GAMMA Investing LLC Takes Position in AAR Corp. (NYSE:AIR)

GAMMA Investing LLC purchased a new stake in shares of AAR Corp. (NYSE:AIR) in the 4th quarter, Holdings Channel reports. The fund purchased 438 shares of the aerospace company’s stock, valued at approximately $27,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale purchased a new stake in shares of AAR during the 3rd quarter valued at about $33,000. Harvest Fund Management Co. Ltd raised its holdings in shares of AAR by 592.4% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,184 shares of the aerospace company’s stock worth $70,000 after acquiring an additional 1,013 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of AAR during the 3rd quarter worth approximately $200,000. Pathstone Family Office LLC purchased a new stake in AAR during the 3rd quarter valued at $231,000. Finally, Jump Financial LLC purchased a new stake in AAR during the 3rd quarter valued at $289,000. Hedge funds and other institutional investors own 90.74% of the company’s stock.

Insider Activity at AAR

In related news, CAO Jessica A. Garascia sold 7,352 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $63.37, for a total transaction of $465,896.24. Following the sale, the chief accounting officer now owns 28,165 shares of the company’s stock, valued at $1,784,816.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other AAR news, CAO Jessica A. Garascia sold 7,352 shares of the firm’s 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Christopher A. Jessup sold 14,973 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $70.05, for a total value of $1,048,858.65. Following the completion of the sale, the senior vice president now directly owns 51,803 shares of the company’s stock, valued at approximately $3,628,800.15. The disclosure for this sale can be found here. Insiders have sold a total of 79,720 shares of company stock valued at $4,907,182 over the last quarter. 4.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on AIR shares. Royal Bank of Canada restated an “outperform” rating and set a $80.00 price target on shares of AAR in a report on Friday, March 22nd. Benchmark increased their target price on AAR from $65.00 to $83.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Finally, William Blair initiated coverage on AAR in a research note on Monday, January 29th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, AAR has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

AAR Price Performance

AIR opened at $71.06 on Tuesday. AAR Corp. has a 12-month low of $50.06 and a 12-month high of $73.95. The company has a current ratio of 2.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.24. The business’s fifty day simple moving average is $63.96 and its 200-day simple moving average is $63.86. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 41.80 and a beta of 1.60.

AAR (NYSE:AIR) last issued its quarterly earnings data on Thursday, March 21st. The aerospace company reported $0.85 earnings per share 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%. The company had revenue of $567.30 million for the quarter, compared to the consensus estimate of $567.63 million. On average, equities research analysts anticipate that AAR Corp. will post 3.3 earnings per share for the current fiscal year.

AAR 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.