Corebridge Financial Inc. Sells 1,201 Shares of AAR Corp. (NYSE:AIR)

Corebridge Financial Inc. reduced its stake in AAR Corp. (NYSE:AIR) by 6.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 18,612 shares of the aerospace company’s stock after selling 1,201 shares during the period. Corebridge Financial Inc.’s holdings in AAR were worth $1,141,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of AAR by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 3,840,885 shares of the aerospace company’s stock worth $235,369,000 after purchasing an additional 58,694 shares during the last quarter. LPL Financial LLC boosted its position in AAR by 13.3% during the 4th quarter. LPL Financial LLC now owns 11,601 shares of the aerospace company’s stock valued at $711,000 after buying an additional 1,362 shares during the period. KLP Kapitalforvaltning AS bought a new stake in AAR in the 4th quarter worth $453,000. American Century Companies Inc. increased its position in shares of AAR by 2.4% in the fourth quarter. American Century Companies Inc. now owns 893,822 shares of the aerospace company’s stock valued at $54,773,000 after acquiring an additional 20,794 shares during the period. Finally, Boston Partners raised its stake in shares of AAR by 19.1% during the fourth quarter. Boston Partners now owns 53,938 shares of the aerospace company’s stock valued at $3,305,000 after acquiring an additional 8,641 shares during the last quarter. Institutional investors own 90.74% of the company’s stock.

Insider Transactions at AAR

In related news, SVP Christopher A. Jessup sold 33,481 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $70.40, for a total value of $2,357,062.40. Following the sale, the senior vice president now owns 63,209 shares in the company, valued at $4,449,913.60. This represents a 34.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 value of $354,050.00. Following the transaction, the chief executive officer now directly owns 341,680 shares of the company’s stock, valued at approximately $24,194,360.80. This trade represents 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 valued at $12,538,396 in the last three months. 4.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

AAR Stock Performance

Shares of AIR opened at $50.09 on Friday. AAR Corp. has a one year low of $48.80 and a one year high of $76.34. The company has a 50-day simple moving average of $65.05 and a two-hundred day simple moving average of $65.04. 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 $1.81 billion, a PE ratio of 178.90 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 for the quarter, beating the consensus estimate of $0.96 by $0.03. The company had revenue of $678.20 million for the quarter, compared to analyst estimates of $699.13 million. AAR had a return on equity of 10.46% and a net margin of 0.41%. The firm’s revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. On average, analysts anticipate that AAR Corp. will post 3.77 EPS for the current fiscal year.

About AAR

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.