Thrivent Financial for Lutherans Sells 42,804 Shares of AAR Corp. $AIR

Thrivent Financial for Lutherans reduced its stake in AAR Corp. (NYSE:AIR) by 41.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,639 shares of the aerospace company’s stock after selling 42,804 shares during the quarter. Thrivent Financial for Lutherans owned about 0.17% of AAR worth $4,240,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. State Street Corp grew its position in shares of AAR by 10.9% in the second quarter. State Street Corp now owns 1,917,821 shares of the aerospace company’s stock valued at $131,927,000 after purchasing an additional 188,406 shares during the last quarter. Fred Alger Management LLC lifted its holdings in AAR by 32.6% during the 1st quarter. Fred Alger Management LLC now owns 533,770 shares of the aerospace company’s stock worth $29,886,000 after purchasing an additional 131,092 shares during the last quarter. Nuveen LLC bought a new stake in AAR in the 1st quarter valued at $6,226,000. Marsico Capital Management LLC acquired a new position in AAR in the 2nd quarter valued at $4,801,000. Finally, PDT Partners LLC grew its holdings in AAR by 758.4% in the 2nd quarter. PDT Partners LLC now owns 66,094 shares of the aerospace company’s stock valued at $4,547,000 after buying an additional 58,394 shares in the last quarter. Institutional investors own 90.74% of the company’s stock.

AAR Trading Up 1.0%

AIR opened at $82.72 on Friday. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 106.05 and a beta of 1.29. The company has a quick ratio of 1.31, a current ratio of 2.91 and a debt-to-equity ratio of 0.82. AAR Corp. has a twelve month low of $46.51 and a twelve month high of $89.69. The company has a 50-day simple moving average of $82.49 and a 200 day simple moving average of $77.55.

AAR (NYSE:AIR) last issued its earnings results on Wednesday, May 28th. The aerospace company reported $0.83 EPS for the quarter. AAR had a net margin of 1.01% and a return on equity of 12.29%. The company had revenue of $553.30 million during the quarter. Analysts predict that AAR Corp. will post 3.77 EPS for the current fiscal year.

Insider Buying and Selling

In other AAR news, CEO John Mcclain Holmes III sold 38,462 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $83.50, for a total transaction of $3,211,577.00. Following the completion of the sale, the chief executive officer directly owned 260,141 shares in the company, valued at $21,721,773.50. This represents a 12.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AIR shares. Wall Street Zen downgraded AAR from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of AAR in a research note on Monday, December 15th. Zacks Research downgraded shares of AAR from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 29th. Truist Financial increased their target price on shares of AAR from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, Royal Bank Of Canada raised their target price on shares of AAR from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, November 26th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

About AAR

AAR Corp. (NYSE: AIR) is a global provider of aviation products and services to commercial, government and defense customers. The company offers a comprehensive portfolio of maintenance, repair and overhaul (MRO) solutions, component repair and overhaul, and engineering services designed to support a wide variety of fixed-wing and rotary aircraft. Leveraging FAA and EASA certifications, AAR delivers turnkey maintenance programs and ad hoc repair services that enhance aircraft availability and reliability.

In its Aviation Supply Chain Services segment, AAR sources, stores and distributes parts for both commercial airlines and military operators.