Y Intercept Hong Kong Ltd Takes $1.04 Million Position in AAR Corp. $AIR

Y Intercept Hong Kong Ltd bought a new stake in AAR Corp. (NYSE:AIR) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,616 shares of the aerospace company’s stock, valued at approximately $1,042,000.

Several other institutional investors have also modified their holdings of the stock. Amalgamated Bank boosted its holdings in AAR by 1.7% in the 3rd quarter. Amalgamated Bank now owns 10,243 shares of the aerospace company’s stock valued at $918,000 after purchasing an additional 175 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of AAR by 4.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 5,482 shares of the aerospace company’s stock valued at $377,000 after buying an additional 231 shares during the period. California State Teachers Retirement System lifted its holdings in AAR by 1.0% in the second quarter. California State Teachers Retirement System now owns 33,178 shares of the aerospace company’s stock valued at $2,282,000 after acquiring an additional 341 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in AAR in the third quarter worth approximately $30,000. Finally, Osterweis Capital Management Inc. acquired a new stake in AAR during the second quarter worth $26,000. Hedge funds and other institutional investors own 90.74% of the company’s stock.

Insider Buying and Selling

In related news, SVP Christopher A. Jessup sold 23,621 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $97.05, for a total transaction of $2,292,418.05. Following the sale, the senior vice president directly owned 65,769 shares in the company, valued at approximately $6,382,881.45. This represents a 26.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Mcclain Holmes III sold 38,462 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 260,141 shares in the company, valued at approximately $21,721,773.50. This trade represents a 12.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 146,696 shares of company stock valued at $13,477,247 in the last three months. 3.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AIR shares. The Goldman Sachs Group initiated coverage on AAR in a report on Monday, January 26th. They set a “neutral” rating and a $121.00 price target for the company. Royal Bank Of Canada boosted their price target on shares of AAR from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. KeyCorp upped their price objective on shares of AAR from $93.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Truist Financial set a $107.00 target price on shares of AAR in a report on Friday, January 9th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of AAR in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.80.

AAR Price Performance

Shares of AIR opened at $105.79 on Friday. The company has a market cap of $4.19 billion, a P/E ratio of 41.49 and a beta of 1.24. AAR Corp. has a fifty-two week low of $46.51 and a fifty-two week high of $108.36. The company has a quick ratio of 1.31, a current ratio of 2.84 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average price is $90.35 and its 200 day moving average price is $83.07.

AAR (NYSE:AIR) last issued its quarterly earnings results on Tuesday, January 6th. The aerospace company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.02 by $0.16. AAR had a net margin of 3.17% and a return on equity of 12.40%. The company had revenue of $795.30 million during the quarter, compared to analysts’ expectations of $760.95 million. During the same quarter last year, the company posted $0.90 EPS. The firm’s revenue was up 15.9% compared to the same quarter last year. On average, research analysts forecast that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

AAR Company 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.