Sheets Smith Wealth Management Acquires 220 Shares of AAR Corp. (NYSE:AIR)

Sheets Smith Wealth Management boosted its holdings in AAR Corp. (NYSE:AIR) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,015 shares of the aerospace company’s stock after purchasing an additional 220 shares during the quarter. Sheets Smith Wealth Management’s holdings in AAR were worth $430,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Amalgamated Bank increased its holdings in AAR by 1.7% in the 3rd quarter. Amalgamated Bank now owns 10,319 shares of the aerospace company’s stock worth $674,000 after buying an additional 177 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of AAR by 5.3% during the 3rd quarter. Captrust Financial Advisors now owns 3,537 shares of the aerospace company’s stock valued at $231,000 after acquiring an additional 177 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of AAR by 6.1% in the third quarter. HighTower Advisors LLC now owns 3,818 shares of the aerospace company’s stock worth $249,000 after acquiring an additional 220 shares during the period. EverSource Wealth Advisors LLC lifted its position in AAR by 43.0% during the second quarter. EverSource Wealth Advisors LLC now owns 778 shares of the aerospace company’s stock valued at $57,000 after purchasing an additional 234 shares during the period. Finally, Truist Financial Corp lifted its position in AAR by 3.4% during the second quarter. Truist Financial Corp now owns 9,040 shares of the aerospace company’s stock valued at $657,000 after purchasing an additional 296 shares during the period. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

AAR Trading Down 1.4 %

AAR stock opened at $71.19 on Thursday. AAR Corp. has a 12-month low of $54.71 and a 12-month high of $76.34. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 254.27 and a beta of 1.61. The firm has a 50 day moving average of $65.97 and a 200 day moving average of $65.17. The company has a current ratio of 2.68, a quick ratio of 1.27 and a debt-to-equity ratio of 0.84.

AAR (NYSE:AIR) last announced its quarterly earnings data on Tuesday, January 7th. The aerospace company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. AAR had a net margin of 0.41% and a return on equity of 10.46%. The firm had revenue of $686.10 million during the quarter, compared to analysts’ expectations of $654.47 million. During the same period in the prior year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, research analysts predict that AAR Corp. will post 3.77 earnings per share for the current year.

Analysts Set New Price Targets

AIR has been the subject of a number of research reports. Benchmark reiterated a “buy” rating and set a $83.00 target price on shares of AAR in a research note on Friday, October 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $75.00 price objective on shares of AAR in a research report on Monday, November 4th. StockNews.com raised AAR from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Finally, KeyCorp assumed coverage on shares of AAR in a report on Thursday, January 16th. They issued an “overweight” rating and a $83.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $81.50.

Insider Buying and Selling at AAR

In related news, CFO Sean M. Gillen sold 17,385 shares of AAR stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $66.33, for a total transaction of $1,153,147.05. Following the sale, the chief financial officer now owns 72,326 shares of the company’s stock, valued at approximately $4,797,383.58. This trade represents a 19.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Mcclain Holmes III sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $70.81, for a total value of $354,050.00. Following the completion of the transaction, the chief executive officer now owns 341,680 shares of the company’s stock, valued at $24,194,360.80. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,793 shares of company stock valued at $12,538,396 over the last ninety days. 4.10% of the stock is currently owned by company insiders.

AAR 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.