Ameriprise Financial Inc. Has $9.56 Million Position in AAR Corp. (NYSE:AIR)

Ameriprise Financial Inc. cut its holdings in shares of AAR Corp. (NYSE:AIR - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,037 shares of the aerospace company's stock after selling 10,189 shares during the period. Ameriprise Financial Inc. owned approximately 0.43% of AAR worth $9,562,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Algert Global LLC grew its position in AAR by 29.5% during the 4th quarter. Algert Global LLC now owns 61,376 shares of the aerospace company's stock worth $3,761,000 after purchasing an additional 13,966 shares in the last quarter. Alyeska Investment Group L.P. grew its position in AAR by 25.9% during the 4th quarter. Alyeska Investment Group L.P. now owns 201,217 shares of the aerospace company's stock worth $12,331,000 after purchasing an additional 41,426 shares in the last quarter. Freestone Grove Partners LP purchased a new position in AAR during the 4th quarter worth approximately $348,000. Susquehanna Fundamental Investments LLC purchased a new position in AAR during the 4th quarter worth approximately $2,185,000. Finally, Voya Investment Management LLC grew its position in AAR by 9.3% during the 4th quarter. Voya Investment Management LLC now owns 12,208 shares of the aerospace company's stock worth $748,000 after purchasing an additional 1,034 shares in the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

AAR Stock Down 0.5%

AIR stock traded down $0.29 during midday trading on Monday, reaching $59.80. The company had a trading volume of 120,977 shares, compared to its average volume of 275,316. AAR Corp. has a 1 year low of $46.51 and a 1 year high of $76.34. 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 company has a market capitalization of $2.16 billion, a P/E ratio of 213.58 and a beta of 1.40. The company has a 50 day moving average of $57.40 and a two-hundred day moving average of $63.09.

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. AAR had a net margin of 0.41% and a return on equity of 10.46%. The company had revenue of $678.20 million for the quarter, compared to analyst estimates of $699.13 million. During the same quarter in the prior year, the business posted $0.85 EPS. AAR's quarterly revenue was up 19.5% on a year-over-year basis. On average, equities research analysts expect that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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