State Street Corp Sells 208,054 Shares of AAR Corp. (NYSE:AIR)

State Street Corp trimmed its stake in AAR Corp. (NYSE:AIR) by 10.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,765,195 shares of the aerospace company’s stock after selling 208,054 shares during the period. State Street Corp owned approximately 4.92% of AAR worth $115,373,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Amalgamated Bank lifted its stake in shares of AAR by 1.7% in the 3rd quarter. Amalgamated Bank now owns 10,319 shares of the aerospace company’s stock valued at $674,000 after purchasing an additional 177 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of AAR by 5.3% in the 3rd quarter. Captrust Financial Advisors now owns 3,537 shares of the aerospace company’s stock valued at $231,000 after purchasing an additional 177 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of AAR by 6.1% in the 3rd quarter. HighTower Advisors LLC now owns 3,818 shares of the aerospace company’s stock valued at $249,000 after purchasing an additional 220 shares during the last quarter. Global Financial Private Client LLC lifted its stake in shares of AAR by 4.0% in the 2nd quarter. Global Financial Private Client LLC now owns 5,838 shares of the aerospace company’s stock valued at $424,000 after purchasing an additional 225 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of AAR by 43.0% in the second quarter. EverSource Wealth Advisors LLC now owns 778 shares of the aerospace company’s stock worth $57,000 after buying an additional 234 shares during the period. 90.74% of the stock is owned by institutional investors.

AAR Trading Down 0.7 %

Shares of NYSE:AIR opened at $63.22 on Monday. AAR Corp. has a 12-month low of $54.71 and a 12-month high of $76.34. The business’s fifty day simple moving average is $64.69 and its 200-day simple moving average is $66.16. The company has a market capitalization of $2.27 billion, a PE ratio of 34.74 and a beta of 1.59. The company has a current ratio of 3.06, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on AIR. StockNews.com upgraded AAR from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $75.00 price target on shares of AAR in a report on Monday, November 4th. Finally, Benchmark reiterated a “buy” rating and issued a $83.00 price target on shares of AAR in a report on Friday, October 4th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $81.00.

AAR 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.