Bank of New York Mellon Corp Has $18.64 Million Stake in AAR Corp. $AIR

Bank of New York Mellon Corp reduced its position in shares of AAR Corp. (NYSE:AIR) by 0.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 270,901 shares of the aerospace company’s stock after selling 1,672 shares during the period. Bank of New York Mellon Corp’s holdings in AAR were worth $18,635,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AIR. Virtus Advisers LLC purchased a new stake in shares of AAR in the first quarter worth approximately $47,000. State of Wyoming lifted its position in AAR by 128.5% in the 1st quarter. State of Wyoming now owns 1,821 shares of the aerospace company’s stock worth $102,000 after buying an additional 1,024 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in AAR in the 2nd quarter worth approximately $202,000. R Squared Ltd acquired a new stake in shares of AAR during the 2nd quarter valued at $206,000. Finally, Meyer Handelman Co. purchased a new position in shares of AAR during the 2nd quarter valued at $206,000. Hedge funds and other institutional investors own 90.74% of the company’s stock.

Analyst Upgrades and Downgrades

AIR has been the subject of several recent research reports. Wall Street Zen upgraded AAR from a “hold” rating to a “buy” rating in a report on Sunday, November 2nd. Truist Financial upped their target price on AAR from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of AAR in a report on Thursday. Royal Bank Of Canada restated an “outperform” rating and issued a $85.00 price objective on shares of AAR in a report on Wednesday, September 24th. Finally, Zacks Research lowered shares of AAR from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, AAR currently has a consensus rating of “Moderate Buy” and an average price target of $89.33.

Insider Buying and Selling

In related news, CEO John Mcclain Holmes III sold 38,462 shares of AAR stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $83.50, for a total value of $3,211,577.00. Following the transaction, the chief executive officer owned 260,141 shares in the company, valued at $21,721,773.50. This trade represents a 12.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.60% of the stock is owned by company insiders.

AAR Stock Up 1.9%

AIR opened at $81.60 on Monday. The firm has a market cap of $3.19 billion, a P/E ratio of 104.62 and a beta of 1.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.31 and a current ratio of 2.91. The business has a 50 day moving average price of $81.61 and a 200 day moving average price of $74.00. AAR Corp. has a twelve month low of $46.51 and a twelve month high of $89.69.

AAR (NYSE:AIR) last released its quarterly earnings results on Wednesday, May 28th. The aerospace company reported $0.83 EPS for the quarter. AAR had a net margin of 1.01% and a return on equity of 12.29%. The company had revenue of $553.30 million for the quarter. Research analysts forecast that AAR Corp. will post 3.77 EPS for the current year.

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.