Hennion & Walsh Asset Management Inc. Takes $338,000 Position in AAR Corp. (NYSE:AIR)

Hennion & Walsh Asset Management Inc. purchased a new position in shares of AAR Corp. (NYSE:AIR) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,652 shares of the aerospace company’s stock, valued at approximately $338,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AIR. Norges Bank bought a new position in shares of AAR in the fourth quarter valued at approximately $21,511,000. Wellington Management Group LLP bought a new position in AAR in the 3rd quarter valued at $11,029,000. Vanguard Group Inc. grew its stake in AAR by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 3,761,632 shares of the aerospace company’s stock valued at $234,726,000 after purchasing an additional 44,948 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of AAR during the 4th quarter valued at $2,759,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of AAR by 1,312.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,536 shares of the aerospace company’s stock worth $2,467,000 after buying an additional 36,737 shares during the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.

AAR Stock Performance

AAR stock opened at $72.08 on Thursday. The firm’s 50 day simple moving average is $70.18 and its 200 day simple moving average is $65.31. The company has a current ratio of 2.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.24. AAR Corp. has a 1-year low of $55.00 and a 1-year high of $73.95. The firm has a market capitalization of $2.55 billion, a PE ratio of 42.40 and a beta of 1.54.

Insider Transactions at AAR

In related news, SVP Christopher A. Jessup sold 15,929 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $70.09, for a total transaction of $1,116,463.61. Following the completion of the transaction, the senior vice president now directly owns 51,803 shares in the company, valued at $3,630,872.27. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CAO Eric Pachapa sold 5,121 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $70.96, for a total transaction of $363,386.16. Following the sale, the chief accounting officer now owns 25,015 shares in the company, valued at approximately $1,775,064.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Christopher A. Jessup sold 15,929 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $70.09, for a total transaction of $1,116,463.61. Following the completion of the transaction, the senior vice president now owns 51,803 shares of the company’s stock, valued at $3,630,872.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,375 shares of company stock valued at $2,994,605. 4.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on AIR. Benchmark raised their price objective on shares of AAR from $65.00 to $83.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Stifel Nicolaus lifted their price target on shares of AAR from $81.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $80.00 price objective on shares of AAR in a research note on Friday, May 24th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $82.50.

AAR Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. It operates through Aviation Services and Expeditionary Services segments. The Aviation Services segment engages in lease and sale of new, overhauled and repaired engine, and airframe parts and components, as well as aircrafts; and offers customized flight hour component inventory and repair, warranty claim management, and outsourcing programs for engine and airframe parts and components.