Teachers Retirement System of The State of Kentucky Sells 20,047 Shares of AAR Corp. $AIR

Key Points

• Teachers Retirement System of Kentucky cut its AAR Corp. stake by 67.9% in the first quarter, selling 20,047 shares and leaving it with 9,474 shares valued at about $1.04 million.
• AAR stock was up 1.0% to $135.86, near its 52-week high of $146.75, with a market cap of $5.4 billion and a P/E ratio of 30.13.
• Analyst sentiment remains positive overall: the stock has a consensus Buy rating and an average target price of $132.20, though recent ratings have been mixed with some upgrades and downgrades.

Teachers Retirement System of The State of Kentucky lowered its holdings in shares of AAR Corp. (NYSE:AIR - Free Report) by 67.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,474 shares of the aerospace company's stock after selling 20,047 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in AAR were worth $1,037,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. McMillan Office Inc. purchased a new stake in AAR during the 4th quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of AAR in the first quarter worth $25,000. Osterweis Capital Management Inc. purchased a new position in shares of AAR in the second quarter worth $26,000. Morse Asset Management Inc bought a new position in shares of AAR during the third quarter worth $27,000. Finally, NBC Securities Inc. bought a new position in shares of AAR during the fourth quarter worth $28,000. 90.74% of the stock is owned by hedge funds and other institutional investors.

AAR Trading Up 1.0%

AIR stock opened at $135.86 on Thursday. The firm has a fifty day moving average price of $123.79 and a 200 day moving average price of $113.84. AAR Corp. has a fifty-two week low of $71.43 and a fifty-two week high of $146.75. The firm has a market cap of $5.40 billion, a PE ratio of 30.13 and a beta of 1.09. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.23 and a current ratio of 2.70.

Analysts Set New Price Targets

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

AAR Company Profile

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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