New York State Teachers Retirement System Decreases Position in AAR Corp. (NYSE:AIR)

New York State Teachers Retirement System lowered its holdings in shares of AAR Corp. (NYSE:AIR) by 7.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,859 shares of the aerospace company’s stock after selling 4,432 shares during the period. New York State Teachers Retirement System owned about 0.17% of AAR worth $3,847,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Westwood Holdings Group Inc. acquired a new stake in shares of AAR during the 2nd quarter worth about $77,754,000. American Century Companies Inc. grew its stake in shares of AAR by 1,956.5% during the 2nd quarter. American Century Companies Inc. now owns 909,953 shares of the aerospace company’s stock valued at $66,154,000 after buying an additional 865,705 shares during the period. Boston Partners acquired a new stake in AAR during the first quarter worth about $25,794,000. Allspring Global Investments Holdings LLC raised its holdings in AAR by 32.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 732,957 shares of the aerospace company’s stock valued at $47,906,000 after buying an additional 181,518 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in AAR by 83.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 297,482 shares of the aerospace company’s stock valued at $21,627,000 after purchasing an additional 135,445 shares in the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AIR. Stifel Nicolaus decreased their target price on shares of AAR from $86.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, July 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $75.00 price target on shares of AAR in a research note on Monday. StockNews.com upgraded AAR from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Finally, Benchmark restated a “buy” rating and issued a $83.00 price target on shares of AAR in a research report on Friday, October 4th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.00.

AAR Stock Performance

AIR stock opened at $65.71 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.45 and a current ratio of 3.06. The stock’s fifty day moving average is $63.89 and its two-hundred day moving average is $66.73. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 36.10 and a beta of 1.57. AAR Corp. has a 1 year low of $54.71 and a 1 year high of $76.34.

AAR (NYSE:AIR) last issued its quarterly earnings data on Monday, September 23rd. The aerospace company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. AAR had a return on equity of 10.22% and a net margin of 2.67%. The business had revenue of $661.70 million during the quarter, compared to analyst estimates of $645.60 million. During the same period in the prior year, the company posted $0.78 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, research analysts predict that AAR Corp. will post 3.63 EPS for the current year.

AAR Company Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Parts Supply segment leases and sells aircraft components and replacement parts. The Repair & Engineering segment provides airframe maintenance services, such as airframe inspection, painting, line maintenance, airframe modification, structural repair, avionics service and installation, exterior and interior refurbishment, and engineering and support services; component repair services comprising maintenance, repair, and overhaul (MRO) services, engine and airframe accessories, and interior refurbishment; and landing gear overhaul services, including repair services on wheels and brakes.