Principal Financial Group Inc. Reduces Stock Holdings in AAR Corp. (NYSE:AIR)

Principal Financial Group Inc. cut its stake in shares of AAR Corp. (NYSE:AIR - Free Report) by 1.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 483,951 shares of the aerospace company's stock after selling 5,494 shares during the period. Principal Financial Group Inc. owned about 1.34% of AAR worth $27,096,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas purchased a new stake in shares of AAR during the first quarter worth $294,000. Peregrine Capital Management LLC grew its holdings in shares of AAR by 3.4% during the first quarter. Peregrine Capital Management LLC now owns 146,298 shares of the aerospace company's stock worth $8,191,000 after buying an additional 4,798 shares in the last quarter. Sheets Smith Wealth Management grew its holdings in shares of AAR by 3.8% during the first quarter. Sheets Smith Wealth Management now owns 7,281 shares of the aerospace company's stock worth $408,000 after buying an additional 266 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of AAR by 10.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 36,171 shares of the aerospace company's stock worth $2,025,000 after buying an additional 3,513 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of AAR by 88.5% during the first quarter. GAMMA Investing LLC now owns 1,131 shares of the aerospace company's stock worth $63,000 after buying an additional 531 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.

AAR Trading Up 1.3%

Shares of AIR traded up $0.93 during mid-day trading on Thursday, reaching $74.19. The stock had a trading volume of 25,882 shares, compared to its average volume of 276,350. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.82 and a quick ratio of 1.39. AAR Corp. has a 52-week low of $46.51 and a 52-week high of $76.34. The business's fifty day moving average is $64.80 and its 200 day moving average is $63.31. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -204.84 and a beta of 1.44.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AIR. Truist Financial dropped their target price on shares of AAR from $81.00 to $78.00 and set a "buy" rating for the company in a report on Friday, March 28th. KeyCorp dropped their target price on shares of AAR from $83.00 to $80.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Finally, Wall Street Zen raised shares of AAR from a "sell" rating to a "hold" rating in a report on Saturday, April 19th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, AAR presently has an average rating of "Moderate Buy" and a consensus price target of $80.20.

AAR 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.