AAR Corp. (NYSE:AIR) CEO Sells $8,573,786.52 in Stock

AAR Corp. (NYSE:AIR) CEO John Mcclain Holmes III sold 128,427 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $66.76, for a total value of $8,573,786.52. Following the completion of the transaction, the chief executive officer now directly owns 346,680 shares in the company, valued at approximately $23,144,356.80. The trade was a 27.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

AAR Price Performance

Shares of AIR stock traded up $1.91 during mid-day trading on Monday, reaching $69.63. The stock had a trading volume of 375,136 shares, compared to its average volume of 441,067. The company has a market cap of $2.50 billion, a P/E ratio of 38.26 and a beta of 1.61. The company has a current ratio of 3.06, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. AAR Corp. has a 12-month low of $54.71 and a 12-month high of $76.34. The business has a 50-day simple moving average of $65.04 and a 200 day simple moving average of $65.20.

AAR (NYSE:AIR) last posted its earnings results on Tuesday, January 7th. The aerospace company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. AAR had a return on equity of 10.22% and a net margin of 2.67%. The firm had revenue of $686.10 million for the quarter, compared to analyst estimates of $654.47 million. During the same quarter in the prior year, the company earned $0.81 EPS. AAR’s revenue was up 25.8% on a year-over-year basis. On average, sell-side analysts anticipate that AAR Corp. will post 3.63 earnings per share for the current year.

Hedge Funds Weigh In On AAR

Several institutional investors and hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI purchased a new stake in AAR during the third quarter valued at about $25,000. Quest Partners LLC purchased a new stake in shares of AAR during the 2nd quarter worth about $33,000. EverSource Wealth Advisors LLC increased its position in AAR by 43.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 778 shares of the aerospace company’s stock worth $57,000 after purchasing an additional 234 shares in the last quarter. KBC Group NV raised its holdings in AAR by 32.9% in the third quarter. KBC Group NV now owns 1,324 shares of the aerospace company’s stock valued at $87,000 after buying an additional 328 shares during the period. Finally, L & S Advisors Inc acquired a new position in AAR during the second quarter valued at approximately $218,000. Institutional investors and hedge funds own 90.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. StockNews.com lowered AAR from a “hold” rating to a “sell” rating in a report on Thursday. Benchmark reaffirmed a “buy” rating and set a $83.00 price target on shares of AAR in a research note on Friday, October 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $75.00 price objective on shares of AAR in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.00.

About AAR

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Parts Supply segment leases and sells aircraft components and replacement parts. The Repair & Engineering segment provides airframe maintenance services, such as airframe inspection, painting, line maintenance, airframe modification, structural repair, avionics service and installation, exterior and interior refurbishment, and engineering and support services; component repair services comprising maintenance, repair, and overhaul (MRO) services, engine and airframe accessories, and interior refurbishment; and landing gear overhaul services, including repair services on wheels and brakes.