AAR Corp. (NYSE:AIR) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its stake in shares of AAR Corp. (NYSE:AIR) by 94.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,457 shares of the aerospace company’s stock after selling 257,159 shares during the period. Victory Capital Management Inc.’s holdings in AAR were worth $945,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Amalgamated Bank boosted its stake in AAR by 1.7% in the 3rd quarter. Amalgamated Bank now owns 10,319 shares of the aerospace company’s stock worth $674,000 after buying an additional 177 shares during the last quarter. Global Financial Private Client LLC boosted its stake in AAR by 4.0% in the 2nd quarter. Global Financial Private Client LLC now owns 5,838 shares of the aerospace company’s stock worth $424,000 after buying an additional 225 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in AAR by 43.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 778 shares of the aerospace company’s stock worth $57,000 after buying an additional 234 shares during the last quarter. Truist Financial Corp boosted its stake in AAR by 3.4% in the 2nd quarter. Truist Financial Corp now owns 9,040 shares of the aerospace company’s stock worth $657,000 after buying an additional 296 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in AAR by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the aerospace company’s stock worth $1,214,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on AIR shares. StockNews.com raised AAR from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Benchmark reissued a “buy” rating and issued a $83.00 price target on shares of AAR in a research note on Friday, October 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $75.00 price objective on shares of AAR in a research note on Monday, November 4th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.00.

AAR Stock Performance

NYSE AIR opened at $69.02 on Thursday. The firm has a market capitalization of $2.48 billion, a P/E ratio of 38.03 and a beta of 1.57. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.06 and a quick ratio of 1.45. AAR Corp. has a 1-year low of $54.71 and a 1-year high of $76.34. The business’s 50-day simple moving average is $64.35 and its 200-day simple moving average is $66.50.

AAR (NYSE:AIR) last announced its earnings results on Monday, September 23rd. The aerospace company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. The business had revenue of $661.70 million for the quarter, compared to the consensus estimate of $645.60 million. AAR had a return on equity of 10.22% and a net margin of 2.67%. The company’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the business posted $0.78 EPS. Equities analysts predict that AAR Corp. will post 3.63 EPS for the current year.

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.