Jessica A. Garascia, Senior Vice President, General Counsel, Chief Administrative Officer, and Secretary of AAR Corp (NYSE:AIR), has sold a total of 7,352 shares of the company's common stock, according to a recent SEC filing. The shares were sold at a weighted average price of $63.3722, with the transactions occurring on April 9, 2024. The total value of the shares sold by Garascia amounts to approximately $465,912.
The sale was executed in multiple transactions at prices ranging from $62.3700 to $63.3850. Post-transaction, Garascia's direct holdings in AAR Corp stand at 28,165 shares of common stock. The transactions were reported in compliance with the SEC regulations on April 11, 2024.
AAR Corp, with a standard industrial classification in the aircraft and parts sector, is incorporated in Delaware and has its business address in Wood Dale, Illinois. The company, formerly known as Allen Aircraft Radio Inc., has been a significant player in the aerospace and defense industry.
For investors tracking insider transactions as indicators of corporate confidence and direction, such filings provide valuable information. However, it's important to consider the broader context within which these sales occur, including overall market conditions and individual circumstances.
The filing also included a Power of Attorney, indicating that Katherine Kwiat, among others, has been appointed by Garascia as attorney-in-fact for executing Forms 3, 4, and 5 with the SEC. This is a standard practice that facilitates the filing process on behalf of the reporting owner.
Investors and followers of AAR Corp can view the full details of the transactions on the SEC's website or contact the company directly for more information.
InvestingPro Insights
In light of the recent insider transactions at AAR Corp (NYSE:AIR), investors may be seeking additional context to gauge the stock's potential. According to InvestingPro, AAR Corp is currently trading at a high earnings multiple with a Price/Earnings (P/E) ratio of 35.83. This could suggest that the market has optimistic expectations about the company's future earnings growth.
Despite the insider sale, AAR Corp's financial health appears robust, with liquid assets outstripping short-term obligations, which is a positive indicator of the company's ability to meet its immediate financial liabilities. Additionally, AAR Corp operates with a moderate level of debt, which may provide some comfort to investors concerned about financial leverage in the current economic climate.
From a performance perspective, AAR Corp has experienced a 15.81% revenue growth over the last twelve months as of Q3 2024, which demonstrates the company's ability to expand its operations. Furthermore, the company's stock price movements have been quite volatile, as indicated by recent price total returns, with a 3.23% increase over the past week and a 5.26% increase over the past three months, reflecting the dynamic nature of the market.
For those looking for comprehensive analysis and additional insights, InvestingPro offers a range of metrics and tips. Currently, there are 7 additional InvestingPro Tips available for AAR Corp, which can be accessed at: https://www.investing.com/pro/AIR. As a special offer, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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