AAR Corp. (NYSE:AIR) Stock Position Reduced by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its position in AAR Corp. (NYSE:AIR) by 13.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,372 shares of the aerospace company’s stock after selling 706 shares during the period. PNC Financial Services Group Inc.’s holdings in AAR were worth $268,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Loomis Sayles & Co. L P grew its position in shares of AAR by 20.5% during the third quarter. Loomis Sayles & Co. L P now owns 790,267 shares of the aerospace company’s stock worth $51,652,000 after acquiring an additional 134,215 shares during the last quarter. Franklin Resources Inc. raised its holdings in AAR by 13.4% during the third quarter. Franklin Resources Inc. now owns 969,741 shares of the aerospace company’s stock worth $59,591,000 after purchasing an additional 114,460 shares in the last quarter. Raymond James Financial Inc. bought a new position in AAR during the 4th quarter valued at $6,849,000. Principal Financial Group Inc. boosted its stake in AAR by 18.5% during the 3rd quarter. Principal Financial Group Inc. now owns 500,200 shares of the aerospace company’s stock valued at $32,693,000 after purchasing an additional 77,974 shares in the last quarter. Finally, Barclays PLC increased its position in shares of AAR by 269.4% during the 3rd quarter. Barclays PLC now owns 66,223 shares of the aerospace company’s stock valued at $4,328,000 after purchasing an additional 48,298 shares during the period. 90.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

AAR Price Performance

NYSE AIR opened at $67.83 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.68 and a quick ratio of 1.27. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 242.26 and a beta of 1.58. The company has a 50 day simple moving average of $66.98 and a 200-day simple moving average of $65.38. AAR Corp. has a 52-week low of $54.71 and a 52-week high of $76.34.

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

Insider Buying and Selling 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 stock was sold at an average price of $66.33, for a total value of $1,153,147.05. Following the completion of the sale, the chief financial officer now owns 72,326 shares of the company’s stock, valued at approximately $4,797,383.58. The trade was a 19.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John Mcclain Holmes III sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $70.81, for a total transaction of $354,050.00. Following the transaction, the chief executive officer now directly owns 341,680 shares in the company, valued at approximately $24,194,360.80. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,793 shares of company stock worth $12,538,396 over the last 90 days. 4.10% of the stock is currently owned by corporate insiders.

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.