State Street Corp Sells 208,054 Shares of AAR Corp. (NYSE:AIR)

State Street Corp cut its holdings in shares of AAR Corp. (NYSE:AIR - Free Report) by 10.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,765,195 shares of the aerospace company's stock after selling 208,054 shares during the period. State Street Corp owned approximately 4.92% of AAR worth $115,373,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in AAR by 18.5% during the 3rd quarter. Principal Financial Group Inc. now owns 500,200 shares of the aerospace company's stock valued at $32,693,000 after purchasing an additional 77,974 shares during the period. 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 valued at $40,090,000 after buying an additional 160,363 shares during the period. Earnest Partners LLC grew 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 acquiring an additional 48,630 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of AAR during the 2nd quarter worth about $2,330,000. Finally, Resolute Capital Asset Partners LLC increased its position in AAR by 54.3% during the second quarter. Resolute Capital Asset Partners LLC now owns 30,000 shares of the aerospace company's stock worth $2,181,000 after buying an additional 10,562 shares during the last quarter. 90.74% of the stock is currently owned by institutional investors.

AAR Stock Performance

Shares of NYSE AIR traded up $0.69 during trading hours on Monday, reaching $63.91. The stock had a trading volume of 171,688 shares, compared to its average volume of 295,696. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 35.12 and a beta of 1.59. AAR Corp. has a twelve month low of $54.71 and a twelve month high of $76.34. The business's fifty day moving average is $64.68 and its two-hundred day moving average is $66.12. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.06 and a quick ratio of 1.45.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AIR. Royal Bank of Canada reiterated an "outperform" rating and set a $75.00 price target on shares of AAR in a research note on Monday, November 4th. Benchmark reissued a "buy" rating and issued a $83.00 price target on shares of AAR in a research report on Friday, October 4th. Finally, StockNews.com raised shares of AAR from a "sell" rating to a "hold" rating in a report on Monday, October 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $81.00.

AAR Company 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.