Citigroup Inc. raised its stake in AAR Corp. (NYSE:AIR - Free Report) by 12.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,869 shares of the aerospace company's stock after purchasing an additional 8,113 shares during the quarter. Citigroup Inc. owned about 0.20% of AAR worth $4,697,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. Earnest Partners LLC boosted its holdings in AAR by 3.2% in the second quarter. Earnest Partners LLC now owns 1,588,893 shares of the aerospace company's stock valued at $115,513,000 after acquiring an additional 48,630 shares during the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of AAR in the 2nd quarter valued at about $77,754,000. American Century Companies Inc. grew its holdings in shares of AAR by 1,956.5% during the 2nd quarter. American Century Companies Inc. now owns 909,953 shares of the aerospace company's stock worth $66,154,000 after purchasing an additional 865,705 shares during the period. Allspring Global Investments Holdings LLC increased its position in AAR by 32.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 732,957 shares of the aerospace company's stock worth $47,906,000 after purchasing an additional 181,518 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in AAR by 18.5% in the third quarter. Principal Financial Group Inc. now owns 500,200 shares of the aerospace company's stock valued at $32,693,000 after buying an additional 77,974 shares during the period. 90.74% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
AIR has been the subject of several recent research reports. Benchmark reissued a "buy" rating and issued a $83.00 price objective on shares of AAR in a research report on Friday, October 4th. Royal Bank of Canada reissued an "outperform" rating and issued a $75.00 price objective on shares of AAR in a research report on Monday, November 4th. Finally, StockNews.com raised AAR from a "sell" rating to a "hold" rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $81.00.
Check Out Our Latest Report on AAR
AAR Stock Down 1.7 %
NYSE:AIR traded down $1.17 on Tuesday, reaching $68.40. The stock had a trading volume of 142,402 shares, compared to its average volume of 222,251. AAR Corp. has a 12-month low of $54.71 and a 12-month high of $76.34. The stock has a market cap of $2.46 billion, a P/E ratio of 37.58 and a beta of 1.59. The company has a current ratio of 3.06, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average of $64.35 and a 200 day moving average of $66.42.
AAR (NYSE:AIR - Get Free Report) last issued its quarterly earnings data on Monday, September 23rd. The aerospace company reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.03. AAR had a return on equity of 10.22% and a net margin of 2.67%. The firm had revenue of $661.70 million during the quarter, compared to analyst estimates of $645.60 million. During the same quarter last year, the firm earned $0.78 EPS. AAR's quarterly revenue was up 20.4% on a year-over-year basis. On average, research analysts predict that AAR Corp. will post 3.63 earnings per share for the current year.
AAR Profile
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Free Report)
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.
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