AAR Corp. (AIR) Shares Sold by State of Tennessee Treasury Department
State of Tennessee Treasury Department trimmed its holdings in AAR Corp. (NYSE:AIR) by 9.8% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 25,315 shares of the aerospace company’s stock after selling 2,756 shares during the quarter. State of Tennessee Treasury Department’s holdings in AAR were worth $995,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Macquarie Group Ltd. bought a new stake in AAR in the 3rd quarter worth about $144,000. Highbridge Capital Management LLC bought a new stake in AAR in the 3rd quarter worth about $200,000. Group One Trading L.P. bought a new stake in AAR in the 3rd quarter worth about $233,000. Victory Capital Management Inc. increased its holdings in AAR by 52.3% in the 3rd quarter. Victory Capital Management Inc. now owns 6,493 shares of the aerospace company’s stock worth $245,000 after buying an additional 2,231 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in AAR in the 3rd quarter worth about $356,000. Institutional investors own 89.38% of the company’s stock.
Several equities research analysts recently commented on AIR shares. Seaport Global Securities upgraded AAR from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $39.00 to $50.00 in a report on Tuesday, January 16th. Noble Financial reiterated a “buy” rating on shares of AAR in a report on Friday, December 22nd. Canaccord Genuity upgraded AAR from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $42.00 to $46.00 in a report on Thursday, February 8th. ValuEngine upgraded AAR from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. Finally, TheStreet downgraded AAR from a “b” rating to a “c+” rating in a report on Thursday, December 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. AAR presently has an average rating of “Buy” and an average target price of $46.80.
Shares of AAR Corp. (AIR) opened at $44.39 on Wednesday. The stock has a market capitalization of $1,558.65, a PE ratio of 30.32 and a beta of 1.26. AAR Corp. has a 52 week low of $31.97 and a 52 week high of $45.60. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.23 and a current ratio of 2.65.
AAR (NYSE:AIR) last released its quarterly earnings results on Thursday, December 21st. The aerospace company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). The firm had revenue of $449.70 million for the quarter, compared to the consensus estimate of $450.56 million. AAR had a net margin of 1.25% and a return on equity of 5.61%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 earnings per share. equities research analysts anticipate that AAR Corp. will post 1.86 earnings per share for the current year.
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AAR CORP. (AAR) is a provider of services and products to the commercial aviation and government and defense markets. The Company operates in two segments: Aviation Services, which consists of supply chain and maintenance, repair and overhaul (MRO) activities, and Expeditionary Services, which includes airlift and mobility activities.
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