Earnest Partners LLC Lowers Stock Holdings in AAR Corp. (NYSE:AIR)

Earnest Partners LLC lowered its position in shares of AAR Corp. (NYSE:AIR - Free Report) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,527,647 shares of the aerospace company's stock after selling 11,561 shares during the quarter. Earnest Partners LLC owned approximately 4.25% of AAR worth $93,614,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. boosted its stake in AAR by 13.5% during the 4th quarter. Invesco Ltd. now owns 1,070,618 shares of the aerospace company's stock worth $65,607,000 after purchasing an additional 127,148 shares during the last quarter. Franklin Resources Inc. boosted its position in AAR by 13.4% during the third quarter. Franklin Resources Inc. now owns 969,741 shares of the aerospace company's stock worth $59,591,000 after acquiring an additional 114,460 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in AAR during the 4th quarter valued at about $6,849,000. Norges Bank acquired a new stake in AAR in the 4th quarter valued at about $6,321,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of AAR by 215.9% during the 4th quarter. JPMorgan Chase & Co. now owns 128,676 shares of the aerospace company's stock worth $7,885,000 after purchasing an additional 87,939 shares during the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

AAR Stock Up 3.0 %

AAR stock traded up $1.64 during trading on Friday, reaching $56.74. The stock had a trading volume of 139,282 shares, compared to its average volume of 274,426. AAR Corp. has a 52-week low of $46.51 and a 52-week high of $76.34. The business has a 50 day moving average price of $59.08 and a 200 day moving average price of $63.20. The company has a quick ratio of 1.27, a current ratio of 2.68 and a debt-to-equity ratio of 0.84. The stock has a market cap of $2.05 billion, a PE ratio of 202.98 and a beta of 1.32.

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