Franklin Resources Inc. Sells 68,396 Shares of AAR Corp. (NYSE:AIR)

Franklin Resources Inc. lessened its stake in AAR Corp. (NYSE:AIR - Free Report) by 7.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 901,345 shares of the aerospace company's stock after selling 68,396 shares during the quarter. Franklin Resources Inc. owned approximately 2.51% of AAR worth $55,234,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of AIR. National Bank of Canada FI acquired a new stake in AAR during the third quarter valued at approximately $25,000. Smartleaf Asset Management LLC raised its position in shares of AAR by 124.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the aerospace company's stock valued at $62,000 after acquiring an additional 561 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in AAR by 1,965.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,322 shares of the aerospace company's stock worth $81,000 after purchasing an additional 1,258 shares during the period. Toth Financial Advisory Corp increased its stake in AAR by 133.3% during the fourth quarter. Toth Financial Advisory Corp now owns 1,400 shares of the aerospace company's stock valued at $86,000 after purchasing an additional 800 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of AAR by 42.5% during the fourth quarter. KBC Group NV now owns 1,887 shares of the aerospace company's stock worth $116,000 after purchasing an additional 563 shares during the period. Institutional investors own 90.74% of the company's stock.

Insider Activity

In related news, CAO Jessica A. Garascia sold 1,500 shares of the business's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $66.90, for a total value of $100,350.00. Following the completion of the sale, the chief accounting officer now owns 37,565 shares of the company's stock, valued at approximately $2,513,098.50. The trade was a 3.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Christopher A. Jessup sold 33,481 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $70.40, for a total transaction 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 trade represents a 34.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,793 shares of company stock worth $12,538,396. Corporate insiders own 4.10% of the company's stock.

AAR Stock Performance

Shares of NYSE:AIR traded down $2.21 during trading hours on Thursday, hitting $51.97. The stock had a trading volume of 58,990 shares, compared to its average volume of 280,120. The stock's fifty day simple moving average is $63.28 and its 200 day simple moving average is $64.41. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 185.91 and a beta of 1.32. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.27 and a current ratio of 2.68. AAR Corp. has a 1-year low of $46.51 and a 1-year high of $76.34.

AAR (NYSE:AIR - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The aerospace company reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.03. The company had revenue of $678.20 million for the quarter, compared to analyst estimates of $699.13 million. AAR had a return on equity of 10.46% and a net margin of 0.41%. The company's quarterly revenue was up 19.5% compared to the same quarter last year. During the same period last year, the company earned $0.85 earnings per share. Sell-side analysts anticipate that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on AIR shares. Truist Financial decreased their price target on shares of AAR from $81.00 to $78.00 and set a "buy" rating for the company in a report on Friday, March 28th. StockNews.com downgraded AAR from a "hold" rating to a "sell" rating in a research note on Tuesday. Finally, KeyCorp dropped their price target on AAR from $83.00 to $80.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $80.20.

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.