New England Research & Management Inc. Raises Position in AAR Corp. (NYSE:AIR)

New England Research & Management Inc. raised its stake in shares of AAR Corp. (NYSE:AIR) by 59.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,300 shares of the aerospace company’s stock after purchasing an additional 10,150 shares during the period. New England Research & Management Inc. owned 0.08% of AAR worth $1,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quadrature Capital Ltd grew its stake in AAR by 77.3% in the fourth quarter. Quadrature Capital Ltd now owns 29,982 shares of the aerospace company’s stock worth $1,870,000 after purchasing an additional 13,075 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in AAR by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 531,786 shares of the aerospace company’s stock valued at $33,183,000 after acquiring an additional 17,465 shares in the last quarter. Gotham Asset Management LLC boosted its position in AAR by 20.4% during the 3rd quarter. Gotham Asset Management LLC now owns 5,867 shares of the aerospace company’s stock valued at $349,000 after acquiring an additional 996 shares in the last quarter. BNP Paribas Financial Markets boosted its position in AAR by 92.3% during the 4th quarter. BNP Paribas Financial Markets now owns 59,333 shares of the aerospace company’s stock valued at $3,702,000 after acquiring an additional 28,485 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in AAR by 39.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 40,800 shares of the aerospace company’s stock valued at $2,429,000 after acquiring an additional 11,445 shares in the last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AAR news, CEO John Mcclain Holmes III sold 28,145 shares of AAR stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $57.96, for a total transaction of $1,631,284.20. Following the completion of the transaction, the chief executive officer now owns 303,621 shares in the company, valued at approximately $17,597,873.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other AAR news, SVP Christopher A. Jessup sold 15,929 shares of AAR stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $70.09, for a total transaction of $1,116,463.61. Following the completion of the transaction, the senior vice president now owns 51,803 shares in the company, valued at approximately $3,630,872.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Mcclain Holmes III sold 28,145 shares of AAR stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $57.96, for a total value of $1,631,284.20. Following the transaction, the chief executive officer now owns 303,621 shares of the company’s stock, valued at approximately $17,597,873.16. The disclosure for this sale can be found here. Insiders sold 100,770 shares of company stock worth $6,387,031 in the last 90 days. Insiders own 4.30% of the company’s stock.

AAR Stock Performance

Shares of AIR stock opened at $72.70 on Friday. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 42.76 and a beta of 1.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.90 and a quick ratio of 1.33. The business has a fifty day moving average of $69.93 and a 200 day moving average of $65.34. AAR Corp. has a 1 year low of $55.00 and a 1 year high of $73.95.

Analyst Ratings Changes

Several analysts have recently commented on AIR shares. Benchmark increased their price objective on AAR from $65.00 to $83.00 and gave the company a “buy” rating in a report on Monday, April 15th. Stifel Nicolaus increased their price objective on AAR from $81.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $80.00 price objective on shares of AAR in a report on Friday, May 24th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AAR presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.50.

About AAR

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. It operates through Aviation Services and Expeditionary Services segments. The Aviation Services segment engages in lease and sale of new, overhauled and repaired engine, and airframe parts and components, as well as aircrafts; and offers customized flight hour component inventory and repair, warranty claim management, and outsourcing programs for engine and airframe parts and components.