US Bancorp DE Buys 1,455 Shares of AAR Corp. (NYSE:AIR)

US Bancorp DE boosted its stake in AAR Corp. (NYSE:AIR) by 23.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,573 shares of the aerospace company’s stock after purchasing an additional 1,455 shares during the period. US Bancorp DE’s holdings in AAR were worth $424,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Bank of America Corp DE grew its position in shares of AAR by 293.3% during the 4th quarter. Bank of America Corp DE now owns 171,203 shares of the aerospace company’s stock valued at $10,491,000 after acquiring an additional 127,668 shares during the period. Invesco Ltd. grew its position in shares of AAR by 13.5% during the 4th quarter. Invesco Ltd. now owns 1,070,618 shares of the aerospace company’s stock valued at $65,607,000 after acquiring an additional 127,148 shares during the period. Westwood Holdings Group Inc. grew its position in shares of AAR by 8.7% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,441,154 shares of the aerospace company’s stock valued at $88,314,000 after acquiring an additional 115,476 shares during the period. Raymond James Financial Inc. bought a new stake in shares of AAR during the 4th quarter valued at $6,849,000. Finally, JPMorgan Chase & Co. grew its position in shares of AAR by 215.9% during the 4th quarter. JPMorgan Chase & Co. now owns 128,676 shares of the aerospace company’s stock valued at $7,885,000 after acquiring an additional 87,939 shares during the period. Institutional investors own 90.74% of the company’s stock.

AAR Stock Up 3.4%

AIR opened at $77.95 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.26 and a current ratio of 2.72. AAR Corp. has a fifty-two week low of $46.51 and a fifty-two week high of $86.43. The firm’s fifty day moving average is $72.26 and its 200 day moving average is $65.05. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 236.23 and a beta of 1.53.

AAR (NYSE:AIR) last announced its quarterly earnings results on Wednesday, July 16th. The aerospace company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.00 by $0.16. The business had revenue of $754.50 million for the quarter, compared to analysts’ expectations of $695.81 million. AAR had a net margin of 0.45% and a return on equity of 11.66%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 EPS. On average, sell-side analysts forecast that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AIR shares. KeyCorp lifted their target price on shares of AAR from $80.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Royal Bank Of Canada lifted their target price on shares of AAR from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. Truist Financial lifted their target price on shares of AAR from $78.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Finally, Wall Street Zen cut shares of AAR from a “buy” rating to a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.75.

Insider Activity at AAR

In related news, CFO Sean M. Gillen sold 18,000 shares of the company’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $77.37, for a total transaction of $1,392,660.00. Following the transaction, the chief financial officer directly owned 99,868 shares in the company, valued at approximately $7,726,787.16. This represents a 15.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John Mcclain Holmes III sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $71.70, for a total transaction of $717,000.00. Following the completion of the transaction, the chief executive officer owned 298,603 shares in the company, valued at $21,409,835.10. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,182 shares of company stock worth $7,331,452 in the last quarter. 3.60% of the stock is owned by company insiders.

AAR Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Parts Supply segment leases and sells aircraft components and replacement parts. The Repair & Engineering segment provides airframe maintenance services, such as airframe inspection, painting, line maintenance, airframe modification, structural repair, avionics service and installation, exterior and interior refurbishment, and engineering and support services; component repair services comprising maintenance, repair, and overhaul (MRO) services, engine and airframe accessories, and interior refurbishment; and landing gear overhaul services, including repair services on wheels and brakes.