AAR Corp. (NYSE:AIR) Shares Sold by Citigroup Inc.

Citigroup Inc. decreased its position in AAR Corp. (NYSE:AIR – Get Rating) by 3.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,590 shares of the aerospace company’s stock after selling 1,585 shares during the quarter. Citigroup Inc. owned 0.15% of AAR worth $2,271,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in AAR by 4.9% during the 1st quarter. Bank of New York Mellon Corp now owns 417,741 shares of the aerospace company’s stock valued at $20,231,000 after purchasing an additional 19,617 shares during the period. Bank of Montreal Can boosted its position in AAR by 8.0% during the 1st quarter. Bank of Montreal Can now owns 18,177 shares of the aerospace company’s stock valued at $890,000 after purchasing an additional 1,345 shares during the period. MetLife Investment Management LLC boosted its position in AAR by 56.7% during the 1st quarter. MetLife Investment Management LLC now owns 18,230 shares of the aerospace company’s stock valued at $883,000 after purchasing an additional 6,595 shares during the period. Rhumbline Advisers boosted its position in AAR by 4.6% during the 1st quarter. Rhumbline Advisers now owns 110,106 shares of the aerospace company’s stock valued at $5,332,000 after purchasing an additional 4,874 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in AAR by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,743 shares of the aerospace company’s stock valued at $1,392,000 after acquiring an additional 3,542 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on AIR shares. StockNews.com started coverage on AAR in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Benchmark lifted their target price on AAR from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, March 22nd. Truist Financial lifted their target price on AAR from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, March 22nd. Finally, Royal Bank of Canada lifted their target price on AAR from $55.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, March 22nd. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AAR presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.67.

Insider Activity

In other news, Director Jennifer L. Vogel sold 7,000 shares of the company’s stock in a transaction on Monday, March 27th. The stock was sold at an average price of $54.89, for a total value of $384,230.00. Following the completion of the sale, the director now owns 23,445 shares in the company, valued at $1,286,896.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Jennifer L. Vogel sold 7,000 shares of the company’s stock in a transaction on Monday, March 27th. The stock was sold at an average price of $54.89, for a total transaction of $384,230.00. Following the completion of the sale, the director now directly owns 23,445 shares of the company’s stock, valued at $1,286,896.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Christopher A. Jessup sold 11,959 shares of the company’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of $55.02, for a total value of $657,984.18. Following the sale, the vice president now directly owns 44,691 shares of the company’s stock, valued at $2,458,898.82. The disclosure for this sale can be found here. Insiders sold a total of 136,731 shares of company stock worth $7,389,826 over the last 90 days. 7.74% of the stock is currently owned by company insiders.

AAR Trading Down 1.9 %

Shares of AAR stock opened at $52.42 on Thursday. The company has a quick ratio of 1.50, a current ratio of 3.22 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 20.56 and a beta of 1.59. The business has a fifty day simple moving average of $53.45 and a 200-day simple moving average of $50.32. AAR Corp. has a fifty-two week low of $33.75 and a fifty-two week high of $56.86.

AAR (NYSE:AIR – Get Rating) last announced its quarterly earnings data on Tuesday, March 21st. The aerospace company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.07. The business had revenue of $521.10 million during the quarter, compared to analyst estimates of $487.41 million. AAR had a return on equity of 9.46% and a net margin of 4.75%. The company’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. On average, equities analysts forecast that AAR Corp. will post 2.85 EPS for the current fiscal year.

About AAR

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AAR Corp. engages in the provision of products and services to commercial aviation and government and defense industries. It operates through the following segments: Aviation Services and Expeditionary Services. The Aviation Services segment consists of aftermarket support and services businesses that provide spares and maintenance support for aircraft operated by commercial and government/defense customers.