Allspring Global Investments Holdings LLC Trims Position in AAR Corp. (NYSE:AIR)

Allspring Global Investments Holdings LLC lessened its holdings in AAR Corp. (NYSE:AIR - Free Report) by 72.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 200,840 shares of the aerospace company's stock after selling 532,117 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.56% of AAR worth $12,370,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AIR. National Bank of Canada FI purchased a new stake in AAR in the third quarter worth about $25,000. Toth Financial Advisory Corp lifted its stake in shares of AAR by 133.3% in the fourth quarter. Toth Financial Advisory Corp now owns 1,400 shares of the aerospace company's stock worth $86,000 after buying an additional 800 shares in the last quarter. KBC Group NV lifted its stake in shares of AAR by 32.9% in the third quarter. KBC Group NV now owns 1,324 shares of the aerospace company's stock worth $87,000 after buying an additional 328 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of AAR by 52.1% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,711 shares of the aerospace company's stock worth $166,000 after buying an additional 929 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. bought a new position in shares of AAR in the fourth quarter worth approximately $203,000. Hedge funds and other institutional investors own 90.74% of the company's stock.

Insider Activity at AAR

In other AAR news, SVP Christopher A. Jessup sold 33,481 shares of the company's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $70.40, for a total transaction of $2,357,062.40. Following the completion of the sale, the senior vice president now directly owns 63,209 shares of the company's stock, valued at approximately $4,449,913.60. This represents a 34.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jessica A. Garascia sold 1,500 shares of the company's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $66.90, for a total transaction of $100,350.00. Following the sale, the chief accounting officer now directly owns 37,565 shares of the company's stock, valued at approximately $2,513,098.50. This represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,793 shares of company stock worth $12,538,396 over the last quarter. Company insiders own 4.10% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AIR. StockNews.com downgraded shares of AAR from a "hold" rating to a "sell" rating in a research note on Wednesday, February 5th. Royal Bank of Canada reiterated an "outperform" rating and issued a $75.00 target price on shares of AAR in a research note on Monday, November 4th. Finally, KeyCorp began coverage on shares of AAR in a research note on Thursday, January 16th. They issued an "overweight" rating and a $83.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $81.50.

AAR Stock Performance

AAR stock traded down $2.28 during midday trading on Friday, reaching $61.84. 207,888 shares of the company traded hands, compared to its average volume of 240,014. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 220.85 and a beta of 1.61. The business has a 50 day moving average of $65.73 and a two-hundred day moving average of $65.02. AAR Corp. has a 12 month low of $54.71 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.

AAR (NYSE:AIR - Get Free Report) last issued its quarterly earnings data on Tuesday, January 7th. The aerospace company reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.07. The company had revenue of $686.10 million for the quarter, compared to the consensus estimate of $654.47 million. AAR had a net margin of 0.41% and a return on equity of 10.46%. The firm's revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 earnings per share. As a group, research analysts predict that AAR Corp. will post 3.77 earnings per share for the current year.

AAR Company Profile

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.