American International Group Inc. decreased its stake in shares of AAR Corp. (NYSE:AIR) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,812 shares of the aerospace company’s stock after selling 670 shares during the quarter. American International Group Inc. owned about 0.07% of AAR worth $807,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in AAR by 57.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,523 shares of the aerospace company’s stock valued at $94,000 after acquiring an additional 917 shares during the last quarter. Arizona State Retirement System boosted its holdings in AAR by 7.1% in the fourth quarter. Arizona State Retirement System now owns 50,185 shares of the aerospace company’s stock valued at $1,874,000 after acquiring an additional 3,318 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in AAR in the fourth quarter valued at about $50,000. Gabelli Funds LLC boosted its holdings in AAR by 66.4% in the fourth quarter. Gabelli Funds LLC now owns 47,900 shares of the aerospace company’s stock valued at $1,789,000 after acquiring an additional 19,111 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in AAR by 20.4% in the fourth quarter. Rhumbline Advisers now owns 106,247 shares of the aerospace company’s stock valued at $3,967,000 after acquiring an additional 17,985 shares during the last quarter. 89.40% of the stock is currently owned by hedge funds and other institutional investors.
AAR stock traded down $0.23 during midday trading on Monday, reaching $36.56. The stock had a trading volume of 334,582 shares, compared to its average volume of 291,454. The stock has a market capitalization of $1.29 billion, a PE ratio of 20.42 and a beta of 1.17. AAR Corp. has a 1-year low of $29.84 and a 1-year high of $51.52. The company’s fifty day moving average is $32.61. The company has a quick ratio of 1.33, a current ratio of 2.76 and a debt-to-equity ratio of 0.20.
A number of brokerages have issued reports on AIR. Canaccord Genuity restated a “buy” rating and set a $48.00 target price on shares of AAR in a report on Wednesday, March 20th. ValuEngine lowered AAR from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 18th. Finally, Zacks Investment Research raised AAR from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $49.50.
AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The company operates in two segments, Aviation Services and Expeditionary Services. The Aviation Services segment offers aftermarket support and services; inventory management and distribution services; and maintenance, repair, and overhaul, as well as engineering services.
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