KBC Group NV Purchases 563 Shares of AAR Corp. (NYSE:AIR)

KBC Group NV grew its position in shares of AAR Corp. (NYSE:AIR) by 42.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,887 shares of the aerospace company’s stock after buying an additional 563 shares during the period. KBC Group NV’s holdings in AAR were worth $116,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its position in AAR by 5.2% during the second quarter. The Manufacturers Life Insurance Company now owns 19,454 shares of the aerospace company’s stock worth $1,414,000 after acquiring an additional 958 shares during the period. Truist Financial Corp increased its holdings in shares of AAR by 3.4% during the second quarter. Truist Financial Corp now owns 9,040 shares of the aerospace company’s stock worth $657,000 after purchasing an additional 296 shares during the period. Inspire Investing LLC raised its position in shares of AAR by 30.4% in the third quarter. Inspire Investing LLC now owns 6,300 shares of the aerospace company’s stock valued at $412,000 after buying an additional 1,470 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of AAR in the third quarter valued at approximately $229,000. Finally, Teamwork Financial Advisors LLC acquired a new stake in AAR during the third quarter worth approximately $310,000. Institutional investors and hedge funds own 90.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. StockNews.com cut AAR from a “hold” rating to a “sell” rating in a report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $75.00 price target on shares of AAR in a research note on Monday, November 4th. Finally, KeyCorp began coverage on shares of AAR in a research note on Thursday, January 16th. They set an “overweight” rating and a $83.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.50.

AAR Trading Down 1.1 %

Shares of AIR opened at $67.27 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.27 and a current ratio of 2.68. AAR Corp. has a 52-week low of $54.71 and a 52-week high of $76.34. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 240.26 and a beta of 1.61. The business’s fifty day moving average is $66.07 and its 200-day moving average is $64.91.

AAR (NYSE:AIR) last issued its earnings results on Tuesday, January 7th. The aerospace company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.83 by $0.07. AAR had a return on equity of 10.46% and a net margin of 0.41%. The firm had revenue of $686.10 million during the quarter, compared to the consensus estimate of $654.47 million. During the same quarter in the previous year, the firm earned $0.81 earnings per share. The business’s quarterly revenue was up 25.8% on a year-over-year basis. Equities analysts anticipate that AAR Corp. will post 3.77 EPS for the current fiscal year.

Insider Activity at AAR

In other AAR news, CAO Jessica A. Garascia sold 1,500 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $66.90, for a total value of $100,350.00. Following the completion of the transaction, the chief accounting officer now owns 37,565 shares of the company’s stock, valued at $2,513,098.50. This represents a 3.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sean M. Gillen sold 17,385 shares of AAR stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $66.33, for a total value of $1,153,147.05. Following the sale, the chief financial officer now directly owns 72,326 shares in the company, valued at $4,797,383.58. The trade was a 19.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 185,793 shares of company stock valued at $12,538,396 in the last quarter. Insiders own 4.10% of the company’s stock.

AAR Profile

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.