Principal Financial Group Inc. Has $73.96 Million Stock Holdings in AAR Corp. $AIR

Principal Financial Group Inc. grew its stake in shares of AAR Corp. (NYSE:AIR) by 4.9% during the 1st quarter, Holdings Channel reports. The firm owned 675,686 shares of the aerospace company’s stock after buying an additional 31,583 shares during the period. Principal Financial Group Inc.’s holdings in AAR were worth $73,961,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AIR. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of AAR in the 1st quarter valued at approximately $25,000. McMillan Office Inc. acquired a new position in AAR during the fourth quarter worth $25,000. Osterweis Capital Management Inc. bought a new stake in AAR during the second quarter worth $26,000. Morse Asset Management Inc bought a new stake in AAR during the third quarter worth $27,000. Finally, NBC Securities Inc. acquired a new stake in AAR in the fourth quarter valued at $28,000. Institutional investors own 90.74% of the company’s stock.

AAR Stock Down 1.7%

Shares of AIR opened at $133.47 on Friday. AAR Corp. has a 52 week low of $71.43 and a 52 week high of $146.75. The firm has a market cap of $5.31 billion, a P/E ratio of 29.59 and a beta of 1.09. The firm’s 50-day simple moving average is $124.11 and its 200 day simple moving average is $114.18. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.23 and a current ratio of 2.70.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AIR. Jefferies Financial Group lifted their price objective on shares of AAR from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday. Weiss Ratings cut shares of AAR from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, July 8th. Truist Financial upgraded shares of AAR to a “strong-buy” rating in a research note on Friday, May 1st. Royal Bank Of Canada lifted their price target on AAR from $105.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. Finally, Zacks Research raised AAR from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target 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.