AAR Corp. (NYSE:AIR) Shares Sold by State Street Corp

State Street Corp lowered its stake in shares of AAR Corp. (NYSE:AIR) by 10.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,765,195 shares of the aerospace company’s stock after selling 208,054 shares during the period. State Street Corp’s holdings in AAR were worth $115,373,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Stifel Financial Corp raised its stake in shares of AAR by 4.1% during the 3rd quarter. Stifel Financial Corp now owns 22,859 shares of the aerospace company’s stock valued at $1,494,000 after buying an additional 893 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of AAR by 6.1% during the 3rd quarter. HighTower Advisors LLC now owns 3,818 shares of the aerospace company’s stock valued at $249,000 after buying an additional 220 shares during the last quarter. PDT Partners LLC purchased a new position in shares of AAR during the 3rd quarter valued at about $503,000. Verition Fund Management LLC raised its stake in shares of AAR by 28.7% during the 3rd quarter. Verition Fund Management LLC now owns 18,017 shares of the aerospace company’s stock valued at $1,178,000 after buying an additional 4,015 shares during the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of AAR by 5.3% during the 3rd quarter. Captrust Financial Advisors now owns 3,537 shares of the aerospace company’s stock valued at $231,000 after buying an additional 177 shares during the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.

AAR Price Performance

Shares of AAR stock opened at $63.22 on Monday. The company has a quick ratio of 1.45, a current ratio of 3.06 and a debt-to-equity ratio of 0.81. AAR Corp. has a twelve month low of $54.71 and a twelve month high of $76.34. The business has a 50-day moving average price of $64.69 and a 200 day moving average price of $66.16. The firm has a market cap of $2.27 billion, a PE ratio of 34.74 and a beta of 1.59.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on AIR. Royal Bank of Canada reiterated an “outperform” rating and set a $75.00 price objective on shares of AAR in a research note on Monday, November 4th. Benchmark restated a “buy” rating and issued a $83.00 price target on shares of AAR in a research note on Friday, October 4th. Finally, StockNews.com upgraded AAR from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.00.

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.