Martingale Asset Management L P Lowers Holdings in AAR Corp. (NYSE:AIR)

Martingale Asset Management L P trimmed its stake in AAR Corp. (NYSE:AIR - Free Report) by 46.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,324 shares of the aerospace company's stock after selling 20,961 shares during the period. Martingale Asset Management L P owned 0.07% of AAR worth $1,590,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Principal Financial Group Inc. increased its stake in AAR by 18.5% in the 3rd 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 in the last quarter. Allspring Global Investments Holdings LLC increased its stake in AAR by 41.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 551,439 shares of the aerospace company's stock worth $40,090,000 after buying an additional 160,363 shares in the last quarter. Earnest Partners LLC boosted its holdings in shares of AAR by 3.2% during the 2nd quarter. Earnest Partners LLC now owns 1,588,893 shares of the aerospace company's stock valued at $115,513,000 after purchasing an additional 48,630 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in shares of AAR during the 2nd quarter valued at about $2,330,000. Finally, Resolute Capital Asset Partners LLC boosted its holdings in shares of AAR by 54.3% during the 2nd quarter. Resolute Capital Asset Partners LLC now owns 30,000 shares of the aerospace company's stock valued at $2,181,000 after purchasing an additional 10,562 shares during the last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on AIR shares. Benchmark reissued a "buy" rating and set a $83.00 price objective on shares of AAR in a report on Friday, October 4th. Royal Bank of Canada reiterated an "outperform" rating and issued a $75.00 price target on shares of AAR in a research report on Monday, November 4th. Finally, StockNews.com upgraded 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $81.00.

AAR Trading Up 0.1 %

Shares of AAR stock traded up $0.05 on Monday, hitting $69.57. 185,405 shares of the company traded hands, compared to its average volume of 300,350. The stock's 50 day moving average price is $64.34 and its 200-day moving average price is $66.44. The company has a current ratio of 3.06, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. AAR Corp. has a 52 week low of $54.71 and a 52 week high of $76.34. The company has a market cap of $2.50 billion, a PE ratio of 38.20 and a beta of 1.57.

AAR (NYSE:AIR - Get Free Report) last issued its quarterly earnings data on Monday, September 23rd. The aerospace company reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.03. The company had revenue of $661.70 million during the quarter, compared to the consensus estimate of $645.60 million. AAR had a net margin of 2.67% and a return on equity of 10.22%. AAR's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Equities research analysts predict that AAR Corp. will post 3.63 EPS for the current year.

AAR 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.