Alberta Investment Management Corp Trims Stock Position in AAR Corp. (NYSE:AIR)

Alberta Investment Management Corp trimmed its position in AAR Corp. (NYSE:AIR) by 40.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,580 shares of the aerospace company’s stock after selling 23,470 shares during the quarter. Alberta Investment Management Corp owned about 0.10% of AAR worth $2,119,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AIR. Amalgamated Bank lifted its position in AAR by 1.7% in the third quarter. Amalgamated Bank now owns 10,319 shares of the aerospace company’s stock valued at $674,000 after buying an additional 177 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of AAR by 5.3% in 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 period. Inspire Investing LLC lifted its holdings in shares of AAR by 3.3% in the 4th quarter. Inspire Investing LLC now owns 6,505 shares of the aerospace company’s stock worth $399,000 after acquiring an additional 205 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of AAR by 6.1% during the 3rd quarter. HighTower Advisors LLC now owns 3,818 shares of the aerospace company’s stock worth $249,000 after purchasing an additional 220 shares during the period. Finally, Sheets Smith Wealth Management boosted its position in shares of AAR by 3.2% during the fourth quarter. Sheets Smith Wealth Management now owns 7,015 shares of the aerospace company’s stock worth $430,000 after buying an additional 220 shares during the period. Hedge funds and other institutional investors own 90.74% of the company’s stock.

Insider Activity at AAR

In related 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 value of $8,573,786.52. Following the sale, the chief executive officer now directly owns 346,680 shares in the company, valued at $23,144,356.80. The trade was a 27.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sean M. Gillen sold 17,385 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $66.33, for a total transaction of $1,153,147.05. Following the completion of the sale, the chief financial officer now directly owns 72,326 shares in the company, valued at $4,797,383.58. This trade represents a 19.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 185,793 shares of company stock worth $12,538,396 over the last three months. 4.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. KeyCorp began coverage on shares of AAR in a research note on Thursday, January 16th. They issued an “overweight” rating and a $83.00 price objective for the company. StockNews.com cut AAR from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $75.00 target price on shares of AAR in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AAR currently has an average rating of “Moderate Buy” and a consensus target price of $81.50.

AAR Price Performance

Shares of AIR opened at $61.84 on Friday. The firm has a 50-day simple moving average of $65.73 and a 200-day simple moving average of $65.02. 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 company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 220.85 and a beta of 1.61. AAR Corp. has a fifty-two week low of $54.71 and a fifty-two week high of $76.34.

AAR (NYSE:AIR) last announced its quarterly earnings data on Tuesday, January 7th. The aerospace company reported $0.90 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 company had revenue of $686.10 million during the quarter, compared to the consensus estimate of $654.47 million. During the same quarter in the prior year, the firm earned $0.81 EPS. AAR’s quarterly revenue was up 25.8% on a year-over-year basis. On average, equities research analysts anticipate that AAR Corp. will post 3.77 earnings per share for the current year.

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.