40,000 AAR Corp. $AIR Shares Sold by Canal Insurance CO

Canal Insurance CO trimmed its stake in AAR Corp. (NYSE:AIR) by 50.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,000 shares of the aerospace company’s stock after selling 40,000 shares during the period. AAR accounts for approximately 1.0% of Canal Insurance CO’s holdings, making the stock its 29th largest position. Canal Insurance CO owned about 0.10% of AAR worth $4,059,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AIR. Whittier Trust Co. of Nevada Inc. bought a new position in AAR in the 1st quarter worth $25,000. Optiver Holding B.V. grew its holdings in AAR by 218.6% during the first quarter. Optiver Holding B.V. now owns 274 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 188 shares during the period. Global Retirement Partners LLC bought a new stake in AAR during the second quarter valued at about $39,000. Farther Finance Advisors LLC grew its holdings in AAR by 191.2% during the third quarter. Farther Finance Advisors LLC now owns 495 shares of the aerospace company’s stock valued at $50,000 after purchasing an additional 325 shares during the period. Finally, McMillan Office Inc. increased its position in AAR by 66.7% in the first quarter. McMillan Office Inc. now owns 500 shares of the aerospace company’s stock worth $55,000 after buying an additional 200 shares in the last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

AAR Price Performance

Shares of AIR traded up $1.64 during trading hours on Tuesday, reaching $100.23. 161,821 shares of the stock traded hands, compared to its average volume of 487,279. The company has a market cap of $4.03 billion, a P/E ratio of 20.53 and a beta of 1.13. The company has a current ratio of 2.83, a quick ratio of 1.28 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $120.52 and its two-hundred day moving average price is $123.15. AAR Corp. has a 52-week low of $76.10 and a 52-week high of $154.00.

AAR (NYSE:AIR) last issued its quarterly earnings results on Monday, September 28th. The aerospace company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.19. The business had revenue of $918.00 million during the quarter, compared to analyst estimates of $878.81 million. AAR had a return on equity of 12.99% and a net margin of 5.55%. AAR’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 EPS. On average, analysts anticipate that AAR Corp. will post 5.89 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on AIR shares. Jefferies Financial Group raised their price objective on AAR from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, September 29th. Weiss Ratings downgraded AAR from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 25th. Wall Street Zen raised shares of AAR from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $145.00 target price on shares of AAR in a report on Monday, September 28th. Finally, KeyCorp restated a “sector weight” rating on shares of AAR in a research note on Wednesday, July 22nd. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.60.

AAR Company Profile

AAR Corp. (NYSE: AIR) is a global aviation services company that provides products and support to commercial airlines, government agencies and defense customers. Its offerings include aircraft parts and supply-chain management, component repair and overhaul, airframe maintenance, engineering services, fleet management and expeditionary logistics.

The company operates through businesses that support the maintenance and operation of aircraft throughout their life cycles. AAR distributes aviation parts and manages inventory, performs maintenance, repair and overhaul services for airframes and aircraft components, and provides logistics and aftermarket support for commercial and government fleets.

Founded in 1955, AAR is headquartered in Wood Dale, Illinois, and serves customers across North America and international markets.