Emerald Mutual Fund Advisers Trust Sells 9,512 Shares of AAR Corp. (NYSE:AIR)

Emerald Mutual Fund Advisers Trust cut its stake in AAR Corp. (NYSE:AIR - Free Report) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,061 shares of the aerospace company's stock after selling 9,512 shares during the period. Emerald Mutual Fund Advisers Trust owned approximately 0.78% of AAR worth $15,737,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AIR. Bank of America Corp DE raised its holdings in AAR by 293.3% in the 4th quarter. Bank of America Corp DE now owns 171,203 shares of the aerospace company's stock valued at $10,491,000 after acquiring an additional 127,668 shares in the last quarter. Invesco Ltd. raised its holdings in AAR by 13.5% in the 4th quarter. Invesco Ltd. now owns 1,070,618 shares of the aerospace company's stock valued at $65,607,000 after acquiring an additional 127,148 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in AAR by 8.7% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,441,154 shares of the aerospace company's stock valued at $88,314,000 after acquiring an additional 115,476 shares in the last quarter. Raymond James Financial Inc. acquired a new position in AAR in the 4th quarter valued at $6,849,000. Finally, Norges Bank acquired a new position in AAR in the 4th quarter valued at $6,321,000. 90.74% of the stock is owned by institutional investors and hedge funds.

AAR Price Performance

Shares of AAR stock traded up $0.04 during trading on Friday, reaching $74.59. 570,267 shares of the company's stock were exchanged, compared to its average volume of 278,706. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.39 and a current ratio of 2.82. AAR Corp. has a 1-year low of $46.51 and a 1-year high of $76.34. The company has a market cap of $2.69 billion, a P/E ratio of -207.19 and a beta of 1.44. The firm's 50-day moving average price is $65.54 and its 200 day moving average price is $63.50.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AIR shares. Wall Street Zen raised AAR from a "sell" rating to a "hold" rating in a report on Saturday, April 19th. KeyCorp lowered their price target on AAR from $83.00 to $80.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Finally, Truist Financial boosted their price target on AAR from $78.00 to $81.00 and gave the stock a "buy" rating in a report on Friday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, AAR has a consensus rating of "Moderate Buy" and a consensus target price of $80.80.

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.