AAR Corp. $AIR Stake Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in shares of AAR Corp. (NYSE:AIR) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 270,901 shares of the aerospace company’s stock after selling 1,672 shares during the quarter. Bank of New York Mellon Corp owned about 0.76% of AAR worth $18,635,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in AIR. Virtus Advisers LLC bought a new position in AAR during the 1st quarter worth $47,000. State of Wyoming boosted its holdings in shares of AAR by 128.5% during the first quarter. State of Wyoming now owns 1,821 shares of the aerospace company’s stock valued at $102,000 after acquiring an additional 1,024 shares during the period. Vontobel Holding Ltd. bought a new position in shares of AAR during the second quarter worth about $202,000. EntryPoint Capital LLC acquired a new stake in shares of AAR in the 1st quarter worth about $205,000. Finally, Meyer Handelman Co. bought a new stake in AAR in the 2nd quarter valued at about $206,000. Institutional investors own 90.74% of the company’s stock.

AAR Stock Up 1.9%

NYSE AIR opened at $81.60 on Monday. AAR Corp. has a 12 month low of $46.51 and a 12 month high of $89.69. The company has a market capitalization of $3.19 billion, a P/E ratio of 104.62 and a beta of 1.53. The company’s 50 day simple moving average is $81.61 and its 200 day simple moving average is $74.00. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.91 and a quick ratio of 1.31.

AAR (NYSE:AIR) last announced its quarterly earnings data on Wednesday, May 28th. The aerospace company reported $0.83 EPS for the quarter. The company had revenue of $553.30 million during the quarter. AAR had a return on equity of 12.29% and a net margin of 1.01%. Equities research analysts expect that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Insider Buying and Selling at AAR

In related news, CEO John Mcclain Holmes III sold 38,462 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $83.50, for a total value of $3,211,577.00. Following the completion of the transaction, the chief executive officer owned 260,141 shares in the company, valued at $21,721,773.50. This trade represents a 12.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on AIR shares. Royal Bank Of Canada restated an “outperform” rating and issued a $85.00 target price on shares of AAR in a research report on Wednesday, September 24th. Truist Financial increased their price objective on AAR from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. KeyCorp lifted their target price on AAR from $86.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. Wall Street Zen upgraded AAR from a “hold” rating to a “buy” rating in a research report on Sunday, November 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of AAR in a research note on Thursday. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AAR presently has an average rating of “Moderate Buy” and an average price target of $89.33.

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.