AAR Corp. (NYSE:AIR) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in AAR Corp. (NYSE:AIR - Free Report) by 37.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 421,770 shares of the aerospace company's stock after purchasing an additional 115,330 shares during the period. Bank of New York Mellon Corp owned about 1.18% of AAR worth $30,663,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC grew its position in shares of AAR by 4.3% in the 1st quarter. First Eagle Investment Management LLC now owns 197,805 shares of the aerospace company's stock valued at $11,843,000 after buying an additional 8,170 shares during the last quarter. Quadrature Capital Ltd increased its position in shares of AAR by 77.3% in the fourth quarter. Quadrature Capital Ltd now owns 29,982 shares of the aerospace company's stock valued at $1,870,000 after buying an additional 13,075 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of AAR in the first quarter valued at approximately $544,000. Charles Schwab Investment Management Inc. lifted its stake in shares of AAR by 3.4% during 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 buying an additional 17,465 shares during the period. Finally, Blair William & Co. IL boosted its position in shares of AAR by 902.9% in the first quarter. Blair William & Co. IL now owns 57,679 shares of the aerospace company's stock worth $3,453,000 after acquiring an additional 51,928 shares during the last quarter. Hedge funds and other institutional investors own 90.74% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AIR shares. Stifel Nicolaus dropped their target price 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 increased their price target on AAR from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Friday, July 19th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $83.50.

AAR Stock Performance

Shares of NYSE:AIR traded up $1.23 during trading on Wednesday, hitting $66.11. 213,411 shares of the company were exchanged, compared to its average volume of 302,815. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.98 and a quick ratio of 1.41. The stock has a 50 day moving average of $66.48 and a 200 day moving average of $66.56. 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 $2.34 billion, a PE ratio of 38.89 and a beta of 1.54.

AAR (NYSE:AIR - Get Free Report) last released its earnings results on Thursday, July 18th. The aerospace company reported $0.88 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $660.05 million. During the same period in the previous year, the company posted $0.83 earnings per share. The company's revenue for the quarter was up 18.7% compared to the same quarter last year. As a group, equities research analysts predict that AAR Corp. will post 3.84 EPS for the current year.

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.