AAR Corp. $AIR Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC cut its holdings in shares of AAR Corp. (NYSE:AIR) by 62.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,870 shares of the aerospace company’s stock after selling 86,845 shares during the period. First Eagle Investment Management LLC owned about 0.15% of AAR worth $3,637,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AIR. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of AAR in the first quarter valued at $209,000. Raymond James Financial Inc. increased its holdings in AAR by 41.8% during the 1st quarter. Raymond James Financial Inc. now owns 158,461 shares of the aerospace company’s stock worth $8,872,000 after purchasing an additional 46,696 shares during the period. Russell Investments Group Ltd. increased its holdings in AAR by 69,568.8% during the 1st quarter. Russell Investments Group Ltd. now owns 22,294 shares of the aerospace company’s stock worth $1,248,000 after purchasing an additional 22,262 shares during the period. Natixis Advisors LLC raised 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 purchasing an additional 8,601 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in shares of AAR in the 1st quarter valued at about $294,000. Institutional investors and hedge funds own 90.74% of the company’s stock.

Insiders Place Their Bets

In other AAR news, CEO John Mcclain Holmes III sold 38,462 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $83.50, for a total transaction of $3,211,577.00. Following the transaction, the chief executive officer directly owned 260,141 shares of the company’s stock, valued at approximately $21,721,773.50. This trade represents a 12.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AIR shares. Wall Street Zen upgraded shares of AAR from a “hold” rating to a “buy” rating in a research note on Sunday, November 2nd. Royal Bank Of Canada restated an “outperform” rating and issued a $85.00 price objective on shares of AAR in a report on Wednesday, September 24th. KeyCorp lifted their price objective on shares of AAR from $86.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Truist Financial increased their target price on AAR from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of AAR in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.33.

AAR Trading Up 0.3%

NYSE:AIR opened at $82.46 on Friday. The company has a market capitalization of $3.23 billion, a PE ratio of 105.71 and a beta of 1.53. AAR Corp. has a 52-week low of $46.51 and a 52-week high of $89.69. The stock’s 50 day moving average price is $80.96 and its 200 day moving average price is $72.82. 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 (NYSE:AIR) last issued its quarterly earnings data on Wednesday, May 28th. The aerospace company reported $0.83 earnings per share for the quarter. The company had revenue of $553.30 million during the quarter. AAR had a return on equity of 12.29% and a net margin of 1.01%. On average, research analysts anticipate that AAR Corp. will post 3.77 EPS for the current year.

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.