State of New Jersey Common Pension Fund D Has $2.28 Million Holdings in AAR Corp. (NYSE:AIR)

State of New Jersey Common Pension Fund D trimmed its position in shares of AAR Corp. (NYSE:AIR) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,458 shares of the aerospace company’s stock after selling 3,839 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.10% of AAR worth $2,275,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. First Eagle Investment Management LLC lifted its holdings in shares of AAR by 36.9% during the 3rd quarter. First Eagle Investment Management LLC now owns 190,928 shares of the aerospace company’s stock worth $11,366,000 after acquiring an additional 51,438 shares during the period. Loomis Sayles & Co. L P boosted its holdings in shares of AAR by 11.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 680,241 shares of the aerospace company’s stock valued at $40,494,000 after purchasing an additional 71,272 shares in the last quarter. Gotham Asset Management LLC increased its stake in shares of AAR by 20.4% in the 3rd quarter. Gotham Asset Management LLC now owns 5,867 shares of the aerospace company’s stock valued at $349,000 after purchasing an additional 996 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new position in shares of AAR during the 3rd quarter worth $1,190,000. Finally, Qube Research & Technologies Ltd lifted its position in shares of AAR by 39.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 40,800 shares of the aerospace company’s stock worth $2,429,000 after buying an additional 11,445 shares during the last quarter. 90.74% of the stock is owned by institutional investors.

AAR Stock Performance

AAR stock opened at $68.97 on Thursday. The business has a 50 day moving average of $63.70 and a 200-day moving average of $63.58. The company has a market capitalization of $2.44 billion, a P/E ratio of 40.57 and a beta of 1.67. AAR Corp. has a 1 year low of $50.06 and a 1 year high of $73.95. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.90 and a quick ratio of 1.33.

AAR (NYSE:AIR) last announced its quarterly earnings results on Thursday, March 21st. The aerospace company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.01. AAR had a net margin of 2.73% and a return on equity of 10.17%. On average, equities research analysts predict that AAR Corp. will post 3.3 earnings per share for the current year.

Insider Activity at AAR

In other AAR news, CEO John Mcclain Holmes III sold 29,250 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $60.21, for a total value of $1,761,142.50. Following the sale, the chief executive officer now owns 303,621 shares in the company, valued at approximately $18,281,020.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Jessica A. Garascia sold 7,352 shares of the stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $63.37, for a total transaction of $465,896.24. Following the completion of the sale, the chief accounting officer now directly owns 28,165 shares in the company, valued at $1,784,816.05. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO John Mcclain Holmes III sold 29,250 shares of AAR stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $60.21, for a total transaction of $1,761,142.50. Following the transaction, the chief executive officer now directly owns 303,621 shares of the company’s stock, valued at approximately $18,281,020.41. The disclosure for this sale can be found here. Insiders sold 64,747 shares of company stock worth $3,858,323 over the last three months. Company insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AIR. Royal Bank of Canada reiterated an “outperform” rating and issued a $80.00 target price on shares of AAR in a research report on Friday, March 22nd. Benchmark lifted their price target on shares of AAR from $65.00 to $83.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, William Blair began coverage on shares of AAR in a research report on Monday, January 29th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, AAR has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

About AAR

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. It operates through Aviation Services and Expeditionary Services segments. The Aviation Services segment engages in lease and sale of new, overhauled and repaired engine, and airframe parts and components, as well as aircrafts; and offers customized flight hour component inventory and repair, warranty claim management, and outsourcing programs for engine and airframe parts and components.