Victory Capital Management Inc. Sells 66,765 Shares of AAR Corp. (NYSE:AIR)

Victory Capital Management Inc. reduced its stake in AAR Corp. (NYSE:AIR - Free Report) by 19.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 271,616 shares of the aerospace company's stock after selling 66,765 shares during the quarter. Victory Capital Management Inc. owned 0.76% of AAR worth $19,746,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AIR. EverSource Wealth Advisors LLC grew its position in shares of AAR by 283.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 544 shares of the aerospace company's stock valued at $33,000 after buying an additional 402 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of AAR in the second quarter valued at about $49,000. Geneos Wealth Management Inc. acquired a new position in shares of AAR in the first quarter valued at approximately $63,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of AAR by 348.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,416 shares of the aerospace company's stock valued at $103,000 after buying an additional 1,100 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of AAR by 40.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,488 shares of the aerospace company's stock valued at $108,000 after buying an additional 428 shares during the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.

AAR Stock Performance

Shares of NYSE:AIR traded up $1.74 during trading on Friday, reaching $67.64. The stock had a trading volume of 252,039 shares, compared to its average volume of 300,084. The stock has a fifty day simple moving average of $65.64 and a two-hundred day simple moving average of $66.48. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 39.79 and a beta of 1.55. The company has a quick ratio of 1.41, a current ratio of 2.98 and a debt-to-equity ratio of 0.83. AAR Corp. has a 52 week low of $54.71 and a 52 week high of $76.34.

AAR (NYSE:AIR - Get Free Report) last posted its quarterly 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 net margin of 2.00% and a return on equity of 10.16%. The firm had revenue of $656.50 million for the quarter, compared to the consensus estimate of $660.05 million. During the same quarter in the previous year, the company earned $0.83 earnings per share. The business's revenue was up 18.7% compared to the same quarter last year. As a group, analysts anticipate that AAR Corp. will post 3.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AIR shares. Royal Bank of Canada increased their price objective on shares of AAR from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Friday, July 19th. Stifel Nicolaus dropped their target price on shares of AAR from $86.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, July 19th. Finally, StockNews.com cut shares of AAR from a "hold" rating to a "sell" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.50.

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.