AAR Corp. (NYSE:AIR) Stake Trimmed by Principal Financial Group Inc.

Principal Financial Group Inc. cut 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 filing with the Securities & Exchange Commission. The firm owned 483,951 shares of the aerospace company's stock after selling 5,494 shares during the quarter. Principal Financial Group Inc. owned about 1.34% of AAR worth $27,096,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AIR. Putney Financial Group LLC acquired a new stake in AAR during the 4th quarter worth approximately $30,000. Virtus Fund Advisers LLC purchased a new position in shares of AAR during the 4th quarter valued at approximately $36,000. Sterling Capital Management LLC lifted its stake in AAR by 761.2% during the fourth quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company's stock worth $54,000 after purchasing an additional 784 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in 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 purchasing an additional 561 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in 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 purchasing an additional 531 shares during the last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. 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 note on Friday, March 28th. KeyCorp lowered their price target on 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 AAR from a "sell" rating to a "hold" rating in a report on Saturday, April 19th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $80.20.

AAR Stock Performance

Shares of AIR traded up $1.86 during trading hours on Wednesday, reaching $73.51. 416,155 shares of the company's stock traded hands, compared to its average volume of 277,045. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of -204.19 and a beta of 1.44. 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 twelve month low of $46.51 and a twelve month high of $76.34. The business's fifty day simple moving average is $64.40 and its two-hundred day simple moving average is $63.24.

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.