Central Pacific Bank Trust Division Takes Position in AAR Corp. (NYSE:AIR)

Central Pacific Bank Trust Division acquired a new stake in shares of AAR Corp. (NYSE:AIR) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,500 shares of the aerospace company’s stock, valued at approximately $147,000.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in shares of AAR during the fourth quarter valued at approximately $27,000. Psagot Value Holdings Ltd. Israel raised its holdings in shares of AAR by 737.1% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 1,105 shares of the aerospace company’s stock valued at $69,000 after purchasing an additional 973 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of AAR by 124.6% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,251 shares of the aerospace company’s stock valued at $77,000 after purchasing an additional 694 shares during the last quarter. Raymond James & Associates purchased a new position in shares of AAR during the fourth quarter valued at approximately $290,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in shares of AAR during the first quarter valued at approximately $338,000. 90.74% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AAR news, SVP Christopher A. Jessup sold 15,929 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $70.09, for a total value of $1,116,463.61. Following the completion of the transaction, the senior vice president now directly owns 51,803 shares in the company, valued at $3,630,872.27. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Christopher A. Jessup sold 14,973 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $70.05, for a total value of $1,048,858.65. Following the transaction, the senior vice president now owns 51,803 shares of the company’s stock, valued at $3,628,800.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Christopher A. Jessup sold 15,929 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $70.09, for a total transaction of $1,116,463.61. Following the completion of the transaction, the senior vice president now directly owns 51,803 shares in the company, valued at approximately $3,630,872.27. The disclosure for this sale can be found here. Insiders sold a total of 36,023 shares of company stock worth $2,528,708 over the last three months. 4.30% of the stock is currently owned by company insiders.

AAR Price Performance

Shares of AIR traded up $0.21 during mid-day trading on Wednesday, reaching $72.15. The stock had a trading volume of 19,424 shares, compared to its average volume of 303,664. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 42.32 and a beta of 1.54. AAR Corp. has a 12 month low of $55.00 and a 12 month high of $73.95. The business has a fifty day moving average of $70.45 and a 200 day moving average of $65.35. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.33 and a current ratio of 2.90.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $80.00 target price on shares of AAR in a research report on Friday, May 24th. Stifel Nicolaus boosted their target price on shares of AAR from $81.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Finally, Benchmark boosted their target price on shares of AAR from $65.00 to $83.00 and gave the company a “buy” rating in a research report on Monday, April 15th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $82.50.

AAR Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. It operates through Aviation Services and Expeditionary Services segments. The Aviation Services segment engages in lease and sale of new, overhauled and repaired engine, and airframe parts and components, as well as aircrafts; and offers customized flight hour component inventory and repair, warranty claim management, and outsourcing programs for engine and airframe parts and components.