Comerica Bank grew its holdings in shares of AAR Corp. (NYSE:AIR – Free Report) by 18.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 31,779 shares of the aerospace company’s stock after acquiring an additional 4,918 shares during the period. Comerica Bank’s holdings in AAR were worth $2,631,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Osterweis Capital Management Inc. bought a new position in shares of AAR during the second quarter valued at $26,000. Morse Asset Management Inc bought a new position in shares of AAR during the third quarter valued at $27,000. NBC Securities Inc. bought a new position in shares of AAR during the fourth quarter valued at $28,000. Salomon & Ludwin LLC acquired a new stake in shares of AAR during the third quarter worth $30,000. Finally, Optiver Holding B.V. acquired a new stake in shares of AAR during the third quarter worth $31,000. Institutional investors own 90.74% of the company’s stock.
Wall Street Analysts Forecast Growth
AIR has been the subject of several recent analyst reports. Royal Bank Of Canada increased their price objective on shares of AAR from $105.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. Jefferies Financial Group increased their price objective on shares of AAR to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. The Goldman Sachs Group initiated coverage on shares of AAR in a research report on Monday, January 26th. They set a “neutral” rating and a $121.00 price objective for the company. Wall Street Zen upgraded shares of AAR from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Finally, Weiss Ratings upgraded shares of AAR from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.20.
Insiders Place Their Bets
In other AAR news, CFO Sarah Louise Flanagan sold 10,750 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $108.56, for a total value of $1,167,020.00. Following the completion of the sale, the chief financial officer directly owned 32,848 shares in the company, valued at approximately $3,565,978.88. This trade represents a 24.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John Mcclain Holmes III sold 26,175 shares of the firm’s stock in a transaction on Friday, March 27th. The stock was sold at an average price of $107.60, for a total transaction of $2,816,430.00. Following the completion of the sale, the chief executive officer owned 235,064 shares of the company’s stock, valued at $25,292,886.40. The trade was a 10.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 96,925 shares of company stock valued at $10,728,050 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.
AAR Trading Down 0.6%
NYSE:AIR opened at $109.68 on Tuesday. The company has a current ratio of 2.70, a quick ratio of 1.23 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of 24.32 and a beta of 1.14. The firm has a fifty day simple moving average of $113.00 and a two-hundred day simple moving average of $98.94. AAR Corp. has a 12 month low of $55.90 and a 12 month high of $127.21.
AAR (NYSE:AIR – Get Free Report) last posted its quarterly earnings results on Tuesday, March 24th. The aerospace company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.04. The business had revenue of $845.10 million during the quarter, compared to analysts’ expectations of $812.58 million. AAR had a net margin of 5.46% and a return on equity of 12.39%. The business’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the company posted $0.99 earnings per share. Analysts expect that AAR Corp. will post 4.79 EPS for the current fiscal year.
About AAR
AAR Corp. (NYSE: AIR) is a global provider of aviation products and services to commercial, government and defense customers. The company offers a comprehensive portfolio of maintenance, repair and overhaul (MRO) solutions, component repair and overhaul, and engineering services designed to support a wide variety of fixed-wing and rotary aircraft. Leveraging FAA and EASA certifications, AAR delivers turnkey maintenance programs and ad hoc repair services that enhance aircraft availability and reliability.
In its Aviation Supply Chain Services segment, AAR sources, stores and distributes parts for both commercial airlines and military operators.
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