AAR Corp. (NYSE:AIR) Shares Bought by Canal Insurance CO

Canal Insurance CO increased its holdings in AAR Corp. (NYSE:AIR - Free Report) by 124.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,000 shares of the aerospace company's stock after buying an additional 39,900 shares during the quarter. Canal Insurance CO owned about 0.20% of AAR worth $4,412,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake 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 acquiring an additional 77,974 shares during the period. JPMorgan Chase & Co. raised its stake in shares of AAR by 9.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 40,737 shares of the aerospace company's stock valued at $2,663,000 after buying an additional 3,612 shares during the last quarter. Shelton Wealth Management LLC acquired a new position in shares of AAR in the 4th quarter valued at about $1,068,000. SG Americas Securities LLC acquired a new stake in AAR during the fourth quarter worth about $1,539,000. Finally, Barclays PLC raised its position in AAR by 269.4% during the third quarter. Barclays PLC now owns 66,223 shares of the aerospace company's stock valued at $4,328,000 after acquiring an additional 48,298 shares in the last quarter. 90.74% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AAR

In other AAR news, CFO Sean M. Gillen sold 17,385 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 72,326 shares of the company's stock, valued at $4,797,383.58. This trade represents a 19.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Christopher A. Jessup sold 33,481 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $70.40, for a total value of $2,357,062.40. Following the transaction, the senior vice president now owns 63,209 shares in the company, valued at approximately $4,449,913.60. This represents a 34.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,793 shares of company stock valued at $12,538,396 over the last ninety days. Insiders own 4.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. StockNews.com raised shares of AAR from a "sell" rating to a "hold" rating in a research note on Tuesday. Royal Bank of Canada restated an "outperform" rating and set a $75.00 price target on shares of AAR in a research report on Monday, November 4th. KeyCorp began coverage on shares of AAR in a research report on Thursday, January 16th. They issued an "overweight" rating and a $83.00 price objective for the company. Finally, Benchmark restated a "buy" rating and set a $83.00 target price on shares of AAR in a research report on Friday, October 4th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AAR has an average rating of "Buy" and a consensus target price of $81.50.

AAR Price Performance

NYSE:AIR traded down $1.10 during trading hours on Friday, reaching $67.74. 222,927 shares of the company were exchanged, compared to its average volume of 291,636. The stock's 50-day moving average is $66.25 and its 200-day moving average is $65.07. AAR Corp. has a twelve month low of $54.71 and a twelve month high of $76.34. The firm has a market cap of $2.43 billion, a PE ratio of 241.94 and a beta of 1.61. 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 (NYSE:AIR - Get Free Report) last released its quarterly earnings results on Tuesday, January 7th. The aerospace company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.07. AAR had a net margin of 0.41% and a return on equity of 10.46%. The firm had revenue of $686.10 million during the quarter, compared to the consensus estimate of $654.47 million. During the same quarter in the prior year, the firm earned $0.81 EPS. The company's revenue for the quarter was up 25.8% on a year-over-year basis. On average, sell-side analysts anticipate that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

AAR 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.