Principal Financial Group Inc. Has $73.96 Million Stock Position in AAR Corp. $AIR

Key Points

• Principal Financial Group boosted its stake in AAR Corp. by 4.9% in Q1, buying 31,583 additional shares and bringing its total holding to 675,686 shares worth about $73.96 million.
• Institutional ownership in AAR remains very high at 90.74%, with several other funds also modestly increasing their positions in the aerospace company.
• Analysts are mixed but generally positive on AAR: the stock has a consensus Buy rating and an average price target of $132.20, while shares recently traded at $133.47, near their 12-month high of $146.75.

Principal Financial Group Inc. increased its stake in shares of AAR Corp. (NYSE:AIR - Free Report) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 675,686 shares of the aerospace company's stock after purchasing an additional 31,583 shares during the period. Principal Financial Group Inc. owned approximately 1.70% of AAR worth $73,961,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AIR. Lido Advisors LLC lifted its stake in AAR by 2.8% in the fourth quarter. Lido Advisors LLC now owns 3,618 shares of the aerospace company's stock valued at $318,000 after buying an additional 98 shares during the period. Smartleaf Asset Management LLC grew its position in shares of AAR by 12.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,162 shares of the aerospace company's stock worth $97,000 after buying an additional 126 shares during the period. CWM LLC increased its stake in shares of AAR by 19.3% in the 4th quarter. CWM LLC now owns 950 shares of the aerospace company's stock valued at $79,000 after acquiring an additional 154 shares during the last quarter. Captrust Financial Advisors increased its stake in shares of AAR by 5.2% in the 4th quarter. Captrust Financial Advisors now owns 3,395 shares of the aerospace company's stock valued at $281,000 after acquiring an additional 168 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of AAR by 5.2% in the 4th quarter. Russell Investments Group Ltd. now owns 3,432 shares of the aerospace company's stock valued at $284,000 after acquiring an additional 171 shares during the period. Institutional investors own 90.74% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. KeyCorp lowered shares of AAR from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, June 30th. Zacks Research upgraded shares of AAR from a "hold" rating to a "strong-buy" rating in a report on Friday, July 10th. Wall Street Zen lowered shares of AAR from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 14th. Truist Financial raised shares of AAR to a "strong-buy" rating in a report on Friday, May 1st. Finally, Weiss Ratings cut shares of AAR from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $132.20.

AAR Stock Performance

Shares of AIR stock opened at $133.47 on Friday. AAR Corp. has a 12 month low of $71.43 and a 12 month high of $146.75. The company's fifty day simple moving average is $124.11 and its 200-day simple moving average is $114.18. The firm has a market cap of $5.31 billion, a PE ratio of 29.59 and a beta of 1.09. The company has a quick ratio of 1.23, a current ratio of 2.70 and a debt-to-equity ratio of 0.54.

About AAR

AAR Corp. NYSE: AIR is a global provider of aviation products and services to commercial, government and defense customers. The company offers a comprehensive portfolio of maintenance, repair and overhaul (MRO) solutions, component repair and overhaul, and engineering services designed to support a wide variety of fixed-wing and rotary aircraft. Leveraging FAA and EASA certifications, AAR delivers turnkey maintenance programs and ad hoc repair services that enhance aircraft availability and reliability.

In its Aviation Supply Chain Services segment, AAR sources, stores and distributes parts for both commercial airlines and military operators.

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