CIBC Asset Management Inc Purchases Shares of 3,537 AAR Corp. (NYSE:AIR)

CIBC Asset Management Inc bought a new position in AAR Corp. (NYSE:AIR) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 3,537 shares of the aerospace company’s stock, valued at approximately $217,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of 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 buying an additional 77,974 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of AAR by 9.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 40,737 shares of the aerospace company’s stock worth $2,663,000 after buying an additional 3,612 shares during the last quarter. SG Americas Securities LLC bought a new position in AAR in the 4th quarter worth $1,539,000. Shelton Wealth Management LLC bought a new position in AAR in the 4th quarter worth $1,068,000. Finally, Barclays PLC raised its holdings in AAR by 269.4% during the third quarter. Barclays PLC now owns 66,223 shares of the aerospace company’s stock valued at $4,328,000 after acquiring an additional 48,298 shares during the period. Hedge funds and other institutional investors own 90.74% of the company’s stock.

Insider Activity

In other AAR news, CEO John Mcclain Holmes III sold 128,427 shares of the stock in a transaction dated 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 trade represents a 27.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jessica A. Garascia sold 1,500 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $66.90, for a total value of $100,350.00. Following the sale, the chief accounting officer now directly owns 37,565 shares in the company, valued at $2,513,098.50. This represents a 3.84 % 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 over the last ninety days. 4.10% of the stock is currently owned by insiders.

AAR Stock Performance

Shares of NYSE:AIR opened at $63.33 on Wednesday. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 226.19 and a beta of 1.61. AAR Corp. has a 52 week low of $54.71 and a 52 week high of $76.34. 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 firm has a 50 day moving average of $65.71 and a 200 day moving average of $65.15.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AIR shares. KeyCorp started coverage on AAR in a report on Thursday, January 16th. They set an “overweight” rating and a $83.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $75.00 price objective on shares of AAR in a research report on Monday, November 4th. Finally, StockNews.com lowered AAR from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.50.

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.