Rhumbline Advisers Cuts Stock Position in AAR Corp. (NYSE:AIR)

Rhumbline Advisers lowered its stake in AAR Corp. (NYSE:AIR - Free Report) by 3.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 112,058 shares of the aerospace company's stock after selling 3,809 shares during the period. Rhumbline Advisers owned approximately 0.31% of AAR worth $6,274,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in 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 acquiring an additional 19,863 shares during the period. Vanguard Group Inc. boosted its holdings in shares of AAR by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 3,840,885 shares of the aerospace company's stock valued at $235,369,000 after acquiring an additional 58,694 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of AAR during the 4th quarter valued at $6,849,000. First Trust Advisors LP increased its stake in shares of AAR by 60.3% in the fourth quarter. First Trust Advisors LP now owns 26,173 shares of the aerospace company's stock valued at $1,604,000 after buying an additional 9,846 shares during the period. Finally, Invesco Ltd. raised its holdings in AAR by 13.5% during 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 last quarter. Institutional investors and hedge funds own 90.74% of the company's stock.

AAR Stock Down 0.4%

Shares of NYSE:AIR traded down $0.28 during mid-day trading on Friday, hitting $68.49. 271,814 shares of the company traded hands, compared to its average volume of 278,331. The stock has a market cap of $2.47 billion, a P/E ratio of 244.62 and a beta of 1.43. The company has a current ratio of 2.68, a quick ratio of 1.27 and a debt-to-equity ratio of 0.84. AAR Corp. has a 12-month low of $46.51 and a 12-month high of $76.34. The stock has a 50-day moving average price of $58.86 and a two-hundred day moving average price of $62.86.

AAR (NYSE:AIR - Get Free Report) last announced its earnings results 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. The company had revenue of $678.20 million for the quarter, compared to analysts' expectations of $699.13 million. AAR had a return on equity of 10.46% and a net margin of 0.41%. AAR's quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 earnings per share. On average, equities research analysts forecast that AAR Corp. will post 3.77 earnings per share for the current year.

Analysts Set New Price Targets

AIR has been the topic of several research analyst reports. Truist Financial cut their target price on AAR from $81.00 to $78.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Wall Street Zen upgraded AAR from a "sell" rating to a "hold" rating in a report on Saturday, April 19th. Finally, KeyCorp decreased their price objective on AAR from $83.00 to $80.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $80.20.

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.