AAR Corp. (NYSE:AIR) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in shares of AAR Corp. (NYSE:AIR - Free Report) by 18.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 500,200 shares of the aerospace company's stock after buying an additional 77,974 shares during the period. Principal Financial Group Inc. owned about 1.39% of AAR worth $32,693,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Westwood Holdings Group Inc. purchased a new position in AAR during the second quarter valued at approximately $77,754,000. American Century Companies Inc. boosted its stake in shares of AAR by 1,956.5% during the 2nd quarter. American Century Companies Inc. now owns 909,953 shares of the aerospace company's stock worth $66,154,000 after acquiring an additional 865,705 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of AAR by 32.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 732,957 shares of the aerospace company's stock valued at $47,906,000 after buying an additional 181,518 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in AAR by 83.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 297,482 shares of the aerospace company's stock worth $21,627,000 after acquiring an additional 135,445 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its position in AAR by 20.5% during the third quarter. Loomis Sayles & Co. L P now owns 790,267 shares of the aerospace company's stock worth $51,652,000 after acquiring an additional 134,215 shares during the period. Institutional investors and hedge funds own 90.74% of the company's stock.

AAR Price Performance

Shares of AIR traded up $1.07 during trading hours on Tuesday, reaching $60.93. The company had a trading volume of 68,735 shares, compared to its average volume of 296,511. 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 12-month low of $54.71 and a 12-month high of $76.34. The firm has a 50 day simple moving average of $64.61 and a 200-day simple moving average of $65.77. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 33.48 and a beta of 1.59.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. StockNews.com upgraded AAR from a "sell" rating to a "hold" rating in a research report on Monday, October 21st. Benchmark restated a "buy" rating and issued a $83.00 price objective on shares of AAR in a report on Friday, October 4th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $75.00 price target on shares of AAR in a research note on Monday, November 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, AAR has a consensus rating of "Moderate Buy" and an average price target of $81.00.

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.