State of New Jersey Common Pension Fund D Trims Stock Position in AAR Corp. (NYSE:AIR)

State of New Jersey Common Pension Fund D cut its position in AAR Corp. (NYSE:AIR) by 36.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,830 shares of the aerospace company’s stock after selling 15,652 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.08% of AAR worth $1,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in AAR by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,761,632 shares of the aerospace company’s stock valued at $234,726,000 after buying an additional 44,948 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of AAR by 41.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 551,439 shares of the aerospace company’s stock valued at $40,090,000 after acquiring an additional 160,363 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of AAR by 13.8% during the first quarter. Janus Henderson Group PLC now owns 530,682 shares of the aerospace company’s stock worth $31,772,000 after purchasing an additional 64,274 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of AAR by 2.3% in the first quarter. Principal Financial Group Inc. now owns 505,352 shares of the aerospace company’s stock worth $30,255,000 after purchasing an additional 11,350 shares during the last quarter. Finally, Emerald Advisers LLC raised its stake in AAR by 21.0% in the second quarter. Emerald Advisers LLC now owns 485,007 shares of the aerospace company’s stock valued at $35,260,000 after purchasing an additional 84,056 shares in the last quarter. 90.74% of the stock is owned by institutional investors.

AAR Price Performance

Shares of AAR stock opened at $69.28 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.41 and a current ratio of 2.98. AAR Corp. has a 52-week low of $54.71 and a 52-week high of $76.34. The company has a fifty day moving average of $65.15 and a 200-day moving average of $66.59. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 40.75 and a beta of 1.55.

AAR (NYSE:AIR) last posted its quarterly earnings results on Thursday, July 18th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.02. AAR had a net margin of 2.00% and a return on equity of 10.16%. The business had revenue of $656.50 million during the quarter, compared to analyst estimates of $660.05 million. During the same period in the prior year, the business posted $0.83 earnings per share. The company’s revenue was up 18.7% on a year-over-year basis. Equities research analysts expect that AAR Corp. will post 3.74 EPS for the current year.

Wall Street Analysts Forecast Growth

AIR has been the subject of a number of research reports. Stifel Nicolaus cut their price target on shares of AAR from $86.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, July 19th. Royal Bank of Canada increased their target price on AAR from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Finally, StockNews.com downgraded AAR from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, AAR presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.50.

AAR Company Profile

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.