Legal & General Group Plc Boosts Stake in AAR Corp. $AIR

Legal & General Group Plc grew its stake in shares of AAR Corp. (NYSE:AIR) by 5.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 122,491 shares of the aerospace company’s stock after buying an additional 6,606 shares during the quarter. Legal & General Group Plc owned 0.31% of AAR worth $10,141,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its position in shares of AAR by 14.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,036 shares of the aerospace company’s stock valued at $91,000 after buying an additional 134 shares in the last quarter. Arizona State Retirement System raised its position in shares of AAR by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 10,683 shares of the aerospace company’s stock valued at $958,000 after buying an additional 147 shares in the last quarter. CWM LLC raised its position in shares of AAR by 19.3% during the 4th quarter. CWM LLC now owns 950 shares of the aerospace company’s stock valued at $79,000 after buying an additional 154 shares in the last quarter. Morse Asset Management Inc purchased a new stake in shares of AAR during the 3rd quarter valued at $27,000. Finally, Danske Bank A S purchased a new stake in shares of AAR during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 90.74% of the company’s stock.

Analyst Upgrades and Downgrades

AIR has been the topic of several research reports. Jefferies Financial Group raised their price objective on shares of AAR to $150.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Zacks Research cut shares of AAR from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Royal Bank Of Canada raised their price objective on shares of AAR from $105.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, March 25th. Wall Street Zen cut shares of AAR from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Truist Financial upgraded shares of AAR to a “strong-buy” rating in a research report on Friday, May 1st. One 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.20.

Insider Buying and Selling

In related news, CEO John Mcclain Holmes III sold 60,000 shares of AAR stock in a transaction on Thursday, March 26th. The shares were sold at an average price of $112.41, for a total value of $6,744,600.00. Following the transaction, the chief executive officer owned 235,064 shares in the company, valued at $26,423,544.24. This trade represents a 20.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.60% of the stock is currently owned by insiders.

AAR Price Performance

Shares of NYSE:AIR opened at $115.23 on Friday. The stock has a market cap of $4.58 billion, a PE ratio of 25.55 and a beta of 1.13. The company’s fifty day moving average is $112.97 and its 200 day moving average is $103.38. AAR Corp. has a 52 week low of $64.99 and a 52 week high of $127.21. The company has a quick ratio of 1.23, a current ratio of 2.70 and a debt-to-equity ratio of 0.54.

AAR (NYSE:AIR) last issued its 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 company had revenue of $845.10 million for 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 firm’s revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 EPS. Research analysts anticipate that AAR Corp. will post 4.97 earnings per share for the current 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.