AAR Corp. $AIR Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC cut its holdings in shares of AAR Corp. (NYSE:AIR) by 33.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 87,988 shares of the aerospace company’s stock after selling 44,356 shares during the quarter. Peregrine Capital Management LLC owned 0.22% of AAR worth $9,631,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AIR. Vanguard Group Inc. increased its stake in shares of AAR by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company’s stock worth $336,229,000 after acquiring an additional 281,871 shares during the period. State Street Corp raised its holdings in shares of AAR by 17.1% during the fourth quarter. State Street Corp now owns 2,320,927 shares of the aerospace company’s stock worth $192,150,000 after purchasing an additional 339,595 shares during the last quarter. Wellington Management Group LLP lifted its position in AAR by 17.4% during the fourth quarter. Wellington Management Group LLP now owns 1,745,352 shares of the aerospace company’s stock valued at $144,498,000 after purchasing an additional 258,577 shares during the period. Franklin Resources Inc. lifted its position in AAR by 36.9% during the third quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company’s stock valued at $107,752,000 after purchasing an additional 311,258 shares during the period. Finally, Invesco Ltd. boosted its holdings in AAR by 7.7% in the fourth quarter. Invesco Ltd. now owns 1,122,792 shares of the aerospace company’s stock valued at $92,956,000 after purchasing an additional 80,265 shares during the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AIR shares. Zacks Research downgraded AAR from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Royal Bank Of Canada boosted their price objective on AAR from $105.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, March 25th. KeyCorp lowered AAR from an “overweight” rating to a “sector weight” rating in a report on Tuesday. Jefferies Financial Group lifted their price target on AAR to $150.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Finally, Truist Financial raised AAR to a “strong-buy” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, AAR currently has an average rating of “Moderate Buy” and an average price target of $131.20.

AAR Stock Up 0.9%

AIR stock opened at $143.09 on Wednesday. AAR Corp. has a one year low of $68.30 and a one year high of $143.46. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.23 and a current ratio of 2.70. The firm’s fifty day moving average is $118.33 and its 200 day moving average is $109.70. The firm has a market cap of $5.69 billion, a PE ratio of 31.73 and a beta of 1.13.

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.