Comerica Bank Reduces Stock Holdings in AAR Corp. (NYSE:AIR)

Comerica Bank lessened its stake in shares of AAR Corp. (NYSE:AIRGet Rating) by 8.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,742 shares of the aerospace company’s stock after selling 2,505 shares during the period. Comerica Bank owned approximately 0.07% of AAR worth $1,109,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. raised its stake in shares of AAR by 47.2% in the second quarter. Victory Capital Management Inc. now owns 954,052 shares of the aerospace company’s stock valued at $39,918,000 after acquiring an additional 305,785 shares during the period. Toth Financial Advisory Corp raised its position in AAR by 14.4% in the 2nd quarter. Toth Financial Advisory Corp now owns 19,625 shares of the aerospace company’s stock worth $821,000 after purchasing an additional 2,475 shares during the period. Louisiana State Employees Retirement System bought a new stake in AAR in the third quarter worth about $577,000. Oppenheimer Asset Management Inc. boosted its position in shares of AAR by 87.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 59,258 shares of the aerospace company’s stock valued at $2,479,000 after buying an additional 27,652 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in shares of AAR by 7.6% during the second quarter. State of Alaska Department of Revenue now owns 25,022 shares of the aerospace company’s stock valued at $1,046,000 after buying an additional 1,770 shares during the period. 94.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Anthony Anderson sold 14,000 shares of the business’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $42.74, for a total value of $598,360.00. Following the completion of the sale, the director now owns 10,334 shares in the company, valued at approximately $441,675.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other AAR news, Director Anthony Anderson sold 14,000 shares of the stock in a transaction on Friday, November 4th. The stock was sold at an average price of $42.74, for a total transaction of $598,360.00. Following the sale, the director now owns 10,334 shares of the company’s stock, valued at approximately $441,675.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Mcclain Holmes III sold 57,000 shares of the business’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $44.53, for a total value of $2,538,210.00. Following the completion of the transaction, the chief executive officer now directly owns 278,611 shares of the company’s stock, valued at $12,406,547.83. The disclosure for this sale can be found here. Insiders have sold a total of 136,798 shares of company stock worth $6,214,383 in the last three months. Corporate insiders own 7.74% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on AIR. StockNews.com lowered AAR from a “buy” rating to a “hold” rating in a research note on Wednesday, December 21st. TheStreet upgraded AAR from a “c+” rating to a “b-” rating in a research report on Thursday, November 10th. Finally, Truist Financial upped their price target on shares of AAR from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, January 9th.

AAR Stock Down 0.2 %

Shares of NYSE:AIR opened at $48.15 on Wednesday. The business’s 50 day moving average is $46.03 and its 200 day moving average is $43.65. The stock has a market cap of $1.66 billion, a P/E ratio of 18.81 and a beta of 1.54. AAR Corp. has a 52-week low of $33.75 and a 52-week high of $52.83. The company has a quick ratio of 1.44, a current ratio of 3.28 and a debt-to-equity ratio of 0.19.

AAR (NYSE:AIRGet Rating) last posted its quarterly earnings results on Tuesday, December 20th. The aerospace company reported $0.69 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.69. The business had revenue of $469.80 million for the quarter, compared to the consensus estimate of $458.91 million. AAR had a return on equity of 9.19% and a net margin of 4.97%. Sell-side analysts predict that AAR Corp. will post 3.03 EPS for the current year.

AAR Profile

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AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Aviation Services segment offers aftermarket support and services; inventory management and distribution services; and maintenance, repair, and overhaul, as well as engineering services. This segment also sells and leases new, overhauled, and repaired engine and airframe parts, and components; and provides inventory and repair programs, warranty claim management, and outsourcing programs for engine and airframe parts and components, as well as performance-based supply chain logistics programs in support of the U.S.

Further Reading

Institutional Ownership by Quarter for AAR (NYSE:AIR)

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