Fred Alger Management LLC Sells 105,564 Shares of AAR Corp. (NYSE:AIR)

Fred Alger Management LLC lessened its stake in shares of AAR Corp. (NYSE:AIR - Free Report) by 20.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 402,678 shares of the aerospace company's stock after selling 105,564 shares during the period. Fred Alger Management LLC owned about 1.12% of AAR worth $24,676,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of AIR. Sterling Capital Management LLC lifted its holdings in shares of AAR by 761.2% in the fourth quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company's stock valued at $54,000 after purchasing an additional 784 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of AAR by 124.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the aerospace company's stock worth $62,000 after acquiring an additional 561 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of AAR during the fourth quarter worth $80,000. Venturi Wealth Management LLC raised its holdings in shares of AAR by 1,965.6% during the fourth quarter. Venturi Wealth Management LLC now owns 1,322 shares of the aerospace company's stock worth $81,000 after acquiring an additional 1,258 shares in the last quarter. Finally, Toth Financial Advisory Corp raised its holdings in shares of AAR by 133.3% during the fourth quarter. Toth Financial Advisory Corp now owns 1,400 shares of the aerospace company's stock worth $86,000 after acquiring an additional 800 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. KeyCorp cut their price objective on AAR from $83.00 to $80.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. StockNews.com upgraded AAR from a "sell" rating to a "hold" rating in a report on Saturday, April 19th. Finally, Truist Financial cut their price objective on AAR from $81.00 to $78.00 and set a "buy" rating for the company in a report on Friday, March 28th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, AAR has a consensus rating of "Moderate Buy" and a consensus target price of $80.20.

AAR Stock Up 0.4%

AAR stock traded up $0.25 during mid-day trading on Friday, hitting $59.82. 201,929 shares of the company's stock were exchanged, compared to its average volume of 275,570. The company has a current ratio of 2.68, a quick ratio of 1.27 and a debt-to-equity ratio of 0.84. The stock has a market cap of $2.16 billion, a P/E ratio of 213.65 and a beta of 1.40. AAR Corp. has a 1-year low of $46.51 and a 1-year high of $76.34. The stock has a 50 day moving average of $58.46 and a two-hundred day moving average of $63.09.

AAR (NYSE:AIR - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.03. AAR had a return on equity of 10.46% and a net margin of 0.41%. The company had revenue of $678.20 million for the quarter, compared to the consensus estimate of $699.13 million. During the same period last year, the business posted $0.85 earnings per share. The firm's revenue was up 19.5% compared to the same quarter last year. As a group, analysts anticipate that AAR Corp. will post 3.77 EPS for the current fiscal year.

About AAR

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.