Marsico Capital Management LLC decreased its holdings in AAR Corp. (NYSE:AIR – Free Report) by 24.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,458 shares of the aerospace company’s stock after selling 57,382 shares during the quarter. Marsico Capital Management LLC’s holdings in AAR were worth $14,940,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swiss National Bank raised its stake in shares of AAR by 11.6% during the 4th quarter. Swiss National Bank now owns 78,100 shares of the aerospace company’s stock valued at $6,466,000 after buying an additional 8,100 shares during the last quarter. Great Lakes Advisors LLC increased its stake in shares of AAR by 0.7% in the 4th quarter. Great Lakes Advisors LLC now owns 34,643 shares of the aerospace company’s stock valued at $2,868,000 after purchasing an additional 257 shares in the last quarter. Nuveen LLC increased its stake in shares of AAR by 62.0% in the 4th quarter. Nuveen LLC now owns 119,757 shares of the aerospace company’s stock valued at $9,915,000 after purchasing an additional 45,854 shares in the last quarter. Xponance LLC increased its stake in shares of AAR by 9.8% in the 4th quarter. Xponance LLC now owns 3,054 shares of the aerospace company’s stock valued at $253,000 after purchasing an additional 273 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of AAR by 297.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 594,668 shares of the aerospace company’s stock valued at $49,233,000 after purchasing an additional 445,026 shares in the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.
Insider Transactions at AAR
In other AAR news, CEO John Mcclain Holmes III sold 26,175 shares of the business’s stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $107.60, for a total value of $2,816,430.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.60% of the stock is currently owned by insiders.
AAR Trading Up 8.5%
AAR (NYSE:AIR – Get Free Report) last released its quarterly earnings data on Tuesday, March 24th. The aerospace company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. AAR had a return on equity of 12.39% and a net margin of 5.46%.The firm had revenue of $845.10 million for the quarter, compared to analysts’ expectations of $812.58 million. During the same period in the prior year, the firm posted $0.99 earnings per share. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, equities research analysts expect that AAR Corp. will post 4.97 EPS for the current year.
Analysts Set New Price Targets
Several brokerages recently weighed in on AIR. Wall Street Zen upgraded AAR from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. Zacks Research cut AAR from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Truist Financial upgraded AAR to a “strong-buy” rating in a report on Friday, May 1st. Royal Bank Of Canada boosted their target price on AAR from $105.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. Finally, KeyCorp boosted their target price on AAR from $120.00 to $132.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, AAR presently has a consensus rating of “Moderate Buy” and an average target price of $131.20.
Get Our Latest Analysis on AAR
AAR Profile
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.
Read More
- Five stocks we like better than AAR
- Microsoft Just Gave Investors 3 Dates They Can’t Afford to Ignore
- NVIDIA’s Outlook Gains Momentum: Stock Price to Follow
- The World Cup Is Coming—These 3 Stocks Could Cash In
- Spotify’s “North Star” Outlook Was Music to Investors Ears
Want to see what other hedge funds are holding AIR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AAR Corp. (NYSE:AIR – Free Report).
Receive News & Ratings for AAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AAR and related companies with MarketBeat.com's FREE daily email newsletter.
