Stanley Laman Group Ltd. Decreases Stake in AAR Corp. $AIR

Stanley Laman Group Ltd. cut its holdings in shares of AAR Corp. (NYSE:AIR) by 15.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,425 shares of the aerospace company’s stock after selling 10,342 shares during the quarter. Stanley Laman Group Ltd.’s holdings in AAR were worth $5,239,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its stake in AAR by 10.9% in the 2nd quarter. State Street Corp now owns 1,917,821 shares of the aerospace company’s stock worth $131,927,000 after purchasing an additional 188,406 shares in the last quarter. Fred Alger Management LLC increased its holdings in shares of AAR by 32.6% in the first quarter. Fred Alger Management LLC now owns 533,770 shares of the aerospace company’s stock valued at $29,886,000 after purchasing an additional 131,092 shares during the last quarter. Marsico Capital Management LLC purchased a new position in AAR during the second quarter worth approximately $4,801,000. PDT Partners LLC boosted its stake in AAR by 758.4% during the second quarter. PDT Partners LLC now owns 66,094 shares of the aerospace company’s stock worth $4,547,000 after buying an additional 58,394 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in AAR by 4.2% in the 2nd quarter. Invesco Ltd. now owns 1,208,796 shares of the aerospace company’s stock valued at $83,153,000 after buying an additional 48,376 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Price Performance

Shares of AIR opened at $84.52 on Monday. AAR Corp. has a 1-year low of $46.51 and a 1-year high of $89.69. The stock has a market cap of $3.31 billion, a PE ratio of 108.37 and a beta of 1.24. The firm has a 50-day simple moving average of $82.73 and a two-hundred day simple moving average of $78.84. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.91 and a quick ratio of 1.31.

AAR (NYSE:AIR) last issued its quarterly earnings data on Wednesday, May 28th. The aerospace company reported $0.83 EPS for the quarter. The firm had revenue of $553.30 million for the quarter. AAR had a net margin of 1.01% and a return on equity of 12.29%. As a group, analysts forecast that AAR Corp. will post 3.77 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Zacks Research lowered AAR from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 29th. Weiss Ratings restated a “hold (c-)” rating on shares of AAR in a research report on Monday, December 29th. Jefferies Financial Group started coverage on shares of AAR in a report on Wednesday, December 17th. They issued a “buy” rating and a $100.00 target price on the stock. Royal Bank Of Canada increased their price target on shares of AAR from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, November 26th. Finally, Truist Financial lifted their price target on shares of AAR from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.25.

Insider Buying and Selling

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

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.