AAR Corp. (NYSE:AIR) Shares Sold by Synovus Financial Corp

Synovus Financial Corp lessened its stake in AAR Corp. (NYSE:AIR) by 15.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,883 shares of the aerospace company’s stock after selling 1,298 shares during the period. Synovus Financial Corp’s holdings in AAR were worth $422,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Invesco Ltd. raised its stake in AAR by 13.5% during the fourth quarter. Invesco Ltd. now owns 1,070,618 shares of the aerospace company’s stock valued at $65,607,000 after buying an additional 127,148 shares in the last quarter. Franklin Resources Inc. raised its position in shares of AAR by 13.4% during the 3rd quarter. Franklin Resources Inc. now owns 969,741 shares of the aerospace company’s stock valued at $59,591,000 after acquiring an additional 114,460 shares in the last quarter. Raymond James Financial Inc. bought a new position in AAR during the fourth quarter worth $6,849,000. Norges Bank acquired a new position in AAR in the fourth quarter worth $6,321,000. Finally, JPMorgan Chase & Co. increased its stake in AAR by 215.9% during the fourth quarter. JPMorgan Chase & Co. now owns 128,676 shares of the aerospace company’s stock valued at $7,885,000 after purchasing an additional 87,939 shares during the last quarter. Institutional investors own 90.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AIR. StockNews.com lowered shares of AAR from a “hold” rating to a “sell” rating in a report on Tuesday, April 8th. Truist Financial decreased their target price on AAR from $81.00 to $78.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Finally, KeyCorp lowered their target price on AAR from $83.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, AAR currently has an average rating of “Moderate Buy” and an average target price of $80.20.

AAR Price Performance

Shares of NYSE:AIR opened at $52.82 on Friday. The firm’s 50 day moving average is $61.53 and its two-hundred day moving average is $63.94. The firm has a market capitalization of $1.91 billion, a P/E ratio of 188.66 and a beta of 1.32. The company has a current ratio of 2.68, a quick ratio of 1.27 and a debt-to-equity ratio of 0.84. AAR Corp. has a 52 week low of $46.51 and a 52 week high of $76.34.

AAR (NYSE:AIR) last announced its earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.03. AAR had a return on equity of 10.46% and a net margin of 0.41%. The firm had revenue of $678.20 million for the quarter, compared to the consensus estimate of $699.13 million. During the same quarter in the previous year, the business earned $0.85 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. Analysts anticipate that AAR Corp. will post 3.77 earnings per share 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.