KLP Kapitalforvaltning AS Buys New Shares in AAR Corp. (NYSE:AIR)

KLP Kapitalforvaltning AS bought a new position in AAR Corp. (NYSE:AIR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,400 shares of the aerospace company's stock, valued at approximately $453,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AIR. JPMorgan Chase & Co. lifted its position 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 acquiring an additional 3,612 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of AAR during the fourth quarter valued at $1,539,000. Charles Schwab Investment Management Inc. boosted its position in shares of AAR by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 538,125 shares of the aerospace company's stock valued at $32,976,000 after purchasing an additional 19,863 shares during the period. Shelton Wealth Management LLC purchased a new position in AAR in the 4th quarter worth about $1,068,000. Finally, Barclays PLC raised its holdings in AAR by 269.4% during the 3rd quarter. Barclays PLC now owns 66,223 shares of the aerospace company's stock worth $4,328,000 after buying an additional 48,298 shares during the period. 90.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

AAR Stock Up 11.8 %

AIR stock traded up $5.75 during trading hours on Wednesday, hitting $54.31. The company's stock had a trading volume of 547,098 shares, compared to its average volume of 280,973. The stock has a 50 day moving average price of $63.28 and a two-hundred day moving average price of $64.41. AAR Corp. has a 12 month low of $46.51 and a 12 month high of $76.34. The company has a market capitalization of $1.96 billion, a PE ratio of 193.97 and a beta of 1.32. The company has a quick ratio of 1.27, a current ratio of 2.68 and a debt-to-equity ratio of 0.84.

AAR (NYSE:AIR - Get Free Report) last issued its quarterly earnings data on Thursday, March 27th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.03. AAR had a net margin of 0.41% and a return on equity of 10.46%. The firm had revenue of $678.20 million during the quarter, compared to analysts' expectations of $699.13 million. During the same period in the prior year, the company posted $0.85 earnings per share. AAR's revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities research analysts expect that AAR Corp. will post 3.77 earnings per share for the current year.

Insider Activity at AAR

In other news, CAO Jessica A. Garascia sold 1,500 shares of AAR stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $66.90, for a total value of $100,350.00. Following the transaction, the chief accounting officer now owns 37,565 shares of the company's stock, valued at $2,513,098.50. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John Mcclain Holmes III sold 128,427 shares of the company's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $66.76, for a total transaction of $8,573,786.52. Following the sale, the chief executive officer now directly owns 346,680 shares of the company's stock, valued at approximately $23,144,356.80. This represents a 27.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 185,793 shares of company stock valued at $12,538,396. Corporate insiders own 4.10% of the company's stock.

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.