Ameriprise Financial Inc. Sells 10,189 Shares of AAR Corp. (NYSE:AIR)

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

A number of other institutional investors also recently modified their holdings of the stock. Barclays PLC grew its position in shares of AAR by 269.4% during the 3rd quarter. Barclays PLC now owns 66,223 shares of the aerospace company's stock worth $4,328,000 after buying an additional 48,298 shares during the period. JPMorgan Chase & Co. lifted its position in shares of AAR by 9.7% in the third quarter. JPMorgan Chase & Co. now owns 40,737 shares of the aerospace company's stock worth $2,663,000 after purchasing an additional 3,612 shares in the last quarter. ZWJ Investment Counsel Inc. bought a new stake in AAR during the fourth quarter worth $203,000. Sheets Smith Wealth Management raised its position in AAR by 3.2% during the fourth quarter. Sheets Smith Wealth Management now owns 7,015 shares of the aerospace company's stock worth $430,000 after acquiring an additional 220 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of AAR in the fourth quarter valued at about $1,539,000. 90.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AIR shares. Wall Street Zen upgraded shares of AAR from a "sell" rating to a "hold" rating in a research note on Saturday, April 19th. Truist Financial lowered their price target 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. Finally, KeyCorp reduced their price target 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. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $80.20.

AAR Stock Performance

Shares of NYSE:AIR traded down $0.29 during midday trading on Friday, reaching $59.80. The company had a trading volume of 120,977 shares, compared to its average volume of 274,946. AAR Corp. has a 52-week low of $46.51 and a 52-week high of $76.34. The company's 50 day moving average price is $57.58 and its 200 day moving average price is $63.15. The stock has a market cap of $2.16 billion, a P/E ratio of 213.58 and a beta of 1.40. The company has a current ratio of 2.68, a quick ratio of 1.27 and a debt-to-equity ratio of 0.84.

AAR (NYSE:AIR - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.03. The firm had revenue of $678.20 million for the quarter, compared to analysts' expectations of $699.13 million. AAR had a return on equity of 10.46% and a net margin of 0.41%. The company's revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 earnings per share. As a group, sell-side analysts anticipate that AAR Corp. will post 3.77 EPS for the current fiscal year.

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.