Peregrine Capital Management LLC Purchases 38,494 Shares of AAR Corp. (NYSE:AIR)

Peregrine Capital Management LLC raised its holdings in AAR Corp. (NYSE:AIR - Free Report) by 37.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 141,500 shares of the aerospace company's stock after acquiring an additional 38,494 shares during the quarter. Peregrine Capital Management LLC owned about 0.39% of AAR worth $8,671,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Franklin Resources Inc. lifted its stake in AAR by 13.4% in the third quarter. Franklin Resources Inc. now owns 969,741 shares of the aerospace company's stock valued at $59,591,000 after acquiring an additional 114,460 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of AAR by 3.6% in the third quarter. Geode Capital Management LLC now owns 796,962 shares of the aerospace company's stock worth $52,101,000 after buying an additional 27,747 shares during the last quarter. Loomis Sayles & Co. L P lifted its stake in shares of AAR by 20.5% in the third quarter. Loomis Sayles & Co. L P now owns 790,267 shares of the aerospace company's stock worth $51,652,000 after buying an additional 134,215 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of AAR by 32.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 732,957 shares of the aerospace company's stock worth $47,906,000 after buying an additional 181,518 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of AAR by 18.5% in the third quarter. Principal Financial Group Inc. now owns 500,200 shares of the aerospace company's stock worth $32,693,000 after buying an additional 77,974 shares during the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AIR. StockNews.com cut shares of AAR from a "hold" rating to a "sell" rating in a research note on Wednesday, February 5th. Royal Bank of Canada restated an "outperform" rating and issued a $75.00 price objective on shares of AAR in a research note on Monday, November 4th. Finally, KeyCorp began coverage on shares of AAR in a research note on Thursday, January 16th. They issued an "overweight" rating and a $83.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $81.50.

AAR Stock Performance

AIR stock traded down $2.28 on Friday, reaching $61.84. 207,888 shares of the company were exchanged, compared to its average volume of 240,014. AAR Corp. has a 12 month low of $54.71 and a 12 month high of $76.34. The stock's fifty day moving average price is $65.73 and its 200 day moving average price is $65.02. The firm has a market capitalization of $2.22 billion, a PE ratio of 220.85 and a beta of 1.61. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.68 and a quick ratio of 1.27.

AAR (NYSE:AIR - Get Free Report) last announced its earnings results on Tuesday, January 7th. The aerospace company reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.07. AAR had a net margin of 0.41% and a return on equity of 10.46%. The business had revenue of $686.10 million for the quarter, compared to analyst estimates of $654.47 million. During the same quarter in the previous year, the firm posted $0.81 earnings per share. AAR's revenue was up 25.8% compared to the same quarter last year. On average, research analysts anticipate that AAR Corp. will post 3.77 EPS for the current fiscal year.

Insider Buying and Selling

In other AAR news, CFO Sean M. Gillen sold 17,385 shares of the business's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $66.33, for a total value of $1,153,147.05. Following the sale, the chief financial officer now owns 72,326 shares of the company's stock, valued at $4,797,383.58. The trade was a 19.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John Mcclain Holmes III sold 5,000 shares of the business's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $70.81, for a total transaction of $354,050.00. Following the completion of the sale, the chief executive officer now directly owns 341,680 shares in the company, valued at $24,194,360.80. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,793 shares of company stock valued at $12,538,396. 4.10% of the stock is owned by company insiders.

AAR Company Profile

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.