Jessica A. Garascia, Senior Vice President, General Counsel, Chief Administrative Officer, and Secretary of AAR Corp (NYSE:AIR), a $2.38 billion aerospace company, has reported a sale of 1,500 shares of the company's common stock. According to InvestingPro data, AIR's stock has shown significant volatility, with the company currently trading at a notable P/E ratio of 229x. The shares were sold at a weighted average price of approximately $66.903, amounting to a total transaction value of $100,354. Following this transaction, Garascia holds 37,565 shares in AAR Corp. The sale was executed on January 10, 2025, as disclosed in the recent SEC filing. InvestingPro analysis indicates the stock is currently trading near its Fair Value, with additional insights available in the comprehensive Pro Research Report, which offers deep-dive analysis of AIR and 1,400+ other US stocks.
In other recent news, AAR Corp has announced the departure of its Senior Vice President and Chief Human Resources Officer, Tracey Patterson. She will leave the company to pursue a new professional opportunity outside of the aviation industry. In the wake of her departure, AAR Corp will pay her a cash amount equivalent to the value of her unvested stock award, as the company's current ratio of 2.68 indicates a strong ability to meet such financial obligations. The company has not yet announced a successor for Ms. Patterson.
In financial news, AAR Corp has reported strong fiscal second quarter results, surpassing analyst expectations due to robust demand across its commercial and government businesses. The company posted adjusted earnings per share of $0.90, exceeding the analyst consensus of $0.88. Revenue for the quarter rose by 26% year-over-year, reaching $686.1 million, considerably higher than estimates of $654.18 million. AAR Corp also experienced notable organic growth of 12% in the quarter, with the Parts Supply segment seeing sales growth of 20% and Repair & Engineering revenue surging by 57% compared to the previous year.
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