111,190 Shares in AAR Corp. $AIR Purchased by Nuveen LLC

Nuveen LLC bought a new position in shares of AAR Corp. (NYSE:AIR) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 111,190 shares of the aerospace company’s stock, valued at approximately $6,226,000. Nuveen LLC owned approximately 0.31% of AAR at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. grew its position in shares of AAR by 8.4% during the first quarter. Invesco Ltd. now owns 1,160,420 shares of the aerospace company’s stock worth $64,972,000 after purchasing an additional 89,802 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of AAR during the first quarter worth about $209,000. Westwood Holdings Group Inc. grew its position in shares of AAR by 10.3% during the first quarter. Westwood Holdings Group Inc. now owns 1,589,320 shares of the aerospace company’s stock worth $88,986,000 after purchasing an additional 148,166 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of AAR by 66.8% during the first quarter. PNC Financial Services Group Inc. now owns 7,294 shares of the aerospace company’s stock worth $408,000 after purchasing an additional 2,922 shares in the last quarter. Finally, US Bancorp DE grew its position in shares of AAR by 23.8% during the first quarter. US Bancorp DE now owns 7,573 shares of the aerospace company’s stock worth $424,000 after purchasing an additional 1,455 shares in the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.

Insider Buying and Selling

In other news, CAO Jessica A. Garascia sold 3,631 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $77.08, for a total value of $279,877.48. Following the completion of the sale, the chief accounting officer directly owned 39,117 shares of the company’s stock, valued at $3,015,138.36. This trade represents a 8.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John Mcclain Holmes III sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $71.70, for a total value of $717,000.00. Following the sale, the chief executive officer directly owned 298,603 shares of the company’s stock, 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 sold 95,182 shares of company stock valued at $7,331,452 over the last quarter. Company insiders own 3.60% of the company’s stock.

AAR Price Performance

NYSE:AIR opened at $75.02 on Tuesday. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 227.34 and a beta of 1.53. AAR Corp. has a 1 year low of $46.51 and a 1 year high of $86.43. The business has a 50 day simple moving average of $73.64 and a 200-day simple moving average of $65.47. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.72 and a quick ratio of 1.26.

AAR (NYSE:AIR) last posted its quarterly earnings data on Wednesday, July 16th. The aerospace company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. The business 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 company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. Equities analysts forecast that AAR Corp. will post 3.77 EPS for the current year.

Wall Street Analyst Weigh In

AIR has been the subject of several research analyst reports. KeyCorp increased their target price on AAR from $80.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. Wall Street Zen upgraded AAR from a “hold” rating to a “buy” rating in a report on Tuesday, August 19th. 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 report 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 report on Friday, July 11th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price 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.