AAR Corp. (NYSE:AIR) Stock Position Decreased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its holdings in AAR Corp. (NYSE:AIR) by 72.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 200,840 shares of the aerospace company’s stock after selling 532,117 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.56% of AAR worth $12,370,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AIR. National Bank of Canada FI purchased a new stake in shares of AAR in the third quarter valued at $25,000. Toth Financial Advisory Corp lifted its holdings in shares of AAR by 133.3% in the fourth quarter. Toth Financial Advisory Corp now owns 1,400 shares of the aerospace company’s stock valued at $86,000 after purchasing an additional 800 shares in the last quarter. KBC Group NV lifted its holdings in shares of 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 purchasing an additional 328 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of AAR by 52.1% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,711 shares of the aerospace company’s stock valued at $166,000 after purchasing an additional 929 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. purchased a new stake in shares of AAR in the fourth quarter valued at $203,000. Hedge funds and other institutional investors own 90.74% of the company’s stock.

AAR Price Performance

NYSE AIR opened at $64.84 on Tuesday. AAR Corp. has a fifty-two week low of $54.71 and a fifty-two week high of $76.34. The stock’s 50-day moving average is $65.85 and its two-hundred day moving average is $64.96. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.68 and a quick ratio of 1.27. The firm has a market cap of $2.33 billion, a P/E ratio of 231.58 and a beta of 1.61.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AIR. Royal Bank of Canada reiterated an “outperform” rating and set a $75.00 price objective on shares of AAR in a report on Monday, November 4th. StockNews.com lowered AAR from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. Finally, KeyCorp began coverage on AAR in a report on Thursday, January 16th. They set an “overweight” rating and a $83.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.50.

Insider Activity

In related news, SVP Christopher A. Jessup sold 33,481 shares of AAR stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $70.40, for a total transaction of $2,357,062.40. Following the sale, the senior vice president now directly owns 63,209 shares of the company’s stock, valued at $4,449,913.60. This trade represents a 34.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jessica A. Garascia sold 1,500 shares of AAR 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 sale, the chief accounting officer now directly owns 37,565 shares in the company, valued at approximately $2,513,098.50. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 185,793 shares of company stock valued at $12,538,396. 4.10% of the stock is owned by insiders.

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.