JPMorgan Chase & Co. trimmed its stake in AAR Corp. (NYSE:AIR) by 22.5% in the third quarter, HoldingsChannel.com reports. The firm owned 135,611 shares of the aerospace company’s stock after selling 39,390 shares during the quarter. JPMorgan Chase & Co.’s holdings in AAR were worth $6,495,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new stake in AAR in the second quarter valued at approximately $154,000. BlueMountain Capital Management LLC purchased a new stake in AAR in the second quarter valued at approximately $159,000. CIBC Asset Management Inc purchased a new stake in AAR in the third quarter valued at approximately $204,000. Keybank National Association OH purchased a new stake in AAR in the second quarter valued at approximately $208,000. Finally, Private Advisor Group LLC purchased a new stake in AAR in the second quarter valued at approximately $263,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

AIR opened at $40.69 on Friday. The company has a quick ratio of 1.63, a current ratio of 3.12 and a debt-to-equity ratio of 0.23. AAR Corp. has a 52-week low of $36.46 and a 52-week high of $51.52. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 21.19 and a beta of 1.04.

AAR (NYSE:AIR) last released its quarterly earnings data on Tuesday, September 25th. The aerospace company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. AAR had a net margin of 1.08% and a return on equity of 7.27%. The company had revenue of $466.30 million during the quarter, compared to the consensus estimate of $452.72 million. During the same period in the previous year, the firm earned $0.31 earnings per share. AAR’s revenue for the quarter was up 17.2% on a year-over-year basis. On average, research analysts predict that AAR Corp. will post 2.69 earnings per share for the current fiscal year.

In other AAR news, Director David P. Storch sold 22,570 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $44.05, for a total transaction of $994,208.50. Following the completion of the sale, the director now directly owns 587,852 shares in the company, valued at $25,894,880.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronald B. Woodard sold 10,239 shares of the business’s stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $46.64, for a total transaction of $477,546.96. Following the sale, the director now owns 12,482 shares of the company’s stock, valued at $582,160.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,609 shares of company stock valued at $2,354,979. 7.43% of the stock is owned by insiders.

AIR has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of AAR from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Tuesday, September 11th. Canaccord Genuity boosted their target price on shares of AAR from $52.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, September 26th. Credit Suisse Group boosted their target price on shares of AAR from $51.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, September 28th. Noble Financial restated a “buy” rating and issued a $57.00 target price on shares of AAR in a report on Thursday, September 27th. Finally, SunTrust Banks downgraded shares of AAR from a “buy” rating to a “hold” rating and lowered their target price for the company from $50.00 to $47.00 in a report on Tuesday, September 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $53.17.

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About AAR

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The company operates in two segments, Aviation Services and Expeditionary Services. The Aviation Services segment offers aftermarket support and services; inventory management and distribution services; and maintenance, repair, and overhaul, as well as engineering services.

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Institutional Ownership by Quarter for AAR (NYSE:AIR)

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