Harbor Capital Advisors Inc. Sells 1,125 Shares of AAR Corp. $AIR

Harbor Capital Advisors Inc. trimmed its stake in AAR Corp. (NYSE:AIR) by 12.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,262 shares of the aerospace company’s stock after selling 1,125 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in AAR were worth $568,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of AIR. Westwood Holdings Group Inc. grew its stake in AAR by 10.3% in the first quarter. Westwood Holdings Group Inc. now owns 1,589,320 shares of the aerospace company’s stock valued at $88,986,000 after purchasing an additional 148,166 shares in the last quarter. Fred Alger Management LLC grew its stake in AAR by 32.6% in the first quarter. Fred Alger Management LLC now owns 533,770 shares of the aerospace company’s stock valued at $29,886,000 after purchasing an additional 131,092 shares in the last quarter. Bank of America Corp DE grew its stake in AAR by 293.3% in the fourth quarter. Bank of America Corp DE now owns 171,203 shares of the aerospace company’s stock valued at $10,491,000 after purchasing an additional 127,668 shares in the last quarter. Nuveen LLC bought a new position in AAR in the first quarter valued at approximately $6,226,000. Finally, Invesco Ltd. grew its stake in AAR by 8.4% in the first quarter. Invesco Ltd. now owns 1,160,420 shares of the aerospace company’s stock valued at $64,972,000 after purchasing an additional 89,802 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors.

AAR Stock Performance

NYSE AIR opened at $75.36 on Friday. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 228.36 and a beta of 1.50. AAR Corp. has a twelve month low of $46.51 and a twelve month high of $86.43. The stock has a fifty day simple moving average of $75.75 and a 200 day simple moving average of $66.85. The company has a quick ratio of 1.26, a current ratio of 2.72 and a debt-to-equity ratio of 0.80.

AAR (NYSE:AIR) last issued its quarterly earnings results 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 firm had revenue of $754.50 million during the quarter, compared to the consensus estimate of $695.81 million. During the same period last year, the business posted $0.88 EPS. The business’s revenue was up 15.0% compared to the same quarter last year. Sell-side analysts expect that AAR Corp. will post 3.77 EPS for the current year.

Insiders Place Their Bets

In other AAR news, Director Jennifer L. Vogel sold 7,000 shares of the 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 approximately $1,793,267.90. This trade represents a 23.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sean M. Gillen sold 18,000 shares of the 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 sale, the chief financial officer owned 99,868 shares of the company’s stock, valued at approximately $7,726,787.16. The trade was a 15.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,182 shares of company stock valued at $7,331,452. 3.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on AIR shares. 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 boosted their price target on AAR from $80.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. Truist Financial boosted their price target on AAR from $78.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Finally, Wall Street Zen downgraded AAR from a “buy” rating to a “hold” rating in a research report on Saturday. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average 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.