Synovus Financial Corp Has $535,000 Holdings in AAR Corp. (NYSE:AIR)

Synovus Financial Corp lessened its holdings in shares of AAR Corp. (NYSE:AIR) by 20.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,181 shares of the aerospace company’s stock after selling 2,144 shares during the quarter. Synovus Financial Corp’s holdings in AAR were worth $535,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AIR. Westwood Holdings Group Inc. acquired a new position in AAR during the second quarter worth approximately $77,754,000. American Century Companies Inc. boosted its holdings in shares of AAR by 1,956.5% during the second quarter. American Century Companies Inc. now owns 909,953 shares of the aerospace company’s stock worth $66,154,000 after acquiring an additional 865,705 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of AAR by 32.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 732,957 shares of the aerospace company’s stock worth $47,906,000 after acquiring an additional 181,518 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of AAR by 83.6% during the second quarter. Thrivent Financial for Lutherans now owns 297,482 shares of the aerospace company’s stock worth $21,627,000 after acquiring an additional 135,445 shares during the period. Finally, Loomis Sayles & Co. L P boosted its holdings in shares of AAR by 20.5% during the third quarter. Loomis Sayles & Co. L P now owns 790,267 shares of the aerospace company’s stock worth $51,652,000 after acquiring an additional 134,215 shares during the period. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Trading Down 1.8 %

Shares of AIR stock opened at $62.78 on Wednesday. The company has a current ratio of 3.06, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. The stock has a market cap of $2.25 billion, a P/E ratio of 34.51 and a beta of 1.59. The stock has a 50 day simple moving average of $64.68 and a 200 day simple moving average of $66.12. AAR Corp. has a 1 year low of $54.71 and a 1 year high of $76.34.

AAR (NYSE:AIR) last issued its quarterly earnings results on Monday, September 23rd. The aerospace company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. The business had revenue of $661.70 million during the quarter, compared to analysts’ expectations of $645.60 million. AAR had a return on equity of 10.22% and a net margin of 2.67%. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 earnings per share. On average, research analysts predict that AAR Corp. will post 3.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

AIR has been the subject of a number of research analyst reports. StockNews.com upgraded AAR from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Benchmark restated a “buy” rating and set a $83.00 price objective on shares of AAR in a report on Friday, October 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $75.00 price objective on shares of AAR in a report on Monday, November 4th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, AAR has a consensus rating of “Moderate Buy” and a consensus target price 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.