AAR Corp. (NYSE:AIR) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its stake in AAR Corp. (NYSE:AIR) by 0.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 19,285 shares of the aerospace company’s stock after selling 169 shares during the period. The Manufacturers Life Insurance Company’s holdings in AAR were worth $1,260,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Quest Partners LLC acquired a new position in AAR in the second quarter worth about $33,000. Innealta Capital LLC bought a new position in AAR during the 2nd quarter worth approximately $49,000. EverSource Wealth Advisors LLC grew its position in shares of AAR by 43.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 778 shares of the aerospace company’s stock worth $57,000 after acquiring an additional 234 shares in the last quarter. KBC Group NV increased its holdings in shares of AAR by 32.9% in the 3rd quarter. KBC Group NV now owns 1,324 shares of the aerospace company’s stock valued at $87,000 after acquiring an additional 328 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in shares of AAR by 348.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,416 shares of the aerospace company’s stock valued at $103,000 after acquiring an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Stock Up 0.6 %

AIR stock opened at $67.30 on Thursday. AAR Corp. has a fifty-two week low of $54.71 and a fifty-two week high of $76.34. The stock has a market cap of $2.42 billion, a PE ratio of 36.98 and a beta of 1.59. The firm’s 50-day simple moving average is $64.76 and its 200 day simple moving average is $66.29. The company has a quick ratio of 1.45, a current ratio of 3.06 and a debt-to-equity ratio of 0.81.

AAR (NYSE:AIR) last issued its quarterly earnings results on Monday, September 23rd. The aerospace company reported $0.85 EPS 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 during the quarter, compared to the consensus estimate of $645.60 million. During the same quarter in the prior year, the firm earned $0.78 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, sell-side analysts predict that AAR Corp. will post 3.63 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AIR. Benchmark reiterated a “buy” rating and set a $83.00 target price on shares of AAR in a research note on Friday, October 4th. StockNews.com upgraded shares of AAR from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $75.00 target price on shares of AAR in a research note on Monday, November 4th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently 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.