Bank of New York Mellon Corp increased its stake in AAR Corp. (NYSE:AIR) by 3.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 506,440 shares of the aerospace company’s stock after buying an additional 14,929 shares during the period. Bank of New York Mellon Corp’s holdings in AAR Corp. were worth $17,031,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in shares of AAR Corp. during the fourth quarter valued at about $9,971,000. State Street Corp raised its stake in shares of AAR Corp. by 28.9% in the fourth quarter. State Street Corp now owns 1,063,773 shares of the aerospace company’s stock valued at $35,161,000 after buying an additional 238,508 shares during the last quarter. Norges Bank bought a new stake in shares of AAR Corp. during the fourth quarter valued at about $6,654,000. Columbus Circle Investors raised its stake in shares of AAR Corp. by 58.6% in the first quarter. Columbus Circle Investors now owns 393,385 shares of the aerospace company’s stock valued at $13,230,000 after buying an additional 145,348 shares during the last quarter. Finally, Heartland Advisors Inc. bought a new stake in shares of AAR Corp. during the first quarter valued at about $4,611,000. Institutional investors own 90.24% of the company’s stock.

Institutional Ownership by Quarter for AAR Corp. (NYSE:AIR)

AAR Corp. (AIR) opened at 35.38 on Tuesday. The company has a 50-day moving average of $34.97 and a 200 day moving average of $34.29. AAR Corp. has a 12-month low of $21.78 and a 12-month high of $38.75. The company has a market capitalization of $1.19 billion, a P/E ratio of 25.84 and a beta of 1.41.

AAR Corp. (NYSE:AIR) last announced its earnings results on Tuesday, March 21st. The aerospace company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. AAR Corp. had a net margin of 2.73% and a return on equity of 5.32%. The business had revenue of $446.70 million during the quarter, compared to analysts’ expectations of $421.60 million. During the same period in the prior year, the company earned $0.26 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. Equities research analysts forecast that AAR Corp. will post $1.46 earnings per share for the current fiscal year.

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Several research analysts recently commented on AIR shares. Zacks Investment Research raised shares of AAR Corp. from a “sell” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Tuesday, May 23rd. Noble Financial started coverage on shares of AAR Corp. in a report on Monday, April 3rd. They issued a “buy” rating and a $40.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average price target of $46.80.

In other news, VP John Mcclain Holmes III sold 5,000 shares of the stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $34.10, for a total value of $170,500.00. Following the completion of the sale, the vice president now directly owns 129,030 shares of the company’s stock, valued at $4,399,923. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Anthony Anderson sold 3,500 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $35.21, for a total transaction of $123,235.00. The disclosure for this sale can be found here. 8.23% of the stock is currently owned by corporate insiders.

About AAR Corp.

AAR CORP. (AAR) is a provider of services and products to the commercial aviation and government and defense markets. The Company operates in two segments: Aviation Services, which consists of supply chain and maintenance, repair and overhaul (MRO) activities, and Expeditionary Services, which includes airlift and mobility activities.

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