AAR Corp. (NYSE:AIR) Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. reduced its stake in shares of AAR Corp. (NYSE:AIR) by 33.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,425 shares of the aerospace company’s stock after selling 8,675 shares during the quarter. New England Research & Management Inc.’s holdings in AAR were worth $1,139,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of AAR during the second quarter valued at $1,745,000. Truist Financial Corp increased its stake in AAR by 3.4% in the second quarter. Truist Financial Corp now owns 9,040 shares of the aerospace company’s stock valued at $657,000 after purchasing an additional 296 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its stake in AAR by 31.3% during the second quarter. Susquehanna Fundamental Investments LLC now owns 11,931 shares of the aerospace company’s stock worth $867,000 after purchasing an additional 2,841 shares during the period. The Manufacturers Life Insurance Company increased its position in AAR by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,454 shares of the aerospace company’s stock worth $1,414,000 after purchasing an additional 958 shares in the last quarter. Finally, Millennium Management LLC raised its position in AAR by 37.4% in the second quarter. Millennium Management LLC now owns 310,144 shares of the aerospace company’s stock valued at $22,547,000 after purchasing an additional 84,459 shares during the period. 90.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Stifel Nicolaus dropped their price target 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 reaffirmed an “outperform” rating and set a $85.00 target price on shares of AAR in a research note on Tuesday, September 24th. Benchmark reiterated a “buy” rating and set a $83.00 price objective on shares of AAR in a research report on Friday. Finally, StockNews.com cut shares of AAR from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.50.

AAR Stock Performance

Shares of AIR traded down $1.21 during midday trading on Monday, reaching $64.27. 177,474 shares of the stock were exchanged, compared to its average volume of 310,251. The company has a market cap of $2.28 billion, a P/E ratio of 37.81 and a beta of 1.55. AAR Corp. has a twelve month low of $54.71 and a twelve month high of $76.34. The company has a quick ratio of 1.41, a current ratio of 2.98 and a debt-to-equity ratio of 0.83. The stock’s 50 day simple moving average is $64.31 and its 200 day simple moving average is $66.70.

AAR (NYSE:AIR) last issued its quarterly earnings results on Monday, September 23rd. The aerospace company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. AAR had a return on equity of 10.31% and a net margin of 2.67%. The firm had revenue of $661.70 million for the quarter, compared to analyst estimates of $645.60 million. During the same period in the previous year, the firm earned $0.78 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. On average, sell-side analysts expect that AAR Corp. will post 3.72 earnings per share 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.