AAR Corp. (NYSE:AIR) Holdings Raised by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its stake in shares of AAR Corp. (NYSE:AIR) by 11.2% in the 4th quarter, HoldingsChannel reports. The firm owned 19,495 shares of the aerospace company’s stock after acquiring an additional 1,957 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in AAR were worth $1,195,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Loomis Sayles & Co. L P lifted its stake in AAR by 20.5% in the 3rd quarter. Loomis Sayles & Co. L P now owns 790,267 shares of the aerospace company’s stock worth $51,652,000 after acquiring an additional 134,215 shares in the last quarter. Franklin Resources Inc. lifted its stake in AAR by 13.4% in the 3rd quarter. Franklin Resources Inc. now owns 969,741 shares of the aerospace company’s stock worth $59,591,000 after acquiring an additional 114,460 shares in the last quarter. Principal Financial Group Inc. lifted its stake in AAR by 18.5% in the 3rd 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 in the last quarter. Barclays PLC lifted its stake in AAR by 269.4% in the 3rd quarter. Barclays PLC now owns 66,223 shares of the aerospace company’s stock worth $4,328,000 after acquiring an additional 48,298 shares in the last quarter. Finally, Canal Insurance CO lifted its stake in AAR by 124.3% in the 4th quarter. Canal Insurance CO now owns 72,000 shares of the aerospace company’s stock worth $4,412,000 after acquiring an additional 39,900 shares in the last quarter. 90.74% of the stock is owned by hedge funds and other institutional investors.

AAR Stock Up 0.1 %

AIR opened at $64.88 on Friday. AAR Corp. has a fifty-two week low of $54.71 and a fifty-two week high of $76.34. The business has a 50-day moving average of $65.94 and a 200-day moving average of $65.17. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.68 and a quick ratio of 1.27. The company has a market capitalization of $2.33 billion, a PE ratio of 231.72 and a beta of 1.61.

AAR (NYSE:AIR) last posted its quarterly earnings results on Tuesday, January 7th. The aerospace company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. AAR had a return on equity of 10.46% and a net margin of 0.41%. The company had revenue of $686.10 million during the quarter, compared to the consensus estimate of $654.47 million. During the same period last year, the business earned $0.81 EPS. The business’s quarterly revenue was up 25.8% on a year-over-year basis. Equities research analysts forecast that AAR Corp. will post 3.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. KeyCorp assumed coverage on AAR in a research note on Thursday, January 16th. They issued an “overweight” rating and a $83.00 price objective for the company. StockNews.com downgraded AAR from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. Finally, 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. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.50.

Insider Transactions at AAR

In other news, CFO Sean M. Gillen sold 17,385 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $66.33, for a total transaction of $1,153,147.05. Following the transaction, the chief financial officer now owns 72,326 shares of the company’s stock, valued at approximately $4,797,383.58. This represents a 19.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John Mcclain Holmes III sold 128,427 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $66.76, for a total value of $8,573,786.52. Following the transaction, the chief executive officer now directly owns 346,680 shares in the company, valued at approximately $23,144,356.80. This represents a 27.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,793 shares of company stock valued at $12,538,396 in the last three months. Corporate insiders own 4.10% of the company’s stock.

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.