CenterBook Partners LP Invests $1.91 Million in AAR Corp. $AIR

CenterBook Partners LP bought a new stake in AAR Corp. (NYSE:AIR) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 21,321 shares of the aerospace company’s stock, valued at approximately $1,912,000. CenterBook Partners LP owned 0.05% of AAR as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC acquired a new position in AAR during the third quarter worth approximately $30,000. Osterweis Capital Management Inc. purchased a new position in shares of AAR during the second quarter worth approximately $26,000. Westfuller Advisors LLC acquired a new position in shares of AAR in the 3rd quarter valued at $39,000. Concord Wealth Partners purchased a new stake in AAR in the 3rd quarter valued at $51,000. Finally, Bessemer Group Inc. boosted its stake in AAR by 255.0% during the 3rd quarter. Bessemer Group Inc. now owns 600 shares of the aerospace company’s stock worth $53,000 after purchasing an additional 431 shares during the period. Hedge funds and other institutional investors own 90.74% of the company’s stock.

AAR Stock Performance

Shares of AIR opened at $115.49 on Friday. 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 Corp. has a 52-week low of $46.51 and a 52-week high of $118.00. The company has a 50-day simple moving average of $98.67 and a 200-day simple moving average of $86.35. The company has a market capitalization of $4.57 billion, a PE ratio of 45.29 and a beta of 1.23.

AAR (NYSE:AIR) last released 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 net margin of 3.17% and a return on equity of 12.40%. The firm had revenue of $795.30 million for the quarter, compared to the consensus estimate of $760.95 million. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. Equities research analysts predict that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AIR has been the topic of a number of recent research reports. KeyCorp lifted their price objective 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. Zacks Research raised AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. Truist Financial set a $107.00 price objective on AAR in a research note on Friday, January 9th. Royal Bank Of Canada lifted their target price on AAR from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of AAR in a report on Monday, December 29th. One equities research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.80.

Insider Transactions at AAR

In other news, CEO John Mcclain Holmes III sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $108.44, for a total value of $1,084,400.00. Following the completion of the transaction, the chief executive officer owned 237,064 shares in the company, valued at $25,707,220.16. This trade represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jessica A. Garascia sold 4,787 shares of AAR stock in a transaction on 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 $2,815,304.25. This trade represents a 13.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 128,984 shares of company stock worth $12,517,090. 3.60% of the stock is currently owned by 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.