Bryce Point Capital LLC Makes New Investment in AAR Corp. (NYSE:AIR)

Bryce Point Capital LLC bought a new stake in shares of AAR Corp. (NYSE:AIR) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 18,402 shares of the aerospace company’s stock, valued at approximately $1,128,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. FMR LLC boosted its position in AAR by 24.2% during the third quarter. FMR LLC now owns 109,543 shares of the aerospace company’s stock valued at $7,160,000 after purchasing an additional 21,342 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of AAR by 5.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,843 shares of the aerospace company’s stock valued at $643,000 after buying an additional 551 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of AAR by 1.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 76,451 shares of the aerospace company’s stock valued at $4,997,000 after buying an additional 879 shares in the last quarter. Captrust Financial Advisors increased its holdings in AAR by 5.3% in the third quarter. Captrust Financial Advisors now owns 3,537 shares of the aerospace company’s stock worth $231,000 after buying an additional 177 shares during the last quarter. Finally, Verition Fund Management LLC raised its position in AAR by 28.7% during the third quarter. Verition Fund Management LLC now owns 18,017 shares of the aerospace company’s stock valued at $1,178,000 after acquiring an additional 4,015 shares in the last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AAR

In other news, CEO John Mcclain Holmes III sold 128,427 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $66.76, for a total transaction of $8,573,786.52. Following the transaction, the chief executive officer now owns 346,680 shares in the company, valued at approximately $23,144,356.80. The trade was a 27.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Jessica A. Garascia sold 1,500 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $66.90, for a total transaction of $100,350.00. Following the transaction, the chief accounting officer now directly owns 37,565 shares of the company’s stock, valued at $2,513,098.50. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,793 shares of company stock worth $12,538,396 in the last 90 days. 4.10% of the stock is owned by company insiders.

AAR Price Performance

NYSE AIR opened at $57.55 on Thursday. AAR Corp. has a 1 year low of $54.22 and a 1 year high of $76.34. The company has a fifty day simple moving average of $65.79 and a 200 day simple moving average of $65.24. The company has a current ratio of 2.68, a quick ratio of 1.27 and a debt-to-equity ratio of 0.84. The company has a market cap of $2.08 billion, a P/E ratio of 205.54 and a beta of 1.32.

AAR (NYSE:AIR) last released its quarterly earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. The company had revenue of $678.20 million during the quarter, compared to analysts’ expectations of $699.13 million. AAR had a net margin of 0.41% and a return on equity of 10.46%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 earnings per share. On average, sell-side analysts predict that AAR Corp. will post 3.77 EPS for the current year.

Wall Street Analysts Forecast Growth

AIR has been the subject of several recent research reports. Truist Financial decreased their target price on shares of AAR from $81.00 to $78.00 and set a “buy” rating for the company in a research report on Friday, March 28th. StockNews.com cut shares of AAR from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. Finally, KeyCorp cut their target price on AAR from $83.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AAR has an average rating of “Moderate Buy” and a consensus target price of $80.20.

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.