Eric Pachapa, Vice President, Chief Accounting Officer, and Controller of AAR Corp (NYSE:AIR), recently sold 6,500 shares of the company's common stock. The shares were sold at a weighted average price of $66.9313, with prices ranging from $66.44 to $67.45 per share. This transaction totaled approximately $435,053. Following the sale, Pachapa holds 24,342.32 shares of AAR Corp, which currently trades at $67.72 with a market capitalization of $2.38 billion.According to InvestingPro analysis, AAR Corp's stock shows notable volatility and trades at a high P/E ratio of 229.45. The stock is currently trading near its Fair Value, with additional insights available in the comprehensive Pro Research Report, one of 1,400+ detailed company analyses available to subscribers.
In other recent news, AAR Corp has announced the departure of Senior Vice President and Chief Human Resources Officer, Tracey Patterson. Patterson, who joined the company in 2023, will be leaving effective January 10, 2025, to pursue a new opportunity outside of the aviation industry. Her exit follows a tenure during which she received a time-based restricted stock award valued at approximately $300,000. The company has committed to a cash payment equivalent to the value of the unvested stock award, contingent upon her agreement to standard release of claims and confidentiality provisions.
In terms of financial performance, AAR Corp has reported robust fiscal second quarter results, surpassing analyst expectations. The company posted adjusted earnings per share of $0.90, exceeding the analyst consensus of $0.88. Revenue for the quarter increased by 26% year-over-year, reaching $686.1 million, significantly higher than the estimated $654.18 million.
The company also experienced substantial organic growth of 12% in the quarter, with the Parts Supply segment and Repair & Engineering revenue witnessing growth of 20% and 57% respectively. CEO John M. Holmes anticipates "continued strong sales growth in the second half of fiscal year 2025" and further margin improvements. These are recent developments for AAR Corp.
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