Gabelli Funds LLC Sells 800 Shares of AAR Corp. (NYSE:AIR)

Gabelli Funds LLC cut its position in AAR Corp. (NYSE:AIR) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,140 shares of the aerospace company’s stock after selling 800 shares during the quarter. Gabelli Funds LLC owned 0.13% of AAR worth $3,354,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Comerica Bank raised its position in AAR by 0.9% in the fourth quarter. Comerica Bank now owns 17,601 shares of the aerospace company’s stock valued at $1,098,000 after purchasing an additional 152 shares during the last quarter. Global Financial Private Client LLC raised its position in AAR by 4.0% in the second quarter. Global Financial Private Client LLC now owns 5,838 shares of the aerospace company’s stock valued at $424,000 after purchasing an additional 225 shares during the last quarter. Louisiana State Employees Retirement System raised its position in AAR by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the aerospace company’s stock valued at $1,214,000 after purchasing an additional 300 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in AAR by 283.1% in the first quarter. EverSource Wealth Advisors LLC now owns 544 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 402 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in AAR by 40.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,488 shares of the aerospace company’s stock valued at $108,000 after purchasing an additional 428 shares during the last quarter. 90.74% of the stock is currently owned by institutional investors.

AAR Trading Down 4.5 %

NYSE AIR opened at $65.99 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.98 and a quick ratio of 1.41. AAR Corp. has a one year low of $54.71 and a one year high of $76.34. The business has a 50 day simple moving average of $64.86 and a 200 day simple moving average of $66.63. The stock has a market capitalization of $2.34 billion, a P/E ratio of 38.82 and a beta of 1.55.

AAR (NYSE:AIR) last announced its quarterly earnings data on Monday, September 23rd. The aerospace company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. AAR had a return on equity of 10.16% and a net margin of 2.00%. The firm had revenue of $661.70 million during the quarter, compared to analysts’ expectations of $645.60 million. During the same quarter last year, the firm posted $0.78 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. Research analysts expect that AAR Corp. will post 3.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AIR. Royal Bank of Canada restated an “outperform” rating and set a $85.00 price objective on shares of AAR in a research report on Tuesday. Benchmark restated a “buy” rating and set a $83.00 price objective on shares of AAR in a research report on Tuesday. Stifel Nicolaus decreased their target price on AAR from $86.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, July 19th. Finally, StockNews.com cut AAR from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $83.50.

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.