PNC Financial Services Group Inc. Lowers Stock Position in AAR Corp. (NYSE:AIR)

PNC Financial Services Group Inc. decreased its holdings in AAR Corp. (NYSE:AIR) by 13.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,372 shares of the aerospace company’s stock after selling 706 shares during the quarter. PNC Financial Services Group Inc.’s holdings in AAR were worth $268,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of AAR by 9.7% in the third quarter. JPMorgan Chase & Co. now owns 40,737 shares of the aerospace company’s stock valued at $2,663,000 after buying an additional 3,612 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of AAR during the 4th quarter worth $1,539,000. Charles Schwab Investment Management Inc. boosted its position in shares of AAR by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 538,125 shares of the aerospace company’s stock worth $32,976,000 after purchasing an additional 19,863 shares in the last quarter. Shelton Wealth Management LLC purchased a new position in shares of AAR in the 4th quarter valued at about $1,068,000. Finally, Barclays PLC increased its holdings in shares of AAR by 269.4% in the 3rd quarter. Barclays PLC now owns 66,223 shares of the aerospace company’s stock valued at $4,328,000 after purchasing an additional 48,298 shares in the last quarter. 90.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AIR. KeyCorp initiated coverage on AAR in a report on Thursday, January 16th. They issued an “overweight” rating and a $83.00 price target on the stock. StockNews.com lowered AAR from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $81.50.

AAR Price Performance

AAR stock opened at $67.83 on Friday. AAR Corp. has a 1 year low of $54.71 and a 1 year high of $76.34. The firm has a 50 day moving average price of $66.98 and a 200 day moving average price of $65.38. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 242.26 and a beta of 1.58. 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 (NYSE:AIR) last announced its quarterly 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. The company had revenue of $686.10 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 earnings per share. Sell-side analysts predict that AAR Corp. will post 3.77 earnings per share for the current year.

Insider Activity at AAR

In other AAR news, CEO John Mcclain Holmes III sold 5,000 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $70.81, for a total transaction of $354,050.00. Following the transaction, the chief executive officer now owns 341,680 shares in the company, valued at $24,194,360.80. The trade was a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sean M. Gillen sold 17,385 shares of the 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 completion of the sale, the chief financial officer now owns 72,326 shares of the company’s stock, valued at approximately $4,797,383.58. This trade represents a 19.38 % decrease in their position. 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. Company insiders own 4.10% of the company’s stock.

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.