Bank of New York Mellon Corp Sells 8,430 Shares of AAR Corp. $AIR

Bank of New York Mellon Corp cut its stake in shares of AAR Corp. (NYSE:AIR) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 271,166 shares of the aerospace company’s stock after selling 8,430 shares during the period. Bank of New York Mellon Corp owned approximately 0.68% of AAR worth $29,682,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of AAR in the first quarter worth about $25,000. McMillan Office Inc. bought a new position in shares of AAR during the 4th quarter valued at about $25,000. Osterweis Capital Management Inc. bought a new position in shares of AAR during the 2nd quarter valued at about $26,000. Morse Asset Management Inc acquired a new position in shares of AAR in the 3rd quarter valued at approximately $27,000. Finally, NBC Securities Inc. bought a new stake in shares of AAR during the fourth quarter worth $28,000. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Trading Down 0.1%

Shares of NYSE:AIR opened at $128.86 on Monday. The company has a market capitalization of $5.14 billion, a P/E ratio of 26.68 and a beta of 1.09. AAR Corp. has a 1 year low of $71.43 and a 1 year high of $146.75. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.84 and a quick ratio of 1.24. The business’s 50 day simple moving average is $126.74 and its 200 day simple moving average is $116.24.

AAR (NYSE:AIR) last posted its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.15. The firm had revenue of $928.00 million for the quarter, compared to analyst estimates of $893.03 million. AAR had a return on equity of 12.67% and a net margin of 5.67%.The company’s revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the company earned $1.16 EPS. On average, research analysts anticipate that AAR Corp. will post 5.91 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on AIR shares. Weiss Ratings raised AAR from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. Wall Street Zen downgraded AAR from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 14th. KeyCorp reissued a “sector weight” rating on shares of AAR in a report on Wednesday. Truist Financial raised shares of AAR to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Zacks Research upgraded shares of AAR from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AAR has an average rating of “Buy” and an average target price of $132.20.

AAR Company Profile

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.