Royce & Associates LP Has $16.13 Million Position in AAR Corp. (NYSE:AIR)

Royce & Associates LP grew its holdings in AAR Corp. (NYSE:AIR) by 8.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 263,180 shares of the aerospace company’s stock after buying an additional 19,620 shares during the quarter. Royce & Associates LP owned 0.73% of AAR worth $16,128,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Loomis Sayles & Co. L P raised its position in AAR by 20.5% in the third quarter. Loomis Sayles & Co. L P now owns 790,267 shares of the aerospace company’s stock worth $51,652,000 after purchasing an additional 134,215 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of AAR by 13.4% in the 3rd quarter. Franklin Resources Inc. now owns 969,741 shares of the aerospace company’s stock worth $59,591,000 after buying an additional 114,460 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of AAR during the 4th quarter worth approximately $6,849,000. Principal Financial Group Inc. boosted its stake in AAR by 18.5% in the 3rd quarter. Principal Financial Group Inc. now owns 500,200 shares of the aerospace company’s stock valued at $32,693,000 after buying an additional 77,974 shares in the last quarter. Finally, Great Lakes Advisors LLC bought a new stake in AAR in the fourth quarter valued at $3,104,000. 90.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AIR shares. StockNews.com downgraded shares of AAR from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. KeyCorp began coverage on shares of AAR in a report on Thursday, January 16th. They set an “overweight” rating and a $83.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AAR has an average rating of “Moderate Buy” and a consensus target price of $81.50.

Insider Transactions at AAR

In related news, CFO Sean M. Gillen sold 17,385 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $66.33, for a total value of $1,153,147.05. Following the completion of the transaction, the chief financial officer now owns 72,326 shares in the company, valued at $4,797,383.58. The trade was a 19.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John Mcclain Holmes III sold 128,427 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $66.76, for a total value of $8,573,786.52. Following the completion of the transaction, the chief executive officer now owns 346,680 shares in the company, valued at $23,144,356.80. The trade was a 27.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,793 shares of company stock worth $12,538,396. Corporate insiders own 4.10% of the company’s stock.

AAR Price Performance

AAR stock opened at $67.18 on Monday. The business’s fifty day moving average is $66.69 and its two-hundred day moving average is $65.29. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.27 and a current ratio of 2.68. The firm has a market cap of $2.41 billion, a P/E ratio of 239.95 and a beta of 1.58. AAR Corp. has a 52 week low of $54.71 and a 52 week high of $76.34.

AAR (NYSE:AIR) last issued its quarterly earnings results on Tuesday, January 7th. The aerospace company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.07. The business had revenue of $686.10 million for the quarter, compared to the consensus estimate of $654.47 million. AAR had a net margin of 0.41% and a return on equity of 10.46%. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. Equities research analysts forecast that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

AAR Company Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Parts Supply segment leases and sells aircraft components and replacement parts. The Repair & Engineering segment provides airframe maintenance services, such as airframe inspection, painting, line maintenance, airframe modification, structural repair, avionics service and installation, exterior and interior refurbishment, and engineering and support services; component repair services comprising maintenance, repair, and overhaul (MRO) services, engine and airframe accessories, and interior refurbishment; and landing gear overhaul services, including repair services on wheels and brakes.