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

Hennessy Advisors Inc. cut its position in AAR Corp. (NYSE:AIR) by 8.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,900 shares of the aerospace company’s stock after selling 7,400 shares during the period. Hennessy Advisors Inc. owned 0.19% of AAR worth $7,702,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. acquired a new position in AAR during the 1st quarter worth about $25,000. Global Retirement Partners LLC acquired a new position in shares of AAR during the second quarter worth approximately $39,000. Optiver Holding B.V. grew its stake in shares of 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 last quarter. Nykredit A S bought a new stake in shares of AAR during the second quarter valued at approximately $63,000. Finally, Farther Finance Advisors LLC grew its stake in shares of 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 last quarter. 90.74% of the stock is currently owned by institutional investors.

AAR Stock Performance

AIR stock opened at $100.20 on Monday. AAR Corp. has a twelve month low of $76.10 and a twelve month high of $154.00. The company has a quick ratio of 1.28, a current ratio of 2.83 and a debt-to-equity ratio of 0.50. The company has a market cap of $4.03 billion, a P/E ratio of 20.53 and a beta of 1.13. The business’s fifty day moving average is $112.73 and its 200-day moving average is $118.41.

AAR (NYSE:AIR) last released its quarterly earnings data on Monday, September 28th. The aerospace company reported $1.49 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $878.81 million. During the same quarter in the prior year, the company posted $1.08 earnings per share. The firm’s revenue was up 24.1% on a year-over-year basis. Equities research analysts forecast that AAR Corp. will post 5.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $145.00 price objective on shares of AAR in a research report on Monday, September 28th. Jefferies Financial Group lifted their target price on AAR from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, September 29th. Wall Street Zen upgraded AAR from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. Zacks Research lowered AAR from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Finally, Truist Financial raised their price target on AAR from $128.00 to $145.00 and gave the company a “buy” rating in a report on Monday, July 27th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.60.

Insider Buying and Selling

In related news, Director Ellen M. Lord sold 4,341 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $104.64, for a total transaction of $454,242.24. Following the completion of the transaction, the director owned 5,814 shares in the company, valued at approximately $608,376.96. The trade was a 42.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Holmes, III sold 35,000 shares of the company’s stock in a transaction that occurred on 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 directly owned 406,362 shares of the company’s stock, valued at $39,583,722.42. The trade was a 7.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 43,582 shares of company stock worth $4,288,710 over the last quarter. 3.10% of the stock is currently owned by corporate insiders.

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.