Charles Schwab Investment Management Inc. Trims Stake in AAR Corp. $AIR

Charles Schwab Investment Management Inc. cut its stake in shares of AAR Corp. (NYSE:AIR) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 532,057 shares of the aerospace company’s stock after selling 6,068 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.47% of AAR worth $29,790,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new stake in shares of AAR during the 1st quarter worth approximately $526,000. GAMMA Investing LLC raised its holdings in shares of AAR by 10,454.2% during the 1st quarter. GAMMA Investing LLC now owns 63,325 shares of the aerospace company’s stock worth $3,546,000 after acquiring an additional 62,725 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of AAR during the 1st quarter worth approximately $294,000. Natixis Advisors LLC raised its holdings in shares of AAR by 57.4% during the 1st quarter. Natixis Advisors LLC now owns 23,591 shares of the aerospace company’s stock worth $1,321,000 after acquiring an additional 8,601 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of AAR by 60.3% during the 4th quarter. First Trust Advisors LP now owns 26,173 shares of the aerospace company’s stock worth $1,604,000 after acquiring an additional 9,846 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors.

AAR Price Performance

Shares of NYSE AIR opened at $73.7610 on Wednesday. AAR Corp. has a 1-year low of $46.51 and a 1-year high of $86.43. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 223.52 and a beta of 1.53. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.72 and a quick ratio of 1.26. The stock’s 50-day moving average is $73.22 and its two-hundred day moving average is $65.31.

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

Analyst Ratings Changes

AIR has been the topic of a number of recent research reports. Wall Street Zen raised AAR from a “hold” rating to a “buy” rating in a research report on Tuesday. Royal Bank Of Canada raised their price target on AAR from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. KeyCorp raised their price target on AAR from $80.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Finally, Truist Financial raised their price target on AAR from $78.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $83.75.

Insider Transactions at AAR

In related news, CAO Jessica A. Garascia sold 3,631 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $77.08, for a total value of $279,877.48. Following the transaction, the chief accounting officer owned 39,117 shares in the company, valued at approximately $3,015,138.36. The trade was a 8.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sean M. Gillen sold 18,000 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $77.37, for a total value of $1,392,660.00. Following the completion of the transaction, the chief financial officer owned 99,868 shares in the company, valued at approximately $7,726,787.16. This trade represents a 15.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,182 shares of company stock worth $7,331,452 in the last three months. 3.60% of the stock is currently owned by insiders.

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.