The Manufacturers Life Insurance Company Trims Stock Position in AAR Corp. (NYSE:AIR)

The Manufacturers Life Insurance Company trimmed its stake in AAR Corp. (NYSE:AIR) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,285 shares of the aerospace company’s stock after selling 169 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of AAR worth $1,260,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Quest Partners LLC purchased a new position in AAR in the 2nd quarter valued at about $33,000. Innealta Capital LLC purchased a new position in shares of AAR during the second quarter valued at approximately $49,000. EverSource Wealth Advisors LLC grew 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 acquiring an additional 234 shares during the period. KBC Group NV raised its holdings in AAR by 32.9% in the 3rd quarter. KBC Group NV now owns 1,324 shares of the aerospace company’s stock valued at $87,000 after acquiring an additional 328 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of AAR by 348.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,416 shares of the aerospace company’s stock worth $103,000 after purchasing an additional 1,100 shares during the period. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

AAR Stock Up 0.6 %

AIR opened at $67.30 on Thursday. AAR Corp. has a 1 year low of $54.71 and a 1 year high of $76.34. The firm has a 50 day moving average price of $64.76 and a 200 day moving average price of $66.29. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.45 and a current ratio of 3.06. The company has a market cap of $2.42 billion, a PE ratio of 36.98 and a beta of 1.59.

AAR (NYSE:AIR) last issued its earnings results 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 net margin of 2.67% and a return on equity of 10.22%. The business had revenue of $661.70 million for the quarter, compared to the consensus estimate of $645.60 million. During the same quarter last year, the firm posted $0.78 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. Sell-side analysts expect that AAR Corp. will post 3.63 earnings per share for the current 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.