Keeley Teton Advisors LLC Lowers Holdings in AAR Corp. (NYSE:AIR)

Keeley Teton Advisors LLC decreased its stake in AAR Corp. (NYSE:AIR) by 10.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,182 shares of the aerospace company’s stock after selling 3,618 shares during the quarter. Keeley Teton Advisors LLC owned approximately 0.09% of AAR worth $1,927,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of AIR. Allspring Global Investments Holdings LLC boosted its stake in shares of AAR by 889.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 391,076 shares of the aerospace company’s stock worth $23,414,000 after buying an additional 351,540 shares during the last quarter. Norges Bank purchased a new position in AAR during the fourth quarter worth approximately $21,511,000. Peregrine Capital Management LLC purchased a new position in AAR during the first quarter worth approximately $6,073,000. Sei Investments Co. boosted its position in AAR by 730.8% during the first quarter. Sei Investments Co. now owns 97,552 shares of the aerospace company’s stock worth $5,840,000 after purchasing an additional 85,810 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in AAR by 902.9% during the first quarter. Blair William & Co. IL now owns 57,679 shares of the aerospace company’s stock worth $3,453,000 after purchasing an additional 51,928 shares in the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.

AAR Price Performance

Shares of NYSE AIR traded up $0.34 during midday trading on Friday, hitting $66.62. The stock had a trading volume of 306,482 shares, compared to its average volume of 339,788. The company has a market capitalization of $2.38 billion, a PE ratio of 39.19 and a beta of 1.54. The stock has a 50 day simple moving average of $70.22 and a 200-day simple moving average of $66.06. AAR Corp. has a 1 year low of $55.00 and a 1 year high of $76.34. The company has a quick ratio of 1.41, a current ratio of 2.98 and a debt-to-equity ratio of 0.83.

AAR (NYSE:AIR) last released its earnings results on Thursday, July 18th. The aerospace company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.02. The business had revenue of $656.50 million for the quarter, compared to the consensus estimate of $660.05 million. AAR had a return on equity of 10.16% and a net margin of 2.00%. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 earnings per share. On average, sell-side analysts expect that AAR Corp. will post 3.84 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on AIR. Stifel Nicolaus lowered their price target on AAR from $86.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Benchmark increased their price target on AAR from $65.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Finally, Royal Bank of Canada increased their price target on AAR from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.50.

Insider Activity at AAR

In related news, CAO Eric Pachapa sold 5,121 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $70.96, for a total value of $363,386.16. Following the completion of the sale, the chief accounting officer now owns 25,015 shares of the company’s stock, valued at $1,775,064.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Christopher A. Jessup sold 14,973 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $70.05, for a total value of $1,048,858.65. Following the completion of the sale, the senior vice president now owns 51,803 shares of the company’s stock, valued at $3,628,800.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Eric Pachapa sold 5,121 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $70.96, for a total value of $363,386.16. Following the completion of the sale, the chief accounting officer now directly owns 25,015 shares of the company’s stock, valued at approximately $1,775,064.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,023 shares of company stock valued at $2,528,708. 4.30% of the stock is currently owned by insiders.

AAR Profile

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.