AAR Corp. (NYSE:AIR) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in shares of AAR Corp. (NYSE:AIR) by 1.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 336,279 shares of the aerospace company’s stock after selling 5,939 shares during the quarter. Bank of New York Mellon Corp’s holdings in AAR were worth $19,423,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in AAR in the first quarter valued at $26,000. AdvisorShares Investments LLC acquired a new position in shares of AAR during the 1st quarter worth about $27,000. Point72 Hong Kong Ltd purchased a new position in AAR in the 1st quarter valued at about $44,000. Tower Research Capital LLC TRC boosted its holdings in AAR by 160.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,051 shares of the aerospace company’s stock worth $57,000 after buying an additional 648 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in AAR by 11.3% during the 2nd quarter. Captrust Financial Advisors now owns 3,625 shares of the aerospace company’s stock worth $152,000 after buying an additional 369 shares in the last quarter. Hedge funds and other institutional investors own 89.87% of the company’s stock.

AAR Stock Up 2.5 %

Shares of AIR opened at $64.05 on Monday. AAR Corp. has a 52-week low of $41.17 and a 52-week high of $65.12. The company has a quick ratio of 1.51, a current ratio of 3.07 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $59.70 and a two-hundred day simple moving average of $57.71. The company has a market capitalization of $2.26 billion, a PE ratio of 33.71 and a beta of 1.64.

AAR (NYSE:AIR) last issued its earnings results on Tuesday, September 26th. The aerospace company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The company had revenue of $549.70 million for the quarter, compared to the consensus estimate of $507.92 million. AAR had a net margin of 3.19% and a return on equity of 9.90%. AAR’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.61 earnings per share. As a group, equities analysts forecast that AAR Corp. will post 3.47 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Truist Financial increased their price objective on AAR from $60.00 to $68.00 in a research note on Wednesday, July 19th. StockNews.com initiated coverage on shares of AAR in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Benchmark restated a “buy” rating and set a $65.00 price target on shares of AAR in a research report on Wednesday, September 27th. Finally, Royal Bank of Canada increased their price objective on shares of AAR from $66.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, September 27th.

Insider Buying and Selling at AAR

In other news, Director Peter Pace sold 5,561 shares of the stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $59.09, for a total transaction of $328,599.49. Following the completion of the transaction, the director now directly owns 20,022 shares in the company, valued at approximately $1,183,099.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO John Mcclain Holmes III sold 10,000 shares of AAR stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $60.99, for a total value of $609,900.00. Following the completion of the sale, the chief executive officer now owns 321,766 shares in the company, valued at approximately $19,624,508.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter Pace sold 5,561 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $59.09, for a total value of $328,599.49. Following the completion of the sale, the director now directly owns 20,022 shares in the company, valued at approximately $1,183,099.98. The disclosure for this sale can be found here. Insiders have sold 77,332 shares of company stock worth $4,621,798 over the last quarter. 4.30% of the stock is currently owned by company insiders.

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.