Principal Financial Group Inc. Sells 83,126 Shares of AAR Corp. (NYSE:AIR)

Principal Financial Group Inc. decreased its position in AAR Corp. (NYSE:AIR - Free Report) by 16.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 422,226 shares of the aerospace company's stock after selling 83,126 shares during the period. Principal Financial Group Inc. owned about 1.18% of AAR worth $30,696,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in AAR during the fourth quarter worth $27,000. Truist Financial Corp grew its holdings in shares of AAR by 27.8% in the 4th quarter. Truist Financial Corp now owns 7,865 shares of the aerospace company's stock valued at $491,000 after acquiring an additional 1,710 shares in the last quarter. Sheets Smith Wealth Management grew its holdings in shares of AAR by 4.7% in the 4th quarter. Sheets Smith Wealth Management now owns 7,176 shares of the aerospace company's stock valued at $448,000 after acquiring an additional 325 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of AAR by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 531,786 shares of the aerospace company's stock valued at $33,183,000 after acquiring an additional 17,465 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in AAR by 92.3% during the fourth quarter. BNP Paribas Financial Markets now owns 59,333 shares of the aerospace company's stock worth $3,702,000 after acquiring an additional 28,485 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company's stock.

AAR Stock Performance

NYSE AIR traded up $0.20 during trading on Monday, reaching $65.78. 168,500 shares of the company's stock were exchanged, compared to its average volume of 303,313. AAR Corp. has a fifty-two week low of $54.71 and a fifty-two week high of $76.34. The stock has a market capitalization of $2.36 billion, a P/E ratio of 38.69 and a beta of 1.54. The business has a 50 day moving average price of $66.73 and a 200-day moving average price of $66.58. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.98 and a quick ratio of 1.41.

AAR (NYSE:AIR - Get Free Report) last posted its earnings results on Thursday, July 18th. The aerospace company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.02. AAR had a return on equity of 10.16% and a net margin of 2.00%. The business had revenue of $656.50 million for the quarter, compared to analyst estimates of $660.05 million. During the same period in the previous year, the firm earned $0.83 EPS. The firm's revenue was up 18.7% compared to the same quarter last year. Sell-side analysts forecast that AAR Corp. will post 3.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on AIR shares. Stifel Nicolaus lowered their price target on AAR from $86.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, July 19th. Royal Bank of Canada raised their target price on shares of AAR from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Friday, July 19th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, AAR has a consensus rating of "Moderate Buy" and an average price target of $83.50.

AAR Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. It operates through Aviation Services and Expeditionary Services segments. The Aviation Services segment engages in lease and sale of new, overhauled and repaired engine, and airframe parts and components, as well as aircrafts; and offers customized flight hour component inventory and repair, warranty claim management, and outsourcing programs for engine and airframe parts and components.