Oppenheimer Asset Management Inc. grew its position in shares of AAR by 87.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 59,258 shares of the aerospace company’s stock worth $2,479,000 after buying an additional 27,652 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its position in shares of AAR by 7.6% during the second quarter. State of Alaska Department of Revenue now owns 25,022 shares of the aerospace company’s stock worth $1,046,000 after buying an additional 1,770 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AIR shares. TheStreet raised shares of AAR from a “c+” rating to a “b-” rating in a report on Thursday, November 10th. Royal Bank of Canada decreased their price objective on shares of AAR from $54.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, September 23rd. StockNews.com downgraded shares of AAR from a “buy” rating to a “hold” rating in a report on Wednesday, December 21st. Finally, Truist Financial lifted their price objective on shares of AAR from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, January 9th.

Insider Activity at AAR

In related news, CEO John Mcclain Holmes III sold 798 shares of AAR stock in a transaction dated Wednesday, December 28th. The shares were sold at an average price of $44.25, for a total transaction of $35,311.50. Following the sale, the chief executive officer now directly owns 278,611 shares in the company, valued at $12,328,536.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Eric Pachapa sold 20,000 shares of AAR stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $44.60, for a total transaction of $892,000.00. Following the transaction, the chief accounting officer now directly owns 27,416 shares of the company’s stock, valued at $1,222,753.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John Mcclain Holmes III sold 798 shares of AAR stock in a transaction dated Wednesday, December 28th. The stock was sold at an average price of $44.25, for a total value of $35,311.50. Following the transaction, the chief executive officer now directly owns 278,611 shares in the company, valued at $12,328,536.75. The disclosure for this sale can be found here. Insiders have sold a total of 111,692 shares of company stock worth $4,936,783 over the last ninety days. 7.74% of the stock is currently owned by corporate insiders.

AAR Stock Performance

AIR stock opened at $49.25 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.44 and a current ratio of 3.28. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 19.24 and a beta of 1.54. AAR Corp. has a 1 year low of $33.75 and a 1 year high of $52.83. The stock’s fifty day moving average is $45.48 and its two-hundred day moving average is $43.31.

AAR (NYSE:AIR – Get Rating) last posted its earnings results on Tuesday, December 20th. The aerospace company reported $0.69 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.69. The company had revenue of $469.80 million for the quarter, compared to analysts’ expectations of $458.91 million. AAR had a return on equity of 9.19% and a net margin of 4.97%. On average, research analysts predict that AAR Corp. will post 3.03 EPS for the current year.

AAR Company Profile

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AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Aviation Services segment offers aftermarket support and services; inventory management and distribution services; and maintenance, repair, and overhaul, as well as engineering services. This segment also sells and leases new, overhauled, and repaired engine and airframe parts, and components; and provides inventory and repair programs, warranty claim management, and outsourcing programs for engine and airframe parts and components, as well as performance-based supply chain logistics programs in support of the U.S.