Thrivent Financial for Lutherans Reduces Stock Position in AAR Corp. $AIR

Thrivent Financial for Lutherans lessened its holdings in shares of AAR Corp. (NYSE:AIR) by 17.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,675 shares of the aerospace company’s stock after selling 10,964 shares during the period. Thrivent Financial for Lutherans owned about 0.13% of AAR worth $4,544,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Y Intercept Hong Kong Ltd bought a new position in AAR in the third quarter worth about $1,042,000. Oliver Luxxe Assets LLC purchased a new position in shares of AAR during the 3rd quarter worth approximately $2,755,000. Legal & General Group Plc raised its position in shares of AAR by 12.1% in the 2nd quarter. Legal & General Group Plc now owns 120,577 shares of the aerospace company’s stock worth $8,294,000 after acquiring an additional 12,976 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted its stake in shares of AAR by 8.7% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 211,132 shares of the aerospace company’s stock valued at $18,932,000 after purchasing an additional 16,892 shares during the period. Finally, Emerald Advisers LLC boosted its position in shares of AAR by 8.3% during the third quarter. Emerald Advisers LLC now owns 364,875 shares of the aerospace company’s stock valued at $32,718,000 after purchasing an additional 27,870 shares in the last quarter. Institutional investors own 90.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Truist Financial set a $107.00 price objective on AAR in a report on Friday, January 9th. Wall Street Zen lowered shares of AAR from a “buy” rating to a “hold” rating in a research note on Saturday. Royal Bank Of Canada lifted their price target on shares of AAR from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, January 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of AAR in a research note on Monday, December 29th. Finally, KeyCorp raised their target price on shares of AAR from $93.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $110.80.

Insider Buying and Selling

In related news, CFO Sarah Louise Flanagan sold 10,750 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $108.56, for a total transaction of $1,167,020.00. Following the completion of the sale, the chief financial officer owned 32,848 shares of the company’s stock, valued at $3,565,978.88. This represents a 24.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jessica A. Garascia sold 4,787 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $95.25, for a total transaction of $455,961.75. Following the completion of the sale, the chief accounting officer owned 29,557 shares of the company’s stock, valued at approximately $2,815,304.25. This trade represents a 13.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 128,984 shares of company stock worth $12,517,090 over the last ninety days. 3.60% of the stock is currently owned by company insiders.

AAR Stock Up 6.0%

AIR opened at $113.26 on Friday. The firm’s fifty day moving average is $93.02 and its 200 day moving average is $84.06. AAR Corp. has a fifty-two week low of $46.51 and a fifty-two week high of $113.65. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 44.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.31 and a current ratio of 2.84.

AAR (NYSE:AIR) last issued its 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 during 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 revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. On average, sell-side analysts forecast that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

AAR Profile

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.