Emerald Mutual Fund Advisers Trust Cuts Stock Position in AAR Corp. (NYSE:AIR)

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

Several other hedge funds have also added to or reduced their stakes in AIR. US Bancorp DE raised its position in shares of AAR by 3.8% during the fourth quarter. US Bancorp DE now owns 6,118 shares of the aerospace company's stock worth $375,000 after acquiring an additional 225 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of AAR by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 538,125 shares of the aerospace company's stock worth $32,976,000 after acquiring an additional 19,863 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of AAR by 2.7% during the fourth quarter. Victory Capital Management Inc. now owns 14,847 shares of the aerospace company's stock worth $910,000 after acquiring an additional 390 shares during the last quarter. Arizona State Retirement System raised its position in shares of AAR by 2.1% during the fourth quarter. Arizona State Retirement System now owns 10,420 shares of the aerospace company's stock worth $639,000 after acquiring an additional 219 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of AAR during the fourth quarter worth about $6,849,000. 90.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

AAR Stock Down 1.7%

AAR stock traded down $1.30 during mid-day trading on Tuesday, reaching $73.42. The stock had a trading volume of 432,671 shares, compared to its average volume of 279,831. 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 fifty-two week low of $46.51 and a fifty-two week high of $76.34. The stock's 50-day simple moving average is $65.54 and its 200-day simple moving average is $63.54. The firm has a market capitalization of $2.65 billion, a PE ratio of -203.95 and a beta of 1.44.

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.