Credit Suisse AG increased its holdings in AAR Corp. (NYSE:AIR – Free Report) by 3.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 32,027 shares of the aerospace company’s stock after buying an additional 975 shares during the period. Credit Suisse AG owned about 0.09% of AAR worth $1,747,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. O Shaughnessy Asset Management LLC acquired a new position in AAR in the fourth quarter valued at approximately $200,000. Sheets Smith Wealth Management acquired a new stake in AAR in the fourth quarter worth $292,000. Emerald Mutual Fund Advisers Trust lifted its stake in AAR by 92.3% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 55,830 shares of the aerospace company’s stock valued at $3,046,000 after buying an additional 26,800 shares during the last quarter. Keeley Teton Advisors LLC boosted its holdings in shares of AAR by 2.9% during the fourth quarter. Keeley Teton Advisors LLC now owns 35,800 shares of the aerospace company’s stock valued at $1,607,000 after acquiring an additional 1,000 shares during the period. Finally, Connable Office Inc. increased its holdings in shares of AAR by 5.9% in the 1st quarter. Connable Office Inc. now owns 9,241 shares of the aerospace company’s stock worth $504,000 after acquiring an additional 511 shares during the period. 89.87% of the stock is owned by institutional investors and hedge funds.
Insider Activity at AAR
In other AAR news, CEO John Mcclain Holmes III sold 4,960 shares of AAR stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $60.32, for a total value of $299,187.20. Following the transaction, the chief executive officer now owns 321,766 shares in the company, valued at $19,408,925.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other AAR news, CAO Eric Pachapa sold 11,996 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $58.12, for a total value of $697,207.52. Following the completion of the transaction, the chief accounting officer now directly owns 32,951 shares in the company, valued at $1,915,112.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John Mcclain Holmes III sold 4,960 shares of AAR stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $60.32, for a total transaction of $299,187.20. Following the completion of the transaction, the chief executive officer now directly owns 321,766 shares in the company, valued at $19,408,925.12. The disclosure for this sale can be found here. Insiders sold a total of 49,971 shares of company stock valued at $2,959,062 over the last ninety days. Insiders own 4.30% of the company’s stock.
AAR Stock Performance
AAR (NYSE:AIR – Get Free Report) last announced its earnings results on Tuesday, July 18th. The aerospace company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.05. AAR had a return on equity of 9.61% and a net margin of 4.53%. The business had revenue of $553.00 million during the quarter, compared to analysts’ expectations of $525.92 million. During the same quarter last year, the business posted $0.72 earnings per share. The company’s quarterly revenue was up 16.2% on a year-over-year basis. Research analysts predict that AAR Corp. will post 3.46 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on AIR shares. Royal Bank of Canada raised their price target on shares of AAR from $60.00 to $66.00 in a research note on Wednesday, July 19th. StockNews.com initiated coverage on AAR in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Truist Financial raised their price target on AAR from $60.00 to $68.00 in a report on Wednesday, July 19th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.
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