AAR Corp. $AIR Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its stake in shares of AAR Corp. (NYSE:AIR) by 42.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 8,517 shares of the aerospace company’s stock after selling 6,192 shares during the period. State of Alaska Department of Revenue’s holdings in AAR were worth $863,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in AIR. BlackRock Inc. purchased a new position in AAR during the second quarter valued at $925,068,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of AAR in the second quarter valued at about $84,251,000. Principal Financial Group Inc. increased its stake in shares of AAR by 4.9% during the first quarter. Principal Financial Group Inc. now owns 675,686 shares of the aerospace company’s stock worth $73,961,000 after purchasing an additional 31,583 shares in the last quarter. Emerald Advisers LLC increased its stake in shares of AAR by 6.3% during the first quarter. Emerald Advisers LLC now owns 445,693 shares of the aerospace company’s stock worth $48,786,000 after purchasing an additional 26,223 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of AAR during the second quarter worth about $39,024,000. 90.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Weiss Ratings downgraded shares of AAR from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 25th. Zacks Research downgraded AAR from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Guggenheim reaffirmed a “neutral” rating on shares of AAR in a research note on Tuesday, September 29th. KeyCorp reaffirmed a “sector weight” rating on shares of AAR in a research note on Wednesday, July 22nd. Finally, Jefferies Financial Group boosted their price target on AAR from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, September 29th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $140.60.

AAR Price Performance

AAR stock opened at $99.58 on Thursday. The company has a fifty day simple moving average of $118.63 and a 200-day simple moving average of $123.00. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 20.41 and a beta of 1.13. The company has a quick ratio of 1.28, a current ratio of 2.83 and a debt-to-equity ratio of 0.50. AAR Corp. has a 52-week low of $76.10 and a 52-week high of $154.00.

AAR (NYSE:AIR) last posted its quarterly earnings results on Monday, September 28th. The aerospace company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.19. The firm had revenue of $918.00 million for the quarter, compared to the consensus estimate of $878.81 million. AAR had a net margin of 5.55% and a return on equity of 12.99%. The company’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period last year, the firm posted $1.08 earnings per share. On average, equities analysts anticipate that AAR Corp. will post 5.89 EPS for the current fiscal year.

About AAR

AAR Corp. (NYSE: AIR) is a global aviation services company that provides products and support to commercial airlines, government agencies and defense customers. Its offerings include aircraft parts and supply-chain management, component repair and overhaul, airframe maintenance, engineering services, fleet management and expeditionary logistics.

The company operates through businesses that support the maintenance and operation of aircraft throughout their life cycles. AAR distributes aviation parts and manages inventory, performs maintenance, repair and overhaul services for airframes and aircraft components, and provides logistics and aftermarket support for commercial and government fleets.

Founded in 1955, AAR is headquartered in Wood Dale, Illinois, and serves customers across North America and international markets.