AAR Corp. $AIR Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its stake in shares of AAR Corp. (NYSE:AIR) by 51.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 5,093 shares of the aerospace company’s stock after selling 5,330 shares during the period. Maryland State Retirement & Pension System’s holdings in AAR were worth $457,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AIR. Teacher Retirement System of Texas raised its position in AAR by 4.4% during the second quarter. Teacher Retirement System of Texas now owns 5,482 shares of the aerospace company’s stock valued at $377,000 after acquiring an additional 231 shares in the last quarter. Voya Investment Management LLC boosted its position in AAR by 2.6% in the 1st quarter. Voya Investment Management LLC now owns 12,528 shares of the aerospace company’s stock worth $701,000 after purchasing an additional 320 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of AAR by 1.0% during the 2nd quarter. California State Teachers Retirement System now owns 33,178 shares of the aerospace company’s stock worth $2,282,000 after purchasing an additional 341 shares during the period. Salomon & Ludwin LLC purchased a new position in shares of AAR during the 3rd quarter valued at approximately $30,000. Finally, Osterweis Capital Management Inc. purchased a new position in shares of AAR during the 2nd quarter valued at approximately $26,000. Hedge funds and other institutional investors own 90.74% of the company’s stock.

Analyst Upgrades and Downgrades

AIR has been the topic of several analyst reports. Jefferies Financial Group set a $112.00 price target on shares of AAR and gave the company a “buy” rating in a research report on Thursday, January 15th. Weiss Ratings restated a “hold (c-)” rating on shares of AAR in a research report on Monday, December 29th. Truist Financial set a $107.00 price target on AAR in a research note on Friday, January 9th. Wall Street Zen upgraded AAR from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Finally, Zacks Research upgraded AAR from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $108.25.

AAR Trading Down 2.0%

Shares of AIR opened at $105.56 on Friday. AAR Corp. has a 52-week low of $46.51 and a 52-week high of $107.82. The stock has a market cap of $4.18 billion, a PE ratio of 41.40 and a beta of 1.24. The firm’s fifty day moving average is $87.63 and its two-hundred day moving average is $81.91. The company has a quick ratio of 1.31, a current ratio of 2.84 and a debt-to-equity ratio of 0.61.

AAR (NYSE:AIR) last posted its quarterly earnings results on Tuesday, January 6th. The aerospace company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. The firm had revenue of $795.30 million for the quarter, compared to analyst estimates of $760.95 million. AAR had a net margin of 3.17% and a return on equity of 12.40%. AAR’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 earnings per share. Research analysts forecast that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AAR news, CEO John Mcclain Holmes III sold 38,462 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $83.50, for a total transaction of $3,211,577.00. Following the transaction, the chief executive officer owned 260,141 shares of the company’s stock, valued at approximately $21,721,773.50. The trade was a 12.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Christopher A. Jessup sold 23,621 shares of the firm’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $97.05, for a total value of $2,292,418.05. Following the completion of the sale, the senior vice president directly owned 65,769 shares of the company’s stock, valued at $6,382,881.45. This trade represents a 26.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 146,696 shares of company stock worth $13,477,247. 3.60% of the stock is owned by corporate insiders.

About AAR

AAR Corp. (NYSE: AIR) is a global provider of aviation products and services to commercial, government and defense customers. The company offers a comprehensive portfolio of maintenance, repair and overhaul (MRO) solutions, component repair and overhaul, and engineering services designed to support a wide variety of fixed-wing and rotary aircraft. Leveraging FAA and EASA certifications, AAR delivers turnkey maintenance programs and ad hoc repair services that enhance aircraft availability and reliability.

In its Aviation Supply Chain Services segment, AAR sources, stores and distributes parts for both commercial airlines and military operators.