AAR Corp. (NYSE:AIR) Holdings Lowered by Connable Office Inc.

Connable Office Inc. reduced its position in AAR Corp. (NYSE:AIR) by 3.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,430 shares of the aerospace company’s stock after selling 243 shares during the quarter. Connable Office Inc.’s holdings in AAR were worth $486,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blair William & Co. IL increased its holdings in shares of AAR by 902.9% in the 1st quarter. Blair William & Co. IL now owns 57,679 shares of the aerospace company’s stock valued at $3,453,000 after purchasing an additional 51,928 shares during the period. Janus Henderson Group PLC increased its stake in AAR by 13.8% in the 1st quarter. Janus Henderson Group PLC now owns 530,682 shares of the aerospace company’s stock valued at $31,772,000 after buying an additional 64,274 shares during the period. Kennedy Capital Management LLC boosted its stake in shares of AAR by 205.0% during the 1st quarter. Kennedy Capital Management LLC now owns 79,393 shares of the aerospace company’s stock valued at $4,753,000 after buying an additional 53,363 shares during the period. Principal Financial Group Inc. grew its holdings in shares of 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 acquiring an additional 77,974 shares in the last quarter. Finally, Boston Partners purchased a new position in shares of AAR during the 1st quarter valued at $25,794,000. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

AAR Price Performance

Shares of AIR opened at $67.05 on Friday. The stock has a 50 day simple moving average of $63.98 and a 200 day simple moving average of $66.69. AAR Corp. has a 52-week low of $54.71 and a 52-week high of $76.34. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.45 and a current ratio of 3.06. The firm has a market capitalization of $2.41 billion, a PE ratio of 36.84 and a beta of 1.57.

AAR (NYSE:AIR) last posted its quarterly earnings data on Monday, September 23rd. The aerospace company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. AAR had a return on equity of 10.22% and a net margin of 2.67%. The company had revenue of $661.70 million during the quarter, compared to analysts’ expectations of $645.60 million. During the same period in the prior year, the firm earned $0.78 earnings per share. AAR’s revenue for the quarter was up 20.4% compared to the same quarter last year. Sell-side analysts predict that AAR Corp. will post 3.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AIR. StockNews.com raised AAR from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Stifel Nicolaus cut their target price on shares of AAR from $86.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Benchmark reissued a “buy” rating and issued a $83.00 price objective on shares of AAR in a research report on Friday, October 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set 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 five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average 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.