Alberta Investment Management Corp Sells 23,470 Shares of AAR Corp. (NYSE:AIR)

Alberta Investment Management Corp trimmed its stake in AAR Corp. (NYSE:AIR - Free Report) by 40.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,580 shares of the aerospace company's stock after selling 23,470 shares during the quarter. Alberta Investment Management Corp owned approximately 0.10% of AAR worth $2,119,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AIR. Franklin Resources Inc. lifted its position in shares of AAR by 13.4% in the 3rd quarter. Franklin Resources Inc. now owns 969,741 shares of the aerospace company's stock valued at $59,591,000 after acquiring an additional 114,460 shares in the last quarter. Geode Capital Management LLC raised its stake in AAR by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 796,962 shares of the aerospace company's stock valued at $52,101,000 after purchasing an additional 27,747 shares during the period. Loomis Sayles & Co. L P lifted its holdings in shares of AAR by 20.5% in the third quarter. Loomis Sayles & Co. L P now owns 790,267 shares of the aerospace company's stock valued at $51,652,000 after purchasing an additional 134,215 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of AAR by 18.5% in the third quarter. Principal Financial Group Inc. now owns 500,200 shares of the aerospace company's stock worth $32,693,000 after buying an additional 77,974 shares during the period. Finally, Emerald Advisers LLC grew its holdings in shares of AAR by 1.3% during the third quarter. Emerald Advisers LLC now owns 491,406 shares of the aerospace company's stock valued at $32,118,000 after buying an additional 6,399 shares in the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at AAR

In related news, CFO Sean M. Gillen sold 17,385 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $66.33, for a total value of $1,153,147.05. Following the completion of the sale, the chief financial officer now directly owns 72,326 shares in the company, valued at approximately $4,797,383.58. This represents a 19.38 % decrease in their ownership of the stock. 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 stock was sold at an average price of $66.90, for a total transaction of $100,350.00. Following the transaction, the chief accounting officer now directly owns 37,565 shares in the company, valued at $2,513,098.50. The trade was 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 in the last 90 days. 4.10% of the stock is owned by insiders.

AAR Stock Up 1.2 %

NYSE AIR traded up $0.72 on Tuesday, reaching $62.83. The stock had a trading volume of 94,459 shares, compared to its average volume of 236,114. The company has a current ratio of 2.68, a quick ratio of 1.27 and a debt-to-equity ratio of 0.84. AAR Corp. has a 1 year low of $54.71 and a 1 year high of $76.34. The business has a 50 day moving average price of $65.70 and a 200 day moving average price of $65.12. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 224.19 and a beta of 1.61.

AAR (NYSE:AIR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 7th. The aerospace company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.83 by $0.07. The business had revenue of $686.10 million during the quarter, compared to analysts' expectations of $654.47 million. AAR had a return on equity of 10.46% and a net margin of 0.41%. The firm's quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 EPS. On average, analysts forecast that AAR Corp. will post 3.77 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.