New York State Teachers Retirement System Sells 6,700 Shares of AAR Corp. (NYSE:AIR)

New York State Teachers Retirement System cut its holdings in shares of AAR Corp. (NYSE:AIR - Free Report) by 12.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,959 shares of the aerospace company's stock after selling 6,700 shares during the quarter. New York State Teachers Retirement System owned approximately 0.14% of AAR worth $2,741,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new stake in shares of AAR in the 1st quarter valued at approximately $526,000. Charles Schwab Investment Management Inc. increased its stake in shares of AAR by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 538,125 shares of the aerospace company's stock worth $32,976,000 after purchasing an additional 19,863 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of AAR by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 3,840,885 shares of the aerospace company's stock valued at $235,369,000 after purchasing an additional 58,694 shares during the period. Raymond James Financial Inc. acquired a new stake in AAR in the 4th quarter valued at about $6,849,000. Finally, GAMMA Investing LLC increased its position in AAR by 10,454.2% during the first quarter. GAMMA Investing LLC now owns 63,325 shares of the aerospace company's stock worth $3,546,000 after buying an additional 62,725 shares during the last quarter. 90.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

AAR Trading Up 0.1%

Shares of AIR stock traded up $0.04 during mid-day trading on Friday, reaching $74.59. 570,267 shares of the stock traded hands, compared to its average volume of 278,755. The stock's fifty day simple moving average is $65.19 and its two-hundred day simple moving average is $63.41. 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 price-to-earnings ratio of -207.19 and a beta of 1.44. The company has a quick ratio of 1.39, a current ratio of 2.82 and a debt-to-equity ratio of 0.86.

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.