AAR Corp. (NYSE:AIR) Holdings Lifted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its position in shares of AAR Corp. (NYSE:AIR) by 66.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,294 shares of the aerospace company’s stock after buying an additional 2,922 shares during the quarter. PNC Financial Services Group Inc.’s holdings in AAR were worth $408,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. US Bancorp DE boosted its stake in AAR by 23.8% during the first quarter. US Bancorp DE now owns 7,573 shares of the aerospace company’s stock valued at $424,000 after buying an additional 1,455 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of AAR by 57.4% in the 1st quarter. Natixis Advisors LLC now owns 23,591 shares of the aerospace company’s stock valued at $1,321,000 after purchasing an additional 8,601 shares during the period. Segall Bryant & Hamill LLC boosted its position in shares of AAR by 1.8% in the 1st quarter. Segall Bryant & Hamill LLC now owns 279,051 shares of the aerospace company’s stock valued at $15,624,000 after purchasing an additional 4,847 shares during the period. Hughes Financial Services LLC acquired a new position in shares of AAR in the 1st quarter valued at $28,000. Finally, Emerald Advisers LLC boosted its position in shares of AAR by 4.2% in the 1st quarter. Emerald Advisers LLC now owns 510,814 shares of the aerospace company’s stock valued at $28,600,000 after purchasing an additional 20,654 shares during the period. Institutional investors own 90.74% of the company’s stock.

AAR Trading Down 2.0%

Shares of NYSE AIR opened at $77.12 on Friday. AAR Corp. has a one year low of $46.51 and a one year high of $86.43. The firm has a market capitalization of $2.77 billion, a PE ratio of 233.71 and a beta of 1.53. The company has a current ratio of 2.72, a quick ratio of 1.26 and a debt-to-equity ratio of 0.80. The business has a 50-day moving average price of $72.75 and a two-hundred day moving average price of $65.20.

AAR (NYSE:AIR) last announced its quarterly earnings data on Wednesday, July 16th. The aerospace company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. The firm had revenue of $754.50 million during the quarter, compared to analyst estimates of $695.81 million. AAR had a return on equity of 11.66% and a net margin of 0.45%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the company posted $0.88 EPS. As a group, analysts predict that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Insider Transactions at AAR

In other news, Director Jennifer L. Vogel sold 7,000 shares of AAR stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $78.07, for a total transaction of $546,490.00. Following the completion of the sale, the director directly owned 22,970 shares in the company, valued at $1,793,267.90. The trade was a 23.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jessica A. Garascia sold 3,631 shares of AAR stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $77.08, for a total value of $279,877.48. Following the sale, the chief accounting officer owned 39,117 shares of the company’s stock, valued at approximately $3,015,138.36. This represents a 8.49% 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 valued at $7,331,452 in the last quarter. Corporate insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

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

About AAR

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.