Peregrine Capital Management LLC Decreases Stock Holdings in AAR Corp. $AIR

Peregrine Capital Management LLC lessened its stake in AAR Corp. (NYSE:AIR) by 33.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 87,988 shares of the aerospace company’s stock after selling 44,356 shares during the quarter. Peregrine Capital Management LLC’s holdings in AAR were worth $9,631,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AIR. JPMorgan Chase & Co. raised its position in shares of AAR by 61.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 91,520 shares of the aerospace company’s stock worth $8,207,000 after purchasing an additional 34,689 shares during the last quarter. Vanguard Group Inc. increased its stake in AAR by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company’s stock worth $336,229,000 after buying an additional 281,871 shares in the last quarter. First Eagle Investment Management LLC increased its stake in AAR by 22.5% during the 4th quarter. First Eagle Investment Management LLC now owns 61,619 shares of the aerospace company’s stock worth $5,101,000 after buying an additional 11,300 shares in the last quarter. Fred Alger Management LLC raised its holdings in shares of AAR by 4.4% during the third quarter. Fred Alger Management LLC now owns 694,402 shares of the aerospace company’s stock valued at $62,267,000 after acquiring an additional 29,251 shares during the last quarter. Finally, Artemis Investment Management LLP acquired a new position in shares of AAR during the fourth quarter valued at approximately $1,230,000. 90.74% of the stock is owned by hedge funds and other institutional investors.

AAR Trading Up 0.9%

Shares of AAR stock opened at $143.09 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.70 and a quick ratio of 1.23. The stock’s 50 day simple moving average is $118.33 and its 200-day simple moving average is $109.70. The stock has a market cap of $5.69 billion, a P/E ratio of 31.73 and a beta of 1.13. AAR Corp. has a 1-year low of $68.30 and a 1-year high of $143.46.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AIR shares. Truist Financial raised AAR to a “strong-buy” rating in a research note on Friday, May 1st. Jefferies Financial Group increased their price objective on AAR to $150.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Weiss Ratings upgraded AAR from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 15th. Royal Bank Of Canada lifted their target price on shares of AAR from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 25th. Finally, KeyCorp lowered shares of AAR from an “overweight” rating to a “sector weight” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.20.

AAR Company Profile

AAR Corp. (NYSE: AIR) is a global provider of aviation products and services to commercial, government and defense customers. The company offers a comprehensive portfolio of maintenance, repair and overhaul (MRO) solutions, component repair and overhaul, and engineering services designed to support a wide variety of fixed-wing and rotary aircraft. Leveraging FAA and EASA certifications, AAR delivers turnkey maintenance programs and ad hoc repair services that enhance aircraft availability and reliability.

In its Aviation Supply Chain Services segment, AAR sources, stores and distributes parts for both commercial airlines and military operators.