Regal Partners Ltd Takes Position in AAR Corp. $AIR

Regal Partners Ltd acquired a new position in AAR Corp. (NYSE:AIR) during the first quarter, Holdings Channel reports. The institutional investor acquired 4,604 shares of the aerospace company’s stock, valued at approximately $504,000.

Several other large investors have also made changes to their positions in AIR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in AAR by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company’s stock valued at $1,163,000 after buying an additional 904 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of AAR by 35.8% during the first quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company’s stock worth $7,557,000 after buying an additional 35,608 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of AAR by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,384 shares of the aerospace company’s stock worth $5,453,000 after buying an additional 4,288 shares during the last quarter. State Street Corp boosted its position in shares of AAR by 10.9% in the second quarter. State Street Corp now owns 1,917,821 shares of the aerospace company’s stock valued at $131,927,000 after acquiring an additional 188,406 shares during the period. Finally, Sei Investments Co. grew its stake in shares of AAR by 4.2% in the second quarter. Sei Investments Co. now owns 265,375 shares of the aerospace company’s stock worth $18,255,000 after acquiring an additional 10,725 shares during the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Stock Performance

AIR opened at $140.98 on Wednesday. The stock’s 50 day simple moving average is $128.20 and its 200-day simple moving average is $116.92. The company has a current ratio of 2.84, a quick ratio of 1.24 and a debt-to-equity ratio of 0.52. The stock has a market cap of $5.62 billion, a PE ratio of 29.19 and a beta of 1.09. AAR Corp. has a 1 year low of $71.43 and a 1 year high of $146.75.

AAR (NYSE:AIR) last issued its earnings results on Tuesday, July 21st. The aerospace company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.38 by $0.15. AAR had a return on equity of 12.67% and a net margin of 5.67%.The firm had revenue of $928.00 million during the quarter, compared to analysts’ expectations of $893.03 million. During the same period last year, the business earned $1.16 earnings per share. AAR’s quarterly revenue was up 23.0% compared to the same quarter last year. Sell-side analysts forecast that AAR Corp. will post 5.91 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AIR shares. Wall Street Zen lowered shares of AAR from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 14th. Zacks Research raised shares of AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Jefferies Financial Group raised their price target on shares of AAR from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Truist Financial boosted their price objective on shares of AAR from $128.00 to $145.00 and gave the stock a “buy” rating in a report on Monday. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of AAR in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $135.60.

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.