AAR Corp. $AIR Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its stake in shares of AAR Corp. (NYSE:AIR) by 58.8% during the second quarter, Holdings Channel reports. The firm owned 78,897 shares of the aerospace company’s stock after selling 112,626 shares during the period. Allspring Global Investments Holdings LLC’s holdings in AAR were worth $5,481,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in AIR. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in AAR in the 1st quarter valued at approximately $209,000. Raymond James Financial Inc. increased its position in AAR by 41.8% in the 1st quarter. Raymond James Financial Inc. now owns 158,461 shares of the aerospace company’s stock valued at $8,872,000 after acquiring an additional 46,696 shares during the period. Russell Investments Group Ltd. increased its position in AAR by 69,568.8% in the 1st quarter. Russell Investments Group Ltd. now owns 22,294 shares of the aerospace company’s stock valued at $1,248,000 after acquiring an additional 22,262 shares during the period. Natixis Advisors LLC increased its position in AAR by 57.4% in the 1st quarter. Natixis Advisors LLC now owns 23,591 shares of the aerospace company’s stock valued at $1,321,000 after acquiring an additional 8,601 shares during the period. Finally, Teacher Retirement System of Texas acquired a new stake in AAR in the 1st quarter valued at approximately $294,000. 90.74% of the stock is currently owned by institutional investors and hedge funds.

AAR Stock Performance

Shares of AAR stock opened at $84.16 on Tuesday. The stock has a market cap of $3.29 billion, a PE ratio of 107.90 and a beta of 1.52. The business has a fifty day simple moving average of $78.54 and a 200-day simple moving average of $69.67. The company has a quick ratio of 1.31, a current ratio of 2.91 and a debt-to-equity ratio of 0.82. AAR Corp. has a 12 month low of $46.51 and a 12 month high of $89.69.

AAR (NYSE:AIR) last announced its quarterly earnings data on Wednesday, May 28th. The aerospace company reported $0.83 earnings per share (EPS) for the quarter. AAR had a return on equity of 12.29% and a net margin of 1.01%.The business had revenue of $553.30 million during the quarter. On average, sell-side analysts anticipate that AAR Corp. will post 3.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on AIR. Zacks Research upgraded AAR from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 30th. Truist Financial raised their target price on AAR from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $85.00 price target on shares of AAR in a research note on Wednesday, September 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of AAR in a research note on Wednesday, October 8th. Finally, KeyCorp increased their price target on AAR from $86.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, AAR currently has an average rating of “Buy” and an average target price of $89.33.

Insider Buying and Selling

In other news, Director Jennifer L. Vogel sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $78.07, for a total value of $546,490.00. Following the sale, the director directly owned 22,970 shares of the company’s stock, valued at approximately $1,793,267.90. This trade represents a 23.36% 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, CEO John Mcclain Holmes III sold 31,551 shares of AAR stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $78.03, for a total value of $2,461,924.53. Following the sale, the chief executive officer directly owned 360,921 shares in the company, valued at approximately $28,162,665.63. This trade represents a 8.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,182 shares of company stock valued at $7,331,452 in the last three months. 3.60% of the stock is currently owned by corporate 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.