AAR Corp. $AIR Stock Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. reduced its holdings in shares of AAR Corp. (NYSE:AIR) by 8.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 75,900 shares of the aerospace company’s stock after selling 7,400 shares during the period. Hennessy Advisors Inc.’s holdings in AAR were worth $7,702,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AIR. BlackRock Inc. acquired a new position in shares of AAR during the 2nd quarter worth about $925,068,000. Principal Financial Group Inc. raised its holdings in AAR by 4.9% during the first quarter. Principal Financial Group Inc. now owns 675,686 shares of the aerospace company’s stock worth $73,961,000 after acquiring an additional 31,583 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in AAR during the second quarter worth about $84,251,000. Emerald Advisers LLC boosted its position in AAR by 6.3% during the first quarter. Emerald Advisers LLC now owns 445,693 shares of the aerospace company’s stock valued at $48,786,000 after purchasing an additional 26,223 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its position in AAR by 10.9% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 280,257 shares of the aerospace company’s stock valued at $30,677,000 after purchasing an additional 27,485 shares during the last quarter. 90.74% of the stock is owned by institutional investors.

Insider Buying and Selling at AAR

In other news, CEO John Holmes, III sold 35,000 shares of the firm’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $97.41, for a total transaction of $3,409,350.00. Following the completion of the sale, the chief executive officer owned 406,362 shares in the company, valued at approximately $39,583,722.42. This trade represents a 7.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ellen M. Lord sold 4,341 shares of the firm’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $104.64, for a total transaction of $454,242.24. Following the sale, the director owned 5,814 shares of the company’s stock, valued at approximately $608,376.96. This represents a 42.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 43,582 shares of company stock valued at $4,288,710 in the last ninety days. Insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AIR shares. Zacks Research downgraded AAR from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Guggenheim reiterated a “neutral” rating on shares of AAR in a research note on Tuesday, September 29th. Jefferies Financial Group increased their price objective on AAR from $155.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, September 29th. Royal Bank Of Canada reissued an “outperform” rating and issued a $145.00 target price on shares of AAR in a research note on Monday, September 28th. Finally, Truist Financial boosted their target price on shares of AAR from $128.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, AAR presently has an average rating of “Moderate Buy” and a consensus price target of $140.60.

AAR Stock Performance

AIR opened at $100.20 on Monday. The company has a quick ratio of 1.28, a current ratio of 2.83 and a debt-to-equity ratio of 0.50. AAR Corp. has a 12-month low of $76.10 and a 12-month high of $154.00. The business has a 50 day moving average of $112.73 and a 200-day moving average of $118.41. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 20.53 and a beta of 1.13.

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

About AAR

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.