AAR Corp. (NYSE:AIR) Position Increased by Mengis Capital Management Inc.

Mengis Capital Management Inc. raised its position in shares of AAR Corp. (NYSE:AIR) by 3.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 10,465 shares of the aerospace company’s stock after buying an additional 325 shares during the period. Mengis Capital Management Inc.’s holdings in AAR were worth $641,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in AAR by 18.5% during the third quarter. Principal Financial Group Inc. now owns 500,200 shares of the aerospace company’s stock valued at $32,693,000 after buying an additional 77,974 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in AAR by 9.7% during the third quarter. JPMorgan Chase & Co. now owns 40,737 shares of the aerospace company’s stock valued at $2,663,000 after buying an additional 3,612 shares in the last quarter. SG Americas Securities LLC purchased a new stake in AAR during the fourth quarter valued at about $1,539,000. Shelton Wealth Management LLC purchased a new stake in AAR during the fourth quarter valued at about $1,068,000. Finally, Barclays PLC lifted its stake 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 buying an additional 48,298 shares in the last quarter. 90.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AAR

In related news, CAO Jessica A. Garascia sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $66.90, for a total transaction of $100,350.00. Following the transaction, the chief accounting officer now owns 37,565 shares of the company’s stock, valued at approximately $2,513,098.50. This trade represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Mcclain Holmes III sold 128,427 shares of the stock in a transaction that occurred on 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 owns 346,680 shares in the company, valued at approximately $23,144,356.80. This trade represents a 27.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,793 shares of company stock valued at $12,538,396. 4.10% of the stock is currently owned by corporate insiders.

AAR Price Performance

Shares of AIR opened at $62.23 on Tuesday. The firm has a market cap of $2.24 billion, a PE ratio of 222.26 and a beta of 1.61. The firm’s 50 day moving average price is $65.70 and its 200 day moving average price is $65.12. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.27 and a current ratio of 2.68. AAR Corp. has a twelve month low of $54.71 and a twelve month high of $76.34.

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

Wall Street Analyst Weigh In

AIR has been the subject of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $75.00 price target on shares of AAR in a research report on Monday, November 4th. StockNews.com lowered shares of AAR from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. Finally, KeyCorp initiated coverage on shares of AAR in a research report on Thursday, January 16th. They issued an “overweight” rating and a $83.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AAR currently has an average rating of “Moderate Buy” and an average target price of $81.50.

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.