KLP Kapitalforvaltning AS Takes $453,000 Position in AAR Corp. (NYSE:AIR)

KLP Kapitalforvaltning AS bought a new stake in shares of AAR Corp. (NYSE:AIR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,400 shares of the aerospace company’s stock, valued at approximately $453,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Franklin Resources Inc. raised its position in shares of AAR by 13.4% in the 3rd quarter. Franklin Resources Inc. now owns 969,741 shares of the aerospace company’s stock worth $59,591,000 after acquiring an additional 114,460 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of AAR in the 4th quarter worth about $6,849,000. Principal Financial Group Inc. increased its stake in shares of AAR by 18.5% in the 3rd quarter. Principal Financial Group Inc. now owns 500,200 shares of the aerospace company’s stock worth $32,693,000 after acquiring an additional 77,974 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in AAR during the fourth quarter worth about $3,104,000. Finally, Barclays PLC boosted its stake in AAR by 269.4% during the third quarter. Barclays PLC now owns 66,223 shares of the aerospace company’s stock worth $4,328,000 after acquiring an additional 48,298 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors.

AAR Stock Performance

Shares of AAR stock opened at $50.09 on Friday. The company has a current ratio of 2.68, a quick ratio of 1.27 and a debt-to-equity ratio of 0.84. The stock’s fifty day moving average price is $65.05 and its 200-day moving average price is $65.04. The firm has a market cap of $1.81 billion, a P/E ratio of 178.90 and a beta of 1.32. AAR Corp. has a 12 month low of $48.80 and a 12 month high of $76.34.

AAR (NYSE:AIR) last released its quarterly earnings results on Thursday, March 27th. The aerospace company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.96 by $0.03. The firm had revenue of $678.20 million during the quarter, compared to analyst estimates of $699.13 million. AAR had a return on equity of 10.46% and a net margin of 0.41%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. On average, equities research analysts expect that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AAR news, CEO John Mcclain Holmes III sold 5,000 shares of the stock in a transaction that occurred on 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 approximately $24,194,360.80. This represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $2,357,062.40. Following the completion of the sale, the senior vice president now owns 63,209 shares in the company, valued at approximately $4,449,913.60. The trade was a 34.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 185,793 shares of company stock valued at $12,538,396 over the last quarter. 4.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AIR has been the topic of several analyst reports. StockNews.com downgraded AAR from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. Truist Financial dropped their target price on shares of AAR from $81.00 to $78.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Finally, KeyCorp decreased their price objective on shares of AAR from $83.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.20.

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.