AAR Corp. (NYSE:AIR) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P reduced its position in shares of AAR Corp. (NYSE:AIR) by 46.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,324 shares of the aerospace company’s stock after selling 20,961 shares during the period. Martingale Asset Management L P owned about 0.07% of AAR worth $1,590,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of AAR by 283.1% during the first quarter. EverSource Wealth Advisors LLC now owns 544 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 402 shares in the last quarter. Quest Partners LLC acquired a new position in shares of AAR during the second quarter worth $33,000. Innealta Capital LLC acquired a new position in shares of AAR during the second quarter worth $49,000. KBC Group NV lifted its position in shares of AAR by 32.9% during the third quarter. KBC Group NV now owns 1,324 shares of the aerospace company’s stock worth $87,000 after purchasing an additional 328 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake 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 worth $103,000 after buying an additional 1,100 shares during the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on AIR shares. StockNews.com upgraded shares of AAR from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Royal Bank of Canada restated an “outperform” rating and issued a $75.00 price target on shares of AAR in a research note on Monday, November 4th. Finally, Benchmark restated a “buy” rating and issued a $83.00 price target on shares of AAR in a research note on Friday, October 4th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, AAR presently has an average rating of “Moderate Buy” and a consensus target price of $81.00.

AAR Stock Up 0.7 %

AIR stock opened at $69.52 on Monday. 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 Corp. has a 1-year low of $54.71 and a 1-year high of $76.34. The firm has a fifty day moving average price of $64.34 and a two-hundred day moving average price of $66.48. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 38.20 and a beta of 1.57.

AAR (NYSE:AIR) last released 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. AAR had a net margin of 2.67% and a return on equity of 10.22%. The firm had revenue of $661.70 million during the quarter, compared to analyst estimates of $645.60 million. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. Research analysts predict that AAR Corp. will post 3.63 EPS for the current year.

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.