Globeflex Capital L P Takes $2.51 Million Position in AAR Corp. $AIR

Globeflex Capital L P bought a new position in AAR Corp. (NYSE:AIR) during the second quarter, Holdings Channel reports. The firm bought 17,531 shares of the aerospace company’s stock, valued at approximately $2,506,000.

Several other institutional investors also recently bought and sold shares of AIR. BlackRock Inc. acquired a new position in AAR in the second quarter valued at approximately $925,068,000. Vanguard Group Inc. increased its holdings in shares of AAR by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company’s stock valued at $336,229,000 after purchasing an additional 281,871 shares in the last quarter. State Street Corp lifted its stake in shares of AAR by 17.1% in the 4th quarter. State Street Corp now owns 2,320,927 shares of the aerospace company’s stock valued at $192,150,000 after purchasing an additional 339,595 shares during the period. Wellington Management Group LLP lifted its stake in shares of AAR by 17.4% in the 4th quarter. Wellington Management Group LLP now owns 1,745,352 shares of the aerospace company’s stock valued at $144,498,000 after purchasing an additional 258,577 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in AAR by 36.9% during the third quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company’s stock worth $107,752,000 after buying an additional 311,258 shares in the last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

AAR Price Performance

Shares of NYSE AIR opened at $134.15 on Monday. The firm has a market cap of $5.35 billion, a PE ratio of 27.77 and a beta of 1.11. The firm has a fifty day moving average of $138.58 and a 200 day moving average of $121.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.24 and a current ratio of 2.84. AAR Corp. has a one year low of $72.00 and a one year high of $154.00.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of AAR from $150.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Weiss Ratings upgraded AAR from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Truist Financial lifted their price target on AAR from $128.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, July 27th. KeyCorp reaffirmed a “sector weight” rating on shares of AAR in a report on Wednesday, July 22nd. Finally, Wall Street Zen downgraded AAR from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. One 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $135.60.

About AAR

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.