Oppenheimer Asset Management Inc. Sells 483 Shares of AAR Corp. (NYSE:AIR)

Oppenheimer Asset Management Inc. cut its position in AAR Corp. (NYSE:AIR) by 1.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 32,797 shares of the aerospace company’s stock after selling 483 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in AAR were worth $2,144,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Swiss National Bank increased its stake in shares of AAR by 6.1% in the first quarter. Swiss National Bank now owns 70,100 shares of the aerospace company’s stock worth $4,197,000 after purchasing an additional 4,000 shares during the period. Sei Investments Co. increased its position in AAR by 730.8% in the 1st quarter. Sei Investments Co. now owns 97,552 shares of the aerospace company’s stock worth $5,840,000 after buying an additional 85,810 shares during the period. ProShare Advisors LLC lifted its holdings in shares of AAR by 7.3% during the first quarter. ProShare Advisors LLC now owns 6,808 shares of the aerospace company’s stock worth $408,000 after buying an additional 461 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of AAR by 14.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 11,311 shares of the aerospace company’s stock valued at $617,000 after acquiring an additional 1,460 shares during the period. Finally, Blair William & Co. IL grew its stake in shares of AAR by 902.9% in the first quarter. Blair William & Co. IL now owns 57,679 shares of the aerospace company’s stock worth $3,453,000 after acquiring an additional 51,928 shares during the last quarter. Institutional investors own 90.74% of the company’s stock.

AAR Stock Down 1.3 %

AIR opened at $66.15 on Friday. The company has a market capitalization of $2.38 billion, a P/E ratio of 36.35 and a beta of 1.57. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.06 and a quick ratio of 1.45. The firm’s fifty day moving average price is $64.03 and its two-hundred day moving average price is $66.65. AAR Corp. has a fifty-two week low of $54.71 and a fifty-two week high of $76.34.

AAR (NYSE:AIR) 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. AAR had a net margin of 2.67% and a return on equity of 10.22%. The business had revenue of $661.70 million for the quarter, compared to analyst estimates of $645.60 million. During the same period in the previous year, the business earned $0.78 EPS. The firm’s revenue was up 20.4% on a year-over-year basis. On average, analysts anticipate that AAR Corp. will post 3.63 EPS for the current year.

Wall Street Analysts Forecast Growth

AIR has been the subject of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $75.00 target price on shares of AAR in a research note on Monday, November 4th. Benchmark reaffirmed a “buy” rating and set a $83.00 price objective on shares of AAR in a research report on Friday, October 4th. Finally, StockNews.com upgraded shares of AAR from a “sell” rating to a “hold” rating in a research note 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 stock. Based on data from MarketBeat.com, AAR has a consensus rating of “Moderate Buy” and a consensus target price of $81.00.

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.