Citigroup Inc. Sells 1,585 Shares of AAR Corp. (NYSE:AIR)

Citigroup Inc. lessened its stake in shares of AAR Corp. (NYSE:AIR – Get Rating) by 3.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 50,590 shares of the aerospace company’s stock after selling 1,585 shares during the period. Citigroup Inc.’s holdings in AAR were worth $2,271,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AIR. Quantbot Technologies LP bought a new stake in shares of AAR during the 1st quarter worth about $26,000. Romano Brothers AND Company bought a new stake in AAR during the 4th quarter valued at approximately $33,000. Exchange Traded Concepts LLC bought a new stake in AAR during the 4th quarter valued at approximately $35,000. Ellevest Inc. boosted its stake in AAR by 43.1% during the 4th quarter. Ellevest Inc. now owns 814 shares of the aerospace company’s stock valued at $37,000 after purchasing an additional 245 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in AAR during the 1st quarter valued at approximately $44,000. Institutional investors own 94.30% of the company’s stock.

Insider Activity at AAR

In other news, CFO Sean M. Gillen sold 20,250 shares of AAR stock in a transaction on Thursday, March 23rd. The stock was sold at an average price of $54.05, for a total value of $1,094,512.50. Following the completion of the sale, the chief financial officer now directly owns 45,300 shares of the company’s stock, valued at approximately $2,448,465. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Sean M. Gillen sold 20,250 shares of AAR stock in a transaction on Thursday, March 23rd. The stock was sold at an average price of $54.05, for a total value of $1,094,512.50. Following the completion of the sale, the chief financial officer now directly owns 45,300 shares of the company’s stock, valued at approximately $2,448,465. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher A. Jessup sold 11,959 shares of AAR stock in a transaction on Monday, March 27th. The shares were sold at an average price of $55.02, for a total value of $657,984.18. Following the completion of the sale, the vice president now directly owns 44,691 shares of the company’s stock, valued at $2,458,898.82. The disclosure for this sale can be found here. Insiders sold 136,731 shares of company stock valued at $7,389,826 in the last three months. Corporate insiders own 7.74% of the company’s stock.

AAR Trading Down 1.9 %

AIR stock opened at $52.42 on Thursday. The business has a fifty day moving average price of $53.45 and a 200 day moving average price of $50.32. AAR Corp. has a fifty-two week low of $33.75 and a fifty-two week high of $56.86. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 20.56 and a beta of 1.59. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.22 and a quick ratio of 1.50.

AAR (NYSE:AIR – Get Rating) last released its quarterly earnings results on Tuesday, March 21st. The aerospace company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.07. AAR had a return on equity of 9.46% and a net margin of 4.75%. The firm had revenue of $521.10 million during the quarter, compared to analysts’ expectations of $487.41 million. During the same period last year, the firm posted $0.63 EPS. The business’s revenue was up 15.2% on a year-over-year basis. Analysts expect that AAR Corp. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AIR. Benchmark raised their price objective on AAR from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, March 22nd. Truist Financial raised their price objective on AAR from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, March 22nd. Royal Bank of Canada raised their price objective on AAR from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 22nd. Finally, StockNews.com began coverage on AAR in a research report on Thursday, May 18th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $57.67.

AAR Company Profile

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AAR Corp. engages in the provision of products and services to commercial aviation and government and defense industries. It operates through the following segments: Aviation Services and Expeditionary Services. The Aviation Services segment consists of aftermarket support and services businesses that provide spares and maintenance support for aircraft operated by commercial and government/defense customers.