AAR Corp. (NYSE:AIR) Shares Sold by Principal Financial Group Inc.

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

A number of other hedge funds and other institutional investors also recently modified their holdings of AIR. Putney Financial Group LLC acquired a new position in shares of AAR during the fourth quarter worth $30,000. Virtus Fund Advisers LLC acquired a new position in AAR in the 4th quarter worth $36,000. Sterling Capital Management LLC lifted its stake 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 worth $54,000 after acquiring an additional 784 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of AAR by 124.4% in 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. Finally, GAMMA Investing LLC lifted its stake in shares of AAR by 88.5% in the first quarter. GAMMA Investing LLC now owns 1,131 shares of the aerospace company's stock worth $63,000 after acquiring an additional 531 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company's stock.

AAR Stock Performance

AIR stock opened at $71.62 on Wednesday. The company has a current ratio of 2.82, a quick ratio of 1.39 and a debt-to-equity ratio of 0.86. The firm has a market cap of $2.59 billion, a P/E ratio of -198.94 and a beta of 1.44. AAR Corp. has a 12-month low of $46.51 and a 12-month high of $76.34. The stock's 50 day simple moving average is $64.40 and its 200 day simple moving average is $63.24.

Wall Street Analyst Weigh In

AIR has been the topic of a number of recent analyst reports. Truist Financial cut their target price on AAR from $81.00 to $78.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. KeyCorp cut their price target on shares of AAR from $83.00 to $80.00 and set an "overweight" rating on the stock 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 equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $80.20.

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.

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