Allspring Global Investments Holdings LLC Increases Position in AAR Corp. $AIR

Allspring Global Investments Holdings LLC raised its holdings in AAR Corp. (NYSE:AIR) by 41.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 108,168 shares of the aerospace company’s stock after acquiring an additional 31,553 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.27% of AAR worth $9,135,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hennion & Walsh Asset Management Inc. increased its stake in shares of AAR by 12.3% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 35,324 shares of the aerospace company’s stock worth $2,924,000 after acquiring an additional 3,874 shares during the last quarter. DAVENPORT & Co LLC grew its holdings in shares of AAR by 49.8% in the fourth quarter. DAVENPORT & Co LLC now owns 10,256 shares of the aerospace company’s stock valued at $849,000 after purchasing an additional 3,411 shares during the period. SG Americas Securities LLC grew its holdings in shares of AAR by 17.8% in the fourth quarter. SG Americas Securities LLC now owns 24,504 shares of the aerospace company’s stock valued at $2,029,000 after purchasing an additional 3,697 shares during the period. Oliver Luxxe Assets LLC increased its position in AAR by 31.6% during the fourth quarter. Oliver Luxxe Assets LLC now owns 40,437 shares of the aerospace company’s stock worth $3,348,000 after purchasing an additional 9,715 shares during the last quarter. Finally, Central Pacific Bank Trust Division raised its stake in AAR by 75.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 8,006 shares of the aerospace company’s stock worth $663,000 after purchasing an additional 3,445 shares during the period. 90.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on AIR shares. Royal Bank Of Canada increased their price objective on AAR from $105.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. The Goldman Sachs Group initiated coverage on AAR in a research note on Monday, January 26th. They issued a “neutral” rating and a $121.00 price target on the stock. Wall Street Zen upgraded AAR from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Weiss Ratings upgraded shares of AAR from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, March 27th. Finally, Zacks Research cut shares of AAR from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $128.80.

Insider Buying and Selling at AAR

In other news, CAO Jessica A. Garascia sold 4,787 shares of AAR 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 completion of the transaction, the chief accounting officer owned 29,557 shares in the company, valued at approximately $2,815,304.25. This trade represents a 13.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Christopher A. Jessup sold 23,621 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $97.05, for a total transaction of $2,292,418.05. Following the completion of the sale, the senior vice president directly owned 65,769 shares in the company, valued at approximately $6,382,881.45. This trade represents a 26.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 192,082 shares of company stock worth $20,136,883. 3.60% of the stock is currently owned by corporate insiders.

AAR Stock Performance

Shares of AAR stock opened at $109.69 on Monday. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of 24.32 and a beta of 1.20. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.70 and a quick ratio of 1.23. The business has a 50-day moving average of $110.61 and a 200 day moving average of $94.33. AAR Corp. has a 12 month low of $46.51 and a 12 month high of $122.97.

AAR (NYSE:AIR) last issued its quarterly earnings results on Tuesday, March 24th. The aerospace company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.04. The company had revenue of $845.10 million for the quarter, compared to analyst estimates of $812.58 million. AAR had a net margin of 5.46% and a return on equity of 12.39%. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 earnings per share. As a group, sell-side analysts forecast that AAR Corp. will post 3.77 earnings per share for the current year.

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.