Intech Investment Management LLC Cuts Position in AAR Corp. $AIR

Intech Investment Management LLC decreased its position in AAR Corp. (NYSE:AIR) by 49.0% during the second quarter, HoldingsChannel.com reports. The fund owned 26,874 shares of the aerospace company’s stock after selling 25,777 shares during the quarter. Intech Investment Management LLC’s holdings in AAR were worth $1,849,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Westwood Holdings Group Inc. grew its holdings in shares of AAR by 10.3% in the first quarter. Westwood Holdings Group Inc. now owns 1,589,320 shares of the aerospace company’s stock valued at $88,986,000 after purchasing an additional 148,166 shares in the last quarter. Fred Alger Management LLC lifted its position in AAR by 32.6% during the first quarter. Fred Alger Management LLC now owns 533,770 shares of the aerospace company’s stock valued at $29,886,000 after purchasing an additional 131,092 shares during the last quarter. Nuveen LLC purchased a new position in shares of AAR in the 1st quarter worth $6,226,000. Invesco Ltd. grew its stake in shares of AAR by 8.4% in the 1st quarter. Invesco Ltd. now owns 1,160,420 shares of the aerospace company’s stock worth $64,972,000 after buying an additional 89,802 shares in the last quarter. Finally, Algert Global LLC increased its holdings in shares of AAR by 100.7% in the 1st quarter. Algert Global LLC now owns 123,170 shares of the aerospace company’s stock worth $6,896,000 after buying an additional 61,794 shares during the last quarter. 90.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AIR has been the subject of a number of analyst reports. Zacks Research downgraded shares of AAR from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of AAR in a research report on Thursday, November 13th. KeyCorp lifted their target price on AAR from $86.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Truist Financial boosted their target price on AAR from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $85.00 price target on shares of AAR in a report on Wednesday, September 24th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.33.

Insider Buying and Selling at AAR

In other news, CEO John Mcclain Holmes III sold 38,462 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $83.50, for a total transaction of $3,211,577.00. Following the completion of the sale, the chief executive officer directly owned 260,141 shares of the company’s stock, valued at approximately $21,721,773.50. The trade was a 12.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.60% of the company’s stock.

AAR Trading Up 0.3%

AIR opened at $77.56 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.31 and a current ratio of 2.91. The stock’s 50 day moving average price is $81.97 and its 200-day moving average price is $74.51. AAR Corp. has a one year low of $46.51 and a one year high of $89.69. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 99.44 and a beta of 1.53.

AAR (NYSE:AIR) last issued its quarterly earnings results on Wednesday, May 28th. The aerospace company reported $0.83 earnings per share (EPS) for the quarter. The firm had revenue of $553.30 million during the quarter. AAR had a return on equity of 12.29% and a net margin of 1.01%. On average, equities analysts forecast that AAR Corp. will post 3.77 EPS for the current year.

About AAR

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.