Cibc World Markets Corp Makes New $200,000 Investment in AAR Corp. (NYSE:AIR)

Cibc World Markets Corp acquired a new position in shares of AAR Corp. (NYSE:AIR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,269 shares of the aerospace company’s stock, valued at approximately $200,000.

Several other hedge funds have also modified their holdings of AIR. Intech Investment Management LLC boosted its stake in shares of AAR by 89.1% in the 3rd quarter. Intech Investment Management LLC now owns 15,087 shares of the aerospace company’s stock valued at $986,000 after buying an additional 7,108 shares during the period. Citigroup Inc. grew its holdings in AAR by 12.7% during the 3rd quarter. Citigroup Inc. now owns 71,869 shares of the aerospace company’s stock worth $4,697,000 after acquiring an additional 8,113 shares in the last quarter. FMR LLC increased its position in shares of AAR by 24.2% in the 3rd quarter. FMR LLC now owns 109,543 shares of the aerospace company’s stock valued at $7,160,000 after purchasing an additional 21,342 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of AAR by 5.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,843 shares of the aerospace company’s stock valued at $643,000 after purchasing an additional 551 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in shares of AAR by 2.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 74,736 shares of the aerospace company’s stock worth $4,885,000 after purchasing an additional 1,900 shares during the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AIR. KeyCorp started coverage on AAR in a report on Thursday, January 16th. They set an “overweight” rating and a $83.00 price target for the company. StockNews.com lowered shares of AAR from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. One research 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.50.

Insider Buying and Selling

In other news, CFO Sean M. Gillen sold 17,385 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were 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 $4,797,383.58. The trade was a 19.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 transaction of $354,050.00. Following the completion of the sale, the chief executive officer now owns 341,680 shares of the company’s stock, valued at approximately $24,194,360.80. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 185,793 shares of company stock valued at $12,538,396 over the last quarter. 4.10% of the stock is currently owned by insiders.

AAR Stock Performance

NYSE:AIR opened at $69.62 on Thursday. 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 Corp. has a 52-week low of $54.71 and a 52-week high of $76.34. The stock’s 50 day moving average price is $66.99 and its 200 day moving average price is $65.47. The company has a market capitalization of $2.50 billion, a PE ratio of 248.65 and a beta of 1.58.

AAR (NYSE:AIR) last released its quarterly earnings results on Tuesday, January 7th. The aerospace company reported $0.90 EPS for the quarter, beating 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 firm had revenue of $686.10 million during the quarter, compared to the consensus estimate of $654.47 million. During the same quarter in the prior year, the firm earned $0.81 EPS. AAR’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, research analysts anticipate that AAR Corp. will post 3.77 EPS for the current year.

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.