Norges Bank Purchases New Position in AAR Corp. (NYSE:AIR)

Norges Bank purchased a new stake in AAR Corp. (NYSE:AIR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 103,156 shares of the aerospace company's stock, valued at approximately $6,321,000. Norges Bank owned approximately 0.29% of AAR at the end of the most recent reporting period.

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

AAR Price Performance

Shares of AIR traded up $0.26 during trading hours on Monday, hitting $53.65. 6,453 shares of the company were exchanged, compared to its average volume of 279,863. AAR Corp. has a fifty-two week low of $46.51 and a fifty-two week high of $76.34. The firm's fifty day moving average is $62.70 and its 200 day moving average is $64.25. The company has a quick ratio of 1.27, a current ratio of 2.68 and a debt-to-equity ratio of 0.84. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 189.64 and a beta of 1.32.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Truist Financial lowered their target price on AAR from $81.00 to $78.00 and set a "buy" rating for the company in a report on Friday, March 28th. StockNews.com cut AAR from a "hold" rating to a "sell" rating in a report on Tuesday, April 8th. 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 note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, AAR has a consensus rating of "Moderate Buy" and an average target price of $80.20.

Insider Transactions at AAR

In other AAR news, CEO John Mcclain Holmes III sold 5,000 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $70.81, for a total transaction of $354,050.00. Following the completion of the sale, the chief executive officer now directly owns 341,680 shares in the company, valued at approximately $24,194,360.80. This trade represents a 1.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Christopher A. Jessup sold 33,481 shares of the 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 $4,449,913.60. The trade was a 34.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.10% of the company's stock.

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.