American Century Companies Inc. Buys 19,463 Shares of AAR Corp. $AIR

American Century Companies Inc. grew its stake in AAR Corp. (NYSE:AIR) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 781,333 shares of the aerospace company’s stock after buying an additional 19,463 shares during the period. American Century Companies Inc. owned 2.00% of AAR worth $70,062,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its holdings in AAR by 14.9% in the third quarter. Smartleaf Asset Management LLC now owns 1,036 shares of the aerospace company’s stock valued at $91,000 after acquiring an additional 134 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of AAR by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 10,683 shares of the aerospace company’s stock valued at $958,000 after purchasing an additional 147 shares during the last quarter. Amalgamated Bank increased its position in shares of AAR by 1.7% during the third quarter. Amalgamated Bank now owns 10,243 shares of the aerospace company’s stock worth $918,000 after buying an additional 175 shares during the period. Teacher Retirement System of Texas raised its stake 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 worth $377,000 after buying an additional 231 shares during the last quarter. Finally, Optiver Holding B.V. acquired a new position in AAR in the third quarter valued at $31,000. 90.74% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Sarah Louise Flanagan sold 10,750 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $108.56, for a total value of $1,167,020.00. Following the completion of the transaction, the chief financial officer directly 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 hyperlink. Also, CAO Jessica A. Garascia sold 4,787 shares of the stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $95.25, for a total value of $455,961.75. Following the sale, the chief accounting officer directly owned 29,557 shares of the company’s stock, valued at $2,815,304.25. The trade was a 13.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 128,984 shares of company stock worth $12,517,090. 3.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AIR has been the subject of a number of recent analyst reports. Royal Bank Of Canada increased their price target on AAR from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Jefferies Financial Group lifted their target price on AAR to $135.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. The Goldman Sachs Group assumed coverage on AAR in a report on Monday, January 26th. They set a “neutral” rating and a $121.00 price target on the stock. KeyCorp raised their price objective on shares of AAR from $93.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Finally, Truist Financial set a $107.00 target price on shares of AAR 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 two have assigned a Hold rating to the company. According to data from MarketBeat, AAR currently has an average rating of “Moderate Buy” and a consensus price target of $115.40.

AAR Trading Up 1.6%

AIR opened at $118.67 on Thursday. The firm has a market capitalization of $4.70 billion, a PE ratio of 46.54 and a beta of 1.19. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.84 and a quick ratio of 1.31. AAR Corp. has a fifty-two week low of $46.51 and a fifty-two week high of $121.64. The company’s 50-day moving average is $104.84 and its 200 day moving average is $89.13.

AAR (NYSE:AIR) last announced its quarterly earnings results on Tuesday, January 6th. The aerospace company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the company posted $0.90 earnings per share. AAR’s revenue was up 15.9% compared to the same quarter last year. As a group, research analysts predict 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.