Public Employees Retirement System of Ohio Trims Stock Position in AAR Corp. $AIR

Public Employees Retirement System of Ohio cut its stake in AAR Corp. (NYSE:AIR) by 20.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,329 shares of the aerospace company’s stock after selling 6,624 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in AAR were worth $2,773,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AIR. Lido Advisors LLC boosted its stake in shares of AAR by 2.8% during the 4th quarter. Lido Advisors LLC now owns 3,618 shares of the aerospace company’s stock valued at $318,000 after purchasing an additional 98 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in AAR by 12.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,162 shares of the aerospace company’s stock worth $97,000 after buying an additional 126 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in AAR by 1.7% in the first quarter. PNC Financial Services Group Inc. now owns 8,073 shares of the aerospace company’s stock worth $884,000 after buying an additional 132 shares in the last quarter. CWM LLC lifted its holdings in AAR by 19.3% in the fourth quarter. CWM LLC now owns 950 shares of the aerospace company’s stock worth $79,000 after buying an additional 154 shares during the period. Finally, Assetmark Inc. lifted its holdings in AAR by 10.7% in the first quarter. Assetmark Inc. now owns 1,606 shares of the aerospace company’s stock worth $176,000 after buying an additional 155 shares during the period. 90.74% of the stock is owned by hedge funds and other institutional investors.

AAR Trading Up 0.4%

Shares of NYSE AIR opened at $140.00 on Friday. AAR Corp. has a 1 year low of $71.43 and a 1 year high of $146.75. The stock has a market cap of $5.58 billion, a P/E ratio of 28.98 and a beta of 1.09. The firm has a 50-day moving average of $130.00 and a 200 day moving average of $117.66. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.84 and a quick ratio of 1.24.

AAR (NYSE:AIR) last posted its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.38 by $0.15. The business had revenue of $928.00 million for the quarter, compared to analyst estimates of $893.03 million. AAR had a net margin of 5.67% and a return on equity of 12.67%. AAR’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 earnings per share. As a group, sell-side analysts expect that AAR Corp. will post 5.92 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on AIR. Jefferies Financial Group lifted their price objective on AAR from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Zacks Research raised AAR from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Wall Street Zen cut AAR from a “buy” rating to a “hold” rating in a research note on Saturday. Truist Financial lifted their price target on AAR from $128.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of AAR in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $135.60.

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.