AAR Corp. (NYSE:AIR) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. lowered its holdings in AAR Corp. (NYSE:AIR) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,987 shares of the aerospace company’s stock after selling 1,063 shares during the period. AAR comprises 1.2% of Phocas Financial Corp.’s holdings, making the stock its 18th biggest holding. Phocas Financial Corp. owned about 0.43% of AAR worth $8,548,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in shares of AAR in the first quarter worth approximately $26,000. AdvisorShares Investments LLC purchased a new position in shares of AAR in the first quarter worth approximately $27,000. Point72 Hong Kong Ltd purchased a new position in shares of AAR in the first quarter worth approximately $44,000. Tower Research Capital LLC TRC boosted its holdings in shares of AAR by 160.8% during the first quarter. Tower Research Capital LLC TRC now owns 1,051 shares of the aerospace company’s stock worth $57,000 after purchasing an additional 648 shares during the period. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of AAR during the first quarter worth approximately $102,000. Institutional investors and hedge funds own 89.87% of the company’s stock.

Insider Transactions at AAR

In other news, CEO John Mcclain Holmes III sold 4,960 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $60.32, for a total value of $299,187.20. Following the completion of the sale, the chief executive officer now directly owns 321,766 shares in the company, valued at $19,408,925.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO John Mcclain Holmes III sold 4,960 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $60.32, for a total transaction of $299,187.20. Following the transaction, the chief executive officer now owns 321,766 shares of the company’s stock, valued at $19,408,925.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jessica A. Garascia sold 14,778 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $59.95, for a total transaction of $885,941.10. Following the transaction, the chief accounting officer now directly owns 35,517 shares in the company, valued at approximately $2,129,244.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,971 shares of company stock worth $2,959,062. 4.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on AIR shares. Truist Financial raised their price target on shares of AAR from $60.00 to $68.00 in a report on Wednesday, July 19th. StockNews.com started coverage on shares of AAR in a report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Royal Bank of Canada raised their price target on shares of AAR from $60.00 to $66.00 in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, AAR presently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

AAR Stock Down 0.4 %

NYSE AIR traded down $0.25 during trading on Tuesday, reaching $61.49. The company’s stock had a trading volume of 56,031 shares, compared to its average volume of 185,708. The company has a current ratio of 3.12, a quick ratio of 1.49 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $2.15 billion, a PE ratio of 24.22 and a beta of 1.61. The business has a 50-day moving average price of $59.65 and a 200-day moving average price of $56.05. AAR Corp. has a 1-year low of $33.75 and a 1-year high of $63.88.

AAR (NYSE:AIR) last issued its quarterly earnings data on Tuesday, July 18th. The aerospace company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.05. AAR had a net margin of 4.53% and a return on equity of 9.61%. The business had revenue of $553.00 million during the quarter, compared to analysts’ expectations of $525.92 million. During the same period in the previous year, the company earned $0.72 earnings per share. AAR’s revenue for the quarter was up 16.2% on a year-over-year basis. On average, research analysts forecast that AAR Corp. will post 3.46 earnings per share for the current fiscal year.

AAR Company Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. It operates through Aviation Services and Expeditionary Services segments. The Aviation Services segment engages in lease and sale of new, overhauled and repaired engine, and airframe parts and components, as well as aircrafts; and offers customized flight hour component inventory and repair, warranty claim management, and outsourcing programs for engine and airframe parts and components.