AAR Corp. (NYSE:AIR) Stock Position Reduced by Fred Alger Management LLC

Fred Alger Management LLC trimmed its position in AAR Corp. (NYSE:AIR) by 1.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 508,242 shares of the aerospace company’s stock after selling 5,478 shares during the quarter. Fred Alger Management LLC’s holdings in AAR were worth $33,219,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in AIR. Verition Fund Management LLC grew its position in shares of AAR by 28.7% during the 3rd quarter. Verition Fund Management LLC now owns 18,017 shares of the aerospace company’s stock valued at $1,178,000 after buying an additional 4,015 shares during the last quarter. Captrust Financial Advisors boosted its stake in AAR by 5.3% in the third quarter. Captrust Financial Advisors now owns 3,537 shares of the aerospace company’s stock valued at $231,000 after acquiring an additional 177 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of AAR by 1.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 76,451 shares of the aerospace company’s stock valued at $4,997,000 after purchasing an additional 879 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of AAR by 2.6% during the third quarter. Public Sector Pension Investment Board now owns 74,736 shares of the aerospace company’s stock valued at $4,885,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of AAR by 5.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,843 shares of the aerospace company’s stock worth $643,000 after purchasing an additional 551 shares during the period. 90.74% of the stock is owned by institutional investors and hedge funds.

AAR Stock Up 0.7 %

Shares of AAR stock opened at $69.52 on Friday. 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 business’s fifty day moving average price is $64.34 and its two-hundred day moving average price is $66.53. The company has a market capitalization of $2.50 billion, a P/E ratio of 37.92 and a beta of 1.57.

AAR (NYSE:AIR) last issued its quarterly earnings data on Monday, September 23rd. The aerospace company reported $0.85 earnings per share for the quarter, beating 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 net margin of 2.67% and a return on equity of 10.22%. The company’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 earnings per share. As a group, research analysts forecast that AAR Corp. will post 3.63 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $75.00 price objective on shares of AAR in a research report on Monday, November 4th. Benchmark reissued a “buy” rating and set a $83.00 price target on shares of AAR in a 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 equities 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.com, the company 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.