Swiss National Bank Decreases Stake in AAR Corp. (NYSE:AIR)

Swiss National Bank reduced its position in AAR Corp. (NYSE:AIR) by 11.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,700 shares of the aerospace company’s stock after selling 9,800 shares during the period. Swiss National Bank owned approximately 0.22% of AAR worth $4,129,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. PNC Financial Services Group Inc. lifted its position in shares of AAR by 6.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,086 shares of the aerospace company’s stock worth $228,000 after purchasing an additional 312 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of AAR by 11.3% during the second quarter. Captrust Financial Advisors now owns 3,625 shares of the aerospace company’s stock worth $152,000 after purchasing an additional 369 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of AAR by 2.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,766 shares of the aerospace company’s stock worth $805,000 after purchasing an additional 377 shares during the last quarter. Yousif Capital Management LLC lifted its position in shares of AAR by 1.4% during the first quarter. Yousif Capital Management LLC now owns 30,104 shares of the aerospace company’s stock worth $1,458,000 after purchasing an additional 409 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in shares of AAR by 4.4% during the fourth quarter. Arizona State Retirement System now owns 9,990 shares of the aerospace company’s stock worth $449,000 after purchasing an additional 425 shares during the last quarter. Institutional investors own 89.87% of the company’s stock.

Insider Buying and Selling at AAR

In other AAR news, CAO Eric Pachapa sold 11,996 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $58.12, for a total value of $697,207.52. Following the sale, the chief accounting officer now owns 32,951 shares in the company, valued at $1,915,112.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO John Mcclain Holmes III sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $58.02, for a total transaction of $580,200.00. Following the transaction, the chief executive officer now owns 321,766 shares in the company, valued at $18,668,863.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Eric Pachapa sold 11,996 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $58.12, for a total transaction of $697,207.52. Following the transaction, the chief accounting officer now owns 32,951 shares in the company, valued at approximately $1,915,112.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,971 shares of company stock worth $2,959,062. 4.30% of the stock is owned by company insiders.

AAR Price Performance

Shares of NYSE:AIR opened at $61.51 on Friday. The firm’s 50 day moving average is $59.17 and its two-hundred day moving average is $55.66. AAR Corp. has a 52 week low of $33.75 and a 52 week high of $63.88. The firm has a market capitalization of $2.15 billion, a P/E ratio of 24.12 and a beta of 1.61. The company has a current ratio of 3.12, a quick ratio of 1.49 and a debt-to-equity ratio of 0.25.

AAR (NYSE:AIR) last announced its quarterly earnings results on Tuesday, July 18th. The aerospace company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.78 by $0.05. AAR had a net margin of 4.53% and a return on equity of 9.61%. The company had revenue of $553.00 million for the quarter, compared to analyst estimates of $525.92 million. During the same quarter last year, the business earned $0.72 earnings per share. AAR’s revenue was up 16.2% compared to the same quarter last year. Analysts anticipate that AAR Corp. will post 3.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Truist Financial increased their price target on shares of AAR from $60.00 to $68.00 in a research report on Wednesday, July 19th. StockNews.com assumed coverage on shares of AAR in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada increased their price objective on shares of AAR from $60.00 to $66.00 in a research note on Wednesday, July 19th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $63.00.

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.