Millennium Management LLC Cuts Stake in AAR Corp. (NYSE:AIR)

Millennium Management LLC lessened its stake in shares of AAR Corp. (NYSE:AIR - Free Report) by 69.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,358 shares of the aerospace company's stock after selling 220,737 shares during the quarter. Millennium Management LLC owned about 0.28% of AAR worth $6,089,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Sterling Capital Management LLC lifted its position in shares of AAR by 761.2% in the fourth quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company's stock valued at $54,000 after acquiring an additional 784 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in AAR by 124.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the aerospace company's stock valued at $62,000 after purchasing an additional 561 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in AAR in the 4th quarter valued at about $80,000. Venturi Wealth Management LLC grew its holdings in shares of AAR by 1,965.6% during the fourth quarter. Venturi Wealth Management LLC now owns 1,322 shares of the aerospace company's stock worth $81,000 after buying an additional 1,258 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of AAR by 42.5% during the fourth quarter. KBC Group NV now owns 1,887 shares of the aerospace company's stock worth $116,000 after buying an additional 563 shares in the last quarter. Hedge funds and other institutional investors own 90.74% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AIR. Truist Financial reduced their price objective on shares of AAR from $81.00 to $78.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Wall Street Zen raised AAR from a "sell" rating to a "hold" rating in a research note on Saturday, April 19th. Finally, KeyCorp lowered their price objective on AAR from $83.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $80.20.

AAR Trading Down 1.1%

AAR stock traded down $0.71 during trading on Friday, reaching $61.44. The company had a trading volume of 250,564 shares, compared to its average volume of 275,447. AAR Corp. has a 12-month low of $46.51 and a 12-month high of $76.34. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.27 and a current ratio of 2.68. The stock's 50 day moving average price is $57.02 and its two-hundred day moving average price is $63.05. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 219.44 and a beta of 1.40.

AAR (NYSE:AIR - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $699.13 million. During the same period in the previous year, the company earned $0.85 EPS. The business's quarterly revenue was up 19.5% compared to the same quarter last year. As a group, equities analysts expect that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

About AAR

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.