AAR Corp. $AIR Shares Sold by Citigroup Inc.

Citigroup Inc. decreased its holdings in shares of AAR Corp. (NYSE:AIR) by 38.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,805 shares of the aerospace company’s stock after selling 21,160 shares during the quarter. Citigroup Inc. owned about 0.09% of AAR worth $3,031,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AIR. State Street Corp grew its holdings in shares of AAR by 10.9% during the 2nd quarter. State Street Corp now owns 1,917,821 shares of the aerospace company’s stock worth $131,927,000 after purchasing an additional 188,406 shares during the period. Principal Financial Group Inc. boosted its stake in AAR by 35.2% during the third quarter. Principal Financial Group Inc. now owns 640,707 shares of the aerospace company’s stock worth $57,452,000 after buying an additional 166,903 shares during the period. Marsico Capital Management LLC acquired a new stake in shares of AAR during the second quarter valued at about $4,801,000. PDT Partners LLC increased its position in shares of AAR by 758.4% during the second quarter. PDT Partners LLC now owns 66,094 shares of the aerospace company’s stock valued at $4,547,000 after acquiring an additional 58,394 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of AAR by 4.2% in the 2nd quarter. Invesco Ltd. now owns 1,208,796 shares of the aerospace company’s stock valued at $83,153,000 after acquiring an additional 48,376 shares during the period. Institutional investors and hedge funds own 90.74% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AIR shares. Wall Street Zen raised shares of AAR from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. KeyCorp lifted their price objective on AAR from $93.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Truist Financial set a $107.00 price objective on AAR in a report on Friday, January 9th. Jefferies Financial Group raised their target price on AAR to $135.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Finally, Royal Bank Of Canada boosted their price target on shares of AAR from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $115.40.

AAR Price Performance

Shares of NYSE AIR opened at $110.60 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.84 and a quick ratio of 1.31. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 43.37 and a beta of 1.19. The stock’s 50-day moving average is $105.33 and its two-hundred day moving average is $89.27. AAR Corp. has a 1-year low of $46.51 and a 1-year high of $121.64.

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

Insider Activity

In related news, SVP Christopher A. Jessup sold 23,621 shares of the 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 transaction, the senior vice president owned 65,769 shares of the company’s stock, valued at $6,382,881.45. This represents a 26.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Jessica A. Garascia sold 4,787 shares of the company’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $95.25, for a total value of $455,961.75. Following the transaction, the chief accounting officer directly owned 29,557 shares of the company’s stock, valued at approximately $2,815,304.25. This represents a 13.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 128,984 shares of company stock worth $12,517,090. 3.60% of the stock is currently owned by company insiders.

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.