Northern Trust Corp cut its stake in AAR Corp. (NYSE:AIR - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 398,244 shares of the aerospace company's stock after selling 6,752 shares during the quarter. Northern Trust Corp owned about 1.11% of AAR worth $24,404,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC grew its position in shares of AAR by 761.2% in the fourth quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company's stock valued at $54,000 after purchasing an additional 784 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of AAR by 124.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the aerospace company's stock valued at $62,000 after purchasing an additional 561 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of AAR in the fourth quarter valued at $80,000. Venturi Wealth Management LLC grew its position in shares of AAR by 1,965.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,322 shares of the aerospace company's stock valued at $81,000 after purchasing an additional 1,258 shares in the last quarter. Finally, Toth Financial Advisory Corp grew its position in shares of AAR by 133.3% in the fourth quarter. Toth Financial Advisory Corp now owns 1,400 shares of the aerospace company's stock valued at $86,000 after purchasing an additional 800 shares in the last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have weighed in on AIR shares. KeyCorp lowered their price target on AAR from $83.00 to $80.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. StockNews.com upgraded AAR from a "sell" rating to a "hold" rating in a research report on Saturday, April 19th. Finally, Truist Financial lowered their target price on AAR from $81.00 to $78.00 and set a "buy" rating for the company in a research note on Friday, March 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.20.
Read Our Latest Report on AIR
AAR Stock Up 0.7%
Shares of AAR stock traded up $0.46 on Friday, reaching $62.62. The company's stock had a trading volume of 198,423 shares, compared to its average volume of 275,821. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 223.67 and a beta of 1.40. The firm's fifty day simple moving average is $58.19 and its two-hundred day simple moving average is $63.14. AAR Corp. has a 52 week low of $46.51 and a 52 week high of $76.34. The company has a quick ratio of 1.27, a current ratio of 2.68 and a debt-to-equity ratio of 0.84.
AAR (NYSE:AIR - Get Free Report) last issued its quarterly earnings data on Thursday, March 27th. The aerospace company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.96 by $0.03. AAR had a return on equity of 10.46% and a net margin of 0.41%. The company had revenue of $678.20 million during the quarter, compared to analyst estimates of $699.13 million. During the same quarter in the previous year, the company posted $0.85 earnings per share. AAR's revenue was up 19.5% compared to the same quarter last year. Equities analysts anticipate that AAR Corp. will post 3.77 earnings per share for the current year.
AAR Profile
(
Free Report)
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.
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