State of New Jersey Common Pension Fund D Makes New $1.89 Million Investment in AAR Corp. (NYSE:AIR)

State of New Jersey Common Pension Fund D purchased a new position in shares of AAR Corp. (NYSE:AIR – Get Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 52,623 shares of the aerospace company’s stock, valued at approximately $1,885,000. State of New Jersey Common Pension Fund D owned approximately 0.15% of AAR as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new position in AAR during the first quarter worth $26,000. Point72 Hong Kong Ltd purchased a new position in AAR during the first quarter worth $44,000. Ellevest Inc. purchased a new stake in shares of AAR in the second quarter valued at $48,000. First Bank & Trust grew its position in shares of AAR by 22.3% in the second quarter. First Bank & Trust now owns 2,871 shares of the aerospace company’s stock valued at $121,000 after purchasing an additional 523 shares during the period. Finally, Captrust Financial Advisors grew its position in shares of AAR by 11.3% in the second quarter. Captrust Financial Advisors now owns 3,625 shares of the aerospace company’s stock valued at $152,000 after purchasing an additional 369 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AIR shares. TheStreet raised AAR from a “c+” rating to a “b-” rating in a research report on Thursday, November 10th. Truist Financial lifted their price objective on AAR from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, January 9th. Royal Bank of Canada lowered their price objective on AAR from $54.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, September 23rd. Finally, StockNews.com downgraded AAR from a “buy” rating to a “hold” rating in a research report on Wednesday, December 21st.

Insider Activity at AAR

In related news, Director Anthony Anderson sold 14,000 shares of AAR stock in a transaction on Friday, November 4th. The stock was sold at an average price of $42.74, for a total value of $598,360.00. Following the transaction, the director now owns 10,334 shares in the company, valued at $441,675.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other AAR news, Director Anthony Anderson sold 14,000 shares of the business’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $42.74, for a total transaction of $598,360.00. Following the transaction, the director now owns 10,334 shares in the company, valued at $441,675.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director H John Gilbertson, Jr. sold 9,894 shares of the business’s stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $43.38, for a total value of $429,201.72. Following the transaction, the director now owns 2,574 shares in the company, valued at approximately $111,660.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,692 shares of company stock worth $6,643,584. 7.74% of the stock is owned by insiders.

AAR Price Performance

Shares of AAR stock opened at $48.20 on Friday. AAR Corp. has a twelve month low of $33.75 and a twelve month high of $52.83. The stock has a market capitalization of $1.66 billion, a P/E ratio of 18.83 and a beta of 1.54. The company has a current ratio of 3.28, a quick ratio of 1.44 and a debt-to-equity ratio of 0.19. The business’s fifty day moving average price is $45.89 and its 200 day moving average price is $43.53.

AAR (NYSE:AIR – Get Rating) last issued its earnings results on Tuesday, December 20th. The aerospace company reported $0.69 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.69. AAR had a return on equity of 9.19% and a net margin of 4.97%. The firm had revenue of $469.80 million for the quarter, compared to analysts’ expectations of $458.91 million. As a group, research analysts anticipate that AAR Corp. will post 3.03 earnings per share for the current year.

AAR Company Profile

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AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Aviation Services segment offers aftermarket support and services; inventory management and distribution services; and maintenance, repair, and overhaul, as well as engineering services. This segment also sells and leases new, overhauled, and repaired engine and airframe parts, and components; and provides inventory and repair programs, warranty claim management, and outsourcing programs for engine and airframe parts and components, as well as performance-based supply chain logistics programs in support of the U.S.