AAR Corp. (NYSE:AIR) Shares Sold by Mengis Capital Management Inc.

Mengis Capital Management Inc. cut its stake in AAR Corp. (NYSE:AIR) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,140 shares of the aerospace company’s stock after selling 250 shares during the period. Mengis Capital Management Inc.’s holdings in AAR were worth $663,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Swiss National Bank lifted its position in shares of AAR by 6.1% during 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 last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of AAR in the 1st quarter worth approximately $544,000. Sei Investments Co. increased its holdings in shares of AAR by 730.8% in the 1st quarter. Sei Investments Co. now owns 97,552 shares of the aerospace company’s stock valued at $5,840,000 after acquiring an additional 85,810 shares during the last quarter. ProShare Advisors LLC raised its position in shares of AAR by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 6,808 shares of the aerospace company’s stock valued at $408,000 after acquiring an additional 461 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in AAR by 14.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 11,311 shares of the aerospace company’s stock worth $617,000 after purchasing an additional 1,460 shares during the last quarter. 90.74% of the stock is currently owned by institutional investors.

AAR Trading Up 0.8 %

AAR stock opened at $67.86 on Wednesday. AAR Corp. has a 52-week low of $54.71 and a 52-week high of $76.34. The company has a quick ratio of 1.45, a current ratio of 3.06 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 37.29 and a beta of 1.57. The firm has a 50-day moving average price of $63.92 and a two-hundred day moving average price of $66.68.

AAR (NYSE:AIR) last issued its quarterly earnings data on Monday, September 23rd. The aerospace company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $661.70 million during the quarter, compared to analyst estimates of $645.60 million. AAR had a return on equity of 10.22% and a net margin of 2.67%. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 EPS. Sell-side analysts expect that AAR Corp. will post 3.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. StockNews.com raised shares of AAR from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $75.00 target price on shares of AAR in a report on Monday, November 4th. Stifel Nicolaus lowered their target price on AAR from $86.00 to $85.00 and set a “buy” rating for the company in a report on Friday, July 19th. Finally, Benchmark reissued a “buy” rating and issued a $83.00 price target on shares of AAR in a report on Friday, October 4th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, AAR presently has an average rating of “Moderate Buy” and a consensus 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.