Allspring Global Investments Holdings LLC Purchases 36,737 Shares of AAR Corp. (NYSE:AIR)

Allspring Global Investments Holdings LLC increased its position in AAR Corp. (NYSE:AIR) by 1,312.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,536 shares of the aerospace company’s stock after purchasing an additional 36,737 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in AAR were worth $2,467,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Eagle Investment Management LLC lifted its holdings in shares of AAR by 36.9% during the third quarter. First Eagle Investment Management LLC now owns 190,928 shares of the aerospace company’s stock valued at $11,366,000 after acquiring an additional 51,438 shares during the period. Loomis Sayles & Co. L P lifted its holdings in shares of AAR by 11.7% during the third quarter. Loomis Sayles & Co. L P now owns 680,241 shares of the aerospace company’s stock valued at $40,494,000 after acquiring an additional 71,272 shares during the period. Gotham Asset Management LLC lifted its holdings in shares of AAR by 20.4% during the third quarter. Gotham Asset Management LLC now owns 5,867 shares of the aerospace company’s stock valued at $349,000 after acquiring an additional 996 shares during the period. Illinois Municipal Retirement Fund bought a new position in shares of AAR during the third quarter valued at $1,190,000. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of AAR by 39.0% during the third quarter. Qube Research & Technologies Ltd now owns 40,800 shares of the aerospace company’s stock valued at $2,429,000 after acquiring an additional 11,445 shares during the period. 90.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AIR shares. Royal Bank of Canada reissued an “outperform” rating and set a $80.00 price objective on shares of AAR in a report on Friday, March 22nd. Benchmark lifted their price target on AAR from $65.00 to $83.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, William Blair began coverage on AAR in a report on Monday, January 29th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.25.

Insider Buying and Selling

In related news, CAO Jessica A. Garascia sold 7,352 shares of AAR stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $63.37, for a total value of $465,896.24. Following the completion of the sale, the chief accounting officer now directly owns 28,165 shares in the company, valued at $1,784,816.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO John Mcclain Holmes III sold 29,250 shares of AAR stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $60.21, for a total value of $1,761,142.50. Following the completion of the sale, the chief executive officer now directly owns 303,621 shares in the company, valued at $18,281,020.41. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jessica A. Garascia sold 7,352 shares of AAR stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $63.37, for a total value of $465,896.24. Following the completion of the sale, the chief accounting officer now owns 28,165 shares of the company’s stock, valued at $1,784,816.05. The disclosure for this sale can be found here. Insiders sold a total of 64,747 shares of company stock worth $3,858,323 over the last three months. 4.30% of the stock is currently owned by company insiders.

AAR Stock Performance

AAR stock opened at $64.12 on Monday. The stock has a 50-day simple moving average of $63.43 and a 200 day simple moving average of $63.14. The company has a quick ratio of 1.33, a current ratio of 2.90 and a debt-to-equity ratio of 0.24. AAR Corp. has a 12-month low of $50.06 and a 12-month high of $73.95. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 37.72 and a beta of 1.67.

AAR (NYSE:AIR) last released its quarterly earnings results on Thursday, March 21st. The aerospace company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. AAR had a return on equity of 10.17% and a net margin of 2.73%. On average, research analysts anticipate that AAR Corp. will post 3.3 earnings per share for the current fiscal year.

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.