AAR Corp. (NYSE:AIR) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its stake in shares of AAR Corp. (NYSE:AIR) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,659 shares of the aerospace company’s stock after selling 3,200 shares during the period. New York State Teachers Retirement System owned about 0.15% of AAR worth $3,411,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Franklin Resources Inc. lifted its position in shares of AAR by 13.4% during the 3rd quarter. Franklin Resources Inc. now owns 969,741 shares of the aerospace company’s stock valued at $59,591,000 after acquiring an additional 114,460 shares during the period. Geode Capital Management LLC lifted its position in shares of AAR by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 796,962 shares of the aerospace company’s stock valued at $52,101,000 after acquiring an additional 27,747 shares during the period. Loomis Sayles & Co. L P lifted its position in shares of AAR by 20.5% during the 3rd quarter. Loomis Sayles & Co. L P now owns 790,267 shares of the aerospace company’s stock valued at $51,652,000 after acquiring an additional 134,215 shares during the period. Principal Financial Group Inc. lifted its position in shares of AAR by 18.5% during the 3rd quarter. Principal Financial Group Inc. now owns 500,200 shares of the aerospace company’s stock valued at $32,693,000 after acquiring an additional 77,974 shares during the period. Finally, Emerald Advisers LLC lifted its position in shares of AAR by 1.3% during the 3rd quarter. Emerald Advisers LLC now owns 491,406 shares of the aerospace company’s stock valued at $32,118,000 after acquiring an additional 6,399 shares during the period. 90.74% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Sean M. Gillen sold 17,385 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $66.33, for a total transaction of $1,153,147.05. Following the completion of the sale, the chief financial officer now directly owns 72,326 shares of the company’s stock, valued at $4,797,383.58. The trade was a 19.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John Mcclain Holmes III sold 5,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $70.81, for a total transaction of $354,050.00. Following the sale, the chief executive officer now directly owns 341,680 shares of the company’s stock, valued at $24,194,360.80. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 185,793 shares of company stock valued at $12,538,396. Company insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

AIR has been the subject of a number of research reports. KeyCorp initiated coverage on shares of AAR in a research report on Thursday, January 16th. They set an “overweight” rating and a $83.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and set a $75.00 price objective on shares of AAR in a research report on Monday, November 4th. Finally, StockNews.com downgraded AAR from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AAR has an average rating of “Moderate Buy” and an average target price of $81.50.

AAR Trading Down 3.5 %

Shares of AAR stock opened at $61.84 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.68 and a quick ratio of 1.27. AAR Corp. has a 1 year low of $54.71 and a 1 year high of $76.34. The company has a market capitalization of $2.22 billion, a P/E ratio of 220.85 and a beta of 1.61. The business has a 50 day moving average price of $65.73 and a 200 day moving average price of $65.02.

AAR (NYSE:AIR) last released its earnings results on Tuesday, January 7th. The aerospace company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.83 by $0.07. The firm had revenue of $686.10 million during the quarter, compared to analysts’ expectations of $654.47 million. AAR had a net margin of 0.41% and a return on equity of 10.46%. AAR’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.81 EPS. Sell-side analysts anticipate that AAR Corp. will post 3.77 EPS for the current fiscal year.

AAR 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.