First Eagle Investment Management LLC Sells 6,302 Shares of AAR Corp. (NYSE:AIR)

First Eagle Investment Management LLC cut its stake in AAR Corp. (NYSE:AIR) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 213,903 shares of the aerospace company’s stock after selling 6,302 shares during the period. First Eagle Investment Management LLC owned approximately 0.60% of AAR worth $13,108,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AIR. National Bank of Canada FI bought a new stake in AAR in the 3rd quarter valued at $25,000. Smartleaf Asset Management LLC boosted its holdings in AAR by 124.4% in the 4th 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 period. Venturi Wealth Management LLC boosted its holdings in 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 purchasing an additional 1,258 shares during the period. Toth Financial Advisory Corp lifted its holdings in shares of AAR by 133.3% during the 4th quarter. Toth Financial Advisory Corp now owns 1,400 shares of the aerospace company’s stock worth $86,000 after acquiring an additional 800 shares during the period. Finally, KBC Group NV lifted its holdings in shares of AAR by 32.9% during the 3rd quarter. KBC Group NV now owns 1,324 shares of the aerospace company’s stock worth $87,000 after acquiring an additional 328 shares during the period. 90.74% of the stock is owned by institutional investors.

AAR Trading Up 1.5 %

Shares of AAR stock opened at $67.18 on Friday. The stock has a market capitalization of $2.41 billion, a P/E ratio of 239.95 and a beta of 1.58. 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 50-day simple moving average of $66.60 and a 200 day simple moving average of $65.26. AAR Corp. has a 12-month low of $54.71 and a 12-month high of $76.34.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AIR. StockNews.com downgraded shares of AAR from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. KeyCorp began coverage on shares of AAR in a report on Thursday, January 16th. They set an “overweight” rating and a $83.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.50.

Insider Buying and Selling

In related news, CAO Jessica A. Garascia sold 1,500 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $66.90, for a total transaction of $100,350.00. Following the completion of the sale, the chief accounting officer now owns 37,565 shares in the company, valued at $2,513,098.50. This trade represents a 3.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Sean M. Gillen sold 17,385 shares of the firm’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 completion of the sale, the chief financial officer now owns 72,326 shares of the company’s stock, valued at $4,797,383.58. The trade was a 19.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,793 shares of company stock worth $12,538,396 in the last quarter. 4.10% of the stock is owned by corporate insiders.

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.