Corebridge Financial Inc. Sells 1,201 Shares of AAR Corp. (NYSE:AIR)

Corebridge Financial Inc. lowered its position in AAR Corp. (NYSE:AIR) by 6.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,612 shares of the aerospace company’s stock after selling 1,201 shares during the quarter. Corebridge Financial Inc. owned about 0.05% of AAR worth $1,141,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AIR. Vanguard Group Inc. increased its stake in shares of AAR by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 3,840,885 shares of the aerospace company’s stock worth $235,369,000 after purchasing an additional 58,694 shares in the last quarter. LPL Financial LLC boosted its holdings in AAR by 13.3% in the 4th quarter. LPL Financial LLC now owns 11,601 shares of the aerospace company’s stock worth $711,000 after buying an additional 1,362 shares during the period. KLP Kapitalforvaltning AS purchased a new position in AAR in the 4th quarter valued at approximately $453,000. American Century Companies Inc. raised its holdings in AAR by 2.4% during the 4th quarter. American Century Companies Inc. now owns 893,822 shares of the aerospace company’s stock valued at $54,773,000 after acquiring an additional 20,794 shares during the period. Finally, Boston Partners lifted its position in shares of AAR by 19.1% during the fourth quarter. Boston Partners now owns 53,938 shares of the aerospace company’s stock worth $3,305,000 after acquiring an additional 8,641 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors.

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 directly owns 72,326 shares in the company, valued at approximately $4,797,383.58. This represents a 19.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Mcclain Holmes III sold 5,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $70.81, for a total value of $354,050.00. Following the transaction, the chief executive officer now directly owns 341,680 shares in the company, valued at approximately $24,194,360.80. This represents a 1.44 % 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 in the last quarter. Insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AIR shares. KeyCorp decreased their price objective on AAR from $83.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday. StockNews.com cut AAR from a “hold” rating to a “sell” rating in a research report on Saturday, March 29th. Finally, Truist Financial lowered their price target on shares of AAR from $81.00 to $78.00 and set a “buy” rating on the stock in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.20.

AAR Price Performance

AAR stock opened at $50.09 on Friday. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 178.90 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. The business has a 50-day simple moving average of $65.05 and a 200 day simple moving average of $65.04. AAR Corp. has a 52 week low of $48.80 and a 52 week high of $76.34.

AAR (NYSE:AIR) last posted its quarterly earnings data on Thursday, March 27th. The aerospace company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.03. AAR had a net margin of 0.41% and a return on equity of 10.46%. The company had revenue of $678.20 million for the quarter, compared to analysts’ expectations of $699.13 million. During the same period in the prior year, the business earned $0.85 earnings per share. AAR’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, research analysts forecast 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.