AAR Corp. (NYSE:AIR) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its position 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. The fund owned 48,959 shares of the aerospace company's stock after selling 6,700 shares during the period. New York State Teachers Retirement System owned about 0.14% of AAR worth $2,741,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

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

AAR Stock Performance

AAR stock traded up $1.12 during mid-day trading on Thursday, reaching $74.38. 96,269 shares of the company traded hands, compared to its average volume of 276,654. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.82 and a quick ratio of 1.39. AAR Corp. has a fifty-two week low of $46.51 and a fifty-two week high of $76.34. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -206.76 and a beta of 1.44. The firm's fifty day moving average is $64.80 and its two-hundred day moving average is $63.31.

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.