Hennion & Walsh Asset Management Inc. Has $6.60 Million Stake in AAR Corp. $AIR

Hennion & Walsh Asset Management Inc. grew its position in AAR Corp. (NYSE:AIR) by 8.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,194 shares of the aerospace company’s stock after acquiring an additional 3,583 shares during the period. Hennion & Walsh Asset Management Inc. owned 0.12% of AAR worth $6,603,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of AIR. Wellington Management Group LLP increased its holdings in AAR by 144.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,486,775 shares of the aerospace company’s stock valued at $133,319,000 after purchasing an additional 878,188 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in AAR by 297.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 594,668 shares of the aerospace company’s stock worth $49,233,000 after purchasing an additional 445,026 shares in the last quarter. UBS Group AG boosted its stake in AAR by 709.2% in the third quarter. UBS Group AG now owns 488,239 shares of the aerospace company’s stock worth $43,780,000 after purchasing an additional 427,906 shares in the last quarter. State Street Corp grew its holdings in shares of AAR by 17.1% during the fourth quarter. State Street Corp now owns 2,320,927 shares of the aerospace company’s stock worth $192,150,000 after purchasing an additional 339,595 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of AAR by 36.9% in the third quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company’s stock valued at $107,752,000 after buying an additional 311,258 shares in the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AIR shares. Wall Street Zen downgraded shares of AAR from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. KeyCorp restated a “sector weight” rating on shares of AAR in a research report on Wednesday, July 22nd. Zacks Research raised shares of AAR from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Truist Financial increased their price target on shares of AAR from $128.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Finally, Weiss Ratings raised shares of AAR from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $135.60.

AAR Stock Down 0.1%

NYSE:AIR opened at $142.90 on Monday. The company has a quick ratio of 1.24, a current ratio of 2.84 and a debt-to-equity ratio of 0.52. AAR Corp. has a 12-month low of $71.67 and a 12-month high of $154.00. The stock’s fifty day simple moving average is $133.36 and its 200-day simple moving average is $119.31. The firm has a market capitalization of $5.70 billion, a P/E ratio of 29.59 and a beta of 1.11.

AAR (NYSE:AIR) last released its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.15. AAR had a return on equity of 12.67% and a net margin of 5.67%.The business had revenue of $928.00 million during the quarter, compared to the consensus estimate of $893.03 million. During the same quarter in the prior year, the company posted $1.16 earnings per share. The firm’s revenue was up 23.0% on a year-over-year basis. Equities research analysts expect that AAR Corp. will post 5.92 earnings per share for the current year.

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.