Bank of New York Mellon Corp Sells 11,919 Shares of AAR Corp. (NYSE:AIR)

Bank of New York Mellon Corp lessened its stake in shares of AAR Corp. (NYSE:AIR - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 272,573 shares of the aerospace company's stock after selling 11,919 shares during the period. Bank of New York Mellon Corp owned about 0.75% of AAR worth $15,261,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Putney Financial Group LLC bought a new stake in shares of AAR in the 4th quarter valued at approximately $30,000. Virtus Fund Advisers LLC acquired a new position in shares of AAR during the fourth quarter worth approximately $36,000. Sterling Capital Management LLC lifted its holdings in shares of 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 buying an additional 784 shares during the last quarter. GAMMA Investing LLC raised 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 valued at $63,000 after purchasing an additional 531 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of AAR in the fourth quarter valued at $80,000. Hedge funds and other institutional investors own 90.74% of the company's stock.

Wall Street Analysts Forecast Growth

AIR has been the topic of a number of analyst reports. Wall Street Zen upgraded AAR from a "hold" rating to a "buy" rating in a research report on Friday. Royal Bank Of Canada raised their price target on AAR from $75.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. KeyCorp increased their target price on AAR from $80.00 to $86.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, Truist Financial raised their price target on AAR from $78.00 to $81.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $83.75.

AAR Stock Down 1.5%

Shares of NYSE:AIR traded down $1.18 during mid-day trading on Tuesday, reaching $79.38. 125,897 shares of the stock were exchanged, compared to its average volume of 285,573. The company has a quick ratio of 1.26, a current ratio of 2.72 and a debt-to-equity ratio of 0.80. The stock's 50 day simple moving average is $67.49 and its 200-day simple moving average is $64.14. The company has a market cap of $2.87 billion, a P/E ratio of 240.55 and a beta of 1.44. AAR Corp. has a one year low of $46.51 and a one year high of $86.43.

AAR (NYSE:AIR - Get Free Report) last issued its earnings results on Wednesday, July 16th. The aerospace company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.00 by $0.16. AAR had a return on equity of 11.66% and a net margin of 0.45%. The company had revenue of $754.50 million during the quarter, compared to the consensus estimate of $695.81 million. During the same period in the previous year, the company posted $0.88 EPS. The firm's revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, equities research analysts predict that AAR Corp. will post 3.77 EPS for the current year.

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.