AAR Corp. (NYSE:AIR) Stock Holdings Lessened by Truist Financial Corp

Truist Financial Corp trimmed its stake in AAR Corp. (NYSE:AIR) by 6.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,715 shares of the aerospace company’s stock after selling 558 shares during the quarter. Truist Financial Corp’s holdings in AAR were worth $473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in AAR by 18.5% in the third quarter. Principal Financial Group Inc. now owns 500,200 shares of the aerospace company’s stock worth $32,693,000 after buying an additional 77,974 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in AAR by 9.7% in the third quarter. JPMorgan Chase & Co. now owns 40,737 shares of the aerospace company’s stock worth $2,663,000 after buying an additional 3,612 shares during the last quarter. SG Americas Securities LLC acquired a new position in AAR in the fourth quarter worth approximately $1,539,000. Shelton Wealth Management LLC acquired a new position in AAR in the fourth quarter worth approximately $1,068,000. Finally, Barclays PLC increased its holdings in AAR by 269.4% in the third quarter. Barclays PLC now owns 66,223 shares of the aerospace company’s stock worth $4,328,000 after buying an additional 48,298 shares during the last quarter. 90.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Royal Bank of Canada restated an “outperform” rating and issued a $75.00 price objective on shares of AAR in a report on Monday, November 4th. KeyCorp started coverage on AAR in a report on Thursday, January 16th. They issued an “overweight” rating and a $83.00 price objective on the stock. Finally, StockNews.com downgraded AAR from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.50.

Insider Transactions at AAR

In related news, SVP Christopher A. Jessup sold 33,481 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $70.40, for a total value of $2,357,062.40. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jessica A. Garascia sold 1,500 shares of the firm’s stock in a transaction on 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 directly owns 37,565 shares of the company’s stock, 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 quarter, insiders have sold 185,793 shares of company stock worth $12,538,396. Insiders own 4.10% of the company’s stock.

AAR Trading Down 2.9 %

Shares of AIR stock opened at $63.16 on Tuesday. AAR Corp. has a 12 month low of $54.71 and a 12 month high of $76.34. The company has a quick ratio of 1.27, a current ratio of 2.68 and a debt-to-equity ratio of 0.84. The business’s 50 day moving average is $65.94 and its two-hundred day moving average is $65.22. The company has a market cap of $2.27 billion, a PE ratio of 225.58 and a beta of 1.61.

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

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.