Russell Investments Group Ltd. Raises Stock Position in AAR Corp. $AIR

Russell Investments Group Ltd. boosted its holdings in AAR Corp. (NYSE:AIR) by 69,568.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 22,294 shares of the aerospace company’s stock after buying an additional 22,262 shares during the period. Russell Investments Group Ltd. owned 0.06% of AAR worth $1,248,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Putney Financial Group LLC bought a new position in shares of AAR in the 4th quarter valued at about $30,000. Hughes Financial Services LLC purchased a new position in shares of AAR during the first quarter worth approximately $28,000. Virtus Fund Advisers LLC purchased a new position in AAR during the fourth quarter valued at approximately $36,000. GAMMA Investing LLC increased its holdings in AAR by 88.5% during the first quarter. GAMMA Investing LLC now owns 1,131 shares of the aerospace company’s stock valued at $63,000 after buying an additional 531 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in AAR by 11.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,339 shares of the aerospace company’s stock worth $143,000 after purchasing an additional 246 shares during the last quarter. Institutional investors own 90.74% of the company’s stock.

Analyst Ratings Changes

AIR has been the subject of several research reports. Wall Street Zen upgraded shares of AAR from a “hold” rating to a “buy” rating in a research note on Tuesday, August 19th. KeyCorp upped their price target on shares of AAR from $80.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. Royal Bank Of Canada increased their price target 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. Finally, Truist Financial increased their price objective on shares of AAR from $78.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $83.75.

Insider Buying and Selling at AAR

In other news, CEO John Mcclain Holmes III sold 10,000 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $71.70, for a total transaction of $717,000.00. Following the transaction, the chief executive officer directly owned 298,603 shares of the company’s stock, valued at approximately $21,409,835.10. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jennifer L. Vogel sold 7,000 shares of the company’s stock in a transaction on Wednesday, July 23rd. The shares were 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. This represents a 23.36% 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 ninety days. Corporate insiders own 3.60% of the company’s stock.

AAR Stock Performance

Shares of AIR opened at $75.70 on Friday. 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 stock has a market cap of $2.72 billion, a P/E ratio of 229.39 and a beta of 1.53. The company has a 50-day moving average of $74.17 and a two-hundred day moving average of $65.67. AAR Corp. has a 12-month low of $46.51 and a 12-month high of $86.43.

AAR (NYSE:AIR) last issued its quarterly earnings results 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 business had revenue of $754.50 million during the quarter, compared to the consensus estimate of $695.81 million. AAR had a net margin of 0.45% and a return on equity of 11.66%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 earnings per share. As a group, research analysts predict that AAR Corp. will post 3.77 EPS for the current fiscal year.

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.