Principal Financial Group Inc. Sells 83,126 Shares of AAR Corp. (NYSE:AIR)

Principal Financial Group Inc. reduced its position in AAR Corp. (NYSE:AIR) by 16.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 422,226 shares of the aerospace company’s stock after selling 83,126 shares during the quarter. Principal Financial Group Inc. owned about 1.18% of AAR worth $30,696,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. First Eagle Investment Management LLC lifted its position in AAR by 4.3% during the first quarter. First Eagle Investment Management LLC now owns 197,805 shares of the aerospace company’s stock valued at $11,843,000 after purchasing an additional 8,170 shares during the last quarter. Quadrature Capital Ltd raised its holdings in AAR by 77.3% during the 4th quarter. Quadrature Capital Ltd now owns 29,982 shares of the aerospace company’s stock valued at $1,870,000 after buying an additional 13,075 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of AAR in the first quarter valued at about $544,000. Charles Schwab Investment Management Inc. raised its stake in shares of AAR by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 531,786 shares of the aerospace company’s stock valued at $33,183,000 after acquiring an additional 17,465 shares during the last quarter. Finally, Blair William & Co. IL boosted its holdings in shares of AAR by 902.9% during the first quarter. Blair William & Co. IL now owns 57,679 shares of the aerospace company’s stock worth $3,453,000 after purchasing an additional 51,928 shares during the period. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

AAR Stock Up 0.3 %

AIR stock opened at $65.78 on Monday. AAR Corp. has a fifty-two week low of $54.71 and a fifty-two week high of $76.34. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 38.69 and a beta of 1.54. The business’s 50 day moving average price is $66.85 and its two-hundred day moving average price is $66.60. 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 (NYSE:AIR) last announced its quarterly earnings data on Thursday, July 18th. The aerospace company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.86 by $0.02. The business had revenue of $656.50 million during the quarter, compared to analyst estimates of $660.05 million. AAR had a return on equity of 10.16% and a net margin of 2.00%. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 earnings per share. As a group, analysts forecast that AAR Corp. will post 3.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AIR shares. Royal Bank of Canada boosted their price target on AAR from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Stifel Nicolaus decreased their target price on AAR from $86.00 to $85.00 and set a “buy” rating for the company in a report on Friday, July 19th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, 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. It operates through Aviation Services and Expeditionary Services segments. The Aviation Services segment engages in lease and sale of new, overhauled and repaired engine, and airframe parts and components, as well as aircrafts; and offers customized flight hour component inventory and repair, warranty claim management, and outsourcing programs for engine and airframe parts and components.