Central Pacific Bank Trust Division Makes New $147,000 Investment in AAR Corp. (NYSE:AIR)

Central Pacific Bank Trust Division acquired a new position in AAR Corp. (NYSE:AIR) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,500 shares of the aerospace company’s stock, valued at approximately $147,000.

A number of other institutional investors have also added to or reduced their stakes in AIR. Allspring Global Investments Holdings LLC grew its position in shares of AAR by 889.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 391,076 shares of the aerospace company’s stock valued at $23,414,000 after acquiring an additional 351,540 shares during the period. Norges Bank bought a new position in shares of AAR during the 4th quarter valued at approximately $21,511,000. Wellington Management Group LLP bought a new position in shares of AAR during the 3rd quarter valued at approximately $11,029,000. Peregrine Capital Management LLC bought a new position in shares of AAR during the 1st quarter valued at approximately $6,073,000. Finally, Vanguard Group Inc. grew its position in shares of AAR by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,761,632 shares of the aerospace company’s stock valued at $234,726,000 after acquiring an additional 44,948 shares during the period. 90.74% of the stock is owned by institutional investors.

AAR Price Performance

NYSE AIR traded up $0.21 on Wednesday, hitting $72.15. The stock had a trading volume of 19,424 shares, compared to its average volume of 303,664. AAR Corp. has a 52-week low of $55.00 and a 52-week high of $73.95. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.33 and a current ratio of 2.90. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 42.32 and a beta of 1.54. The firm has a 50-day moving average of $70.45 and a 200-day moving average of $65.35.

Analysts Set New Price Targets

A number of analysts recently commented on AIR shares. Stifel Nicolaus upped their price target on shares of AAR from $81.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Benchmark upped their price target on shares of AAR from $65.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $80.00 price target on shares of AAR in a research note on Friday, May 24th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.50.

Insiders Place Their Bets

In other AAR news, CAO Eric Pachapa sold 5,121 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $70.96, for a total value of $363,386.16. Following the sale, the chief accounting officer now directly owns 25,015 shares in the company, valued at approximately $1,775,064.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AAR news, CAO Eric Pachapa sold 5,121 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $70.96, for a total value of $363,386.16. Following the sale, the chief accounting officer now directly owns 25,015 shares in the company, valued at approximately $1,775,064.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher A. Jessup sold 14,973 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $70.05, for a total transaction of $1,048,858.65. Following the sale, the senior vice president now owns 51,803 shares in the company, valued at approximately $3,628,800.15. The disclosure for this sale can be found here. Insiders have sold 36,023 shares of company stock worth $2,528,708 in the last three months. 4.30% of the stock is currently owned by corporate insiders.

AAR Company 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.