KLP Kapitalforvaltning AS Invests $453,000 in AAR Corp. (NYSE:AIR)

KLP Kapitalforvaltning AS purchased a new stake in AAR Corp. (NYSE:AIR) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 7,400 shares of the aerospace company’s stock, valued at approximately $453,000.

Several other hedge funds also recently added to or reduced their stakes in AIR. Captrust Financial Advisors raised its holdings in shares of AAR by 5.3% in the third quarter. Captrust Financial Advisors now owns 3,537 shares of the aerospace company’s stock valued at $231,000 after buying an additional 177 shares during the last quarter. Inspire Investing LLC lifted its position in AAR by 3.3% during 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 period. Arizona State Retirement System increased its holdings in shares of AAR by 2.1% in the fourth quarter. Arizona State Retirement System now owns 10,420 shares of the aerospace company’s stock valued at $639,000 after purchasing an additional 219 shares during the period. HighTower Advisors LLC raised its stake in shares of AAR by 6.1% during the third 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 last quarter. Finally, Sheets Smith Wealth Management lifted its holdings 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 purchasing an additional 220 shares during the period. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

AAR Trading Down 6.5 %

AIR opened at $50.09 on Friday. AAR Corp. has a 12-month low of $48.80 and a 12-month high of $76.34. 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 stock has a market capitalization of $1.81 billion, a PE ratio of 178.90 and a beta of 1.32. The firm’s fifty day moving average price is $65.05 and its 200 day moving average price is $65.04.

AAR (NYSE:AIR) last released its 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. AAR had a net margin of 0.41% and a return on equity of 10.46%. The firm had revenue of $678.20 million during the quarter, compared to analyst estimates of $699.13 million. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, research analysts expect that AAR Corp. will post 3.77 EPS for the current fiscal year.

Insider Transactions at AAR

In other news, CEO John Mcclain Holmes III sold 5,000 shares of AAR 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 owns 341,680 shares of the company’s stock, valued at $24,194,360.80. The trade was a 1.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Jessica A. Garascia sold 1,500 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $66.90, for a total value of $100,350.00. Following the sale, the chief accounting officer now owns 37,565 shares of the company’s stock, valued at $2,513,098.50. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,793 shares of company stock worth $12,538,396. Insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

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

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.