Wells Fargo & Company MN Has $5.72 Million Position in AAR Corp. (NYSE:AIR)

Wells Fargo & Company MN trimmed its position in shares of AAR Corp. (NYSE:AIR - Free Report) by 11.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,304 shares of the aerospace company's stock after selling 11,655 shares during the quarter. Wells Fargo & Company MN owned 0.26% of AAR worth $5,718,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Smartleaf Asset Management LLC raised its holdings in AAR by 124.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the aerospace company's stock worth $62,000 after purchasing an additional 561 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in AAR by 1,965.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,322 shares of the aerospace company's stock valued at $81,000 after buying an additional 1,258 shares in the last quarter. Toth Financial Advisory Corp grew its position in shares of AAR by 133.3% in the fourth quarter. Toth Financial Advisory Corp now owns 1,400 shares of the aerospace company's stock valued at $86,000 after purchasing an additional 800 shares during the last quarter. KBC Group NV grew its position in shares of AAR by 42.5% in the fourth quarter. KBC Group NV now owns 1,887 shares of the aerospace company's stock valued at $116,000 after purchasing an additional 563 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in AAR by 52.1% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,711 shares of the aerospace company's stock worth $166,000 after acquiring an additional 929 shares during the last quarter. Hedge funds and other institutional investors own 90.74% of the company's stock.

AAR Trading Up 2.3 %

Shares of NYSE AIR traded up $1.21 during mid-day trading on Thursday, hitting $52.97. The company's stock had a trading volume of 25,935 shares, compared to its average volume of 275,175. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 188.85 and a beta of 1.32. The company's fifty day simple moving average is $60.30 and its 200-day simple moving average is $63.56. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.68 and a quick ratio of 1.27. AAR Corp. has a one year low of $46.51 and a one year high of $76.34.

AAR (NYSE:AIR - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.03. AAR had a net margin of 0.41% and a return on equity of 10.46%. The company had revenue of $678.20 million for the quarter, compared to the consensus estimate of $699.13 million. During the same period last year, the company earned $0.85 earnings per share. The firm's revenue was up 19.5% compared to the same quarter last year. On average, sell-side analysts anticipate that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Truist Financial reduced their price target on shares of AAR from $81.00 to $78.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. StockNews.com raised shares of AAR from a "sell" rating to a "hold" rating in a report on Saturday, April 19th. Finally, KeyCorp cut their target price on shares of AAR from $83.00 to $80.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. 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, AAR has an average rating of "Moderate Buy" and an average price target of $80.20.

About AAR

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.