Legal & General Group Plc Takes $13.71 Million Position in AAR Corp. $AIR

Legal & General Group Plc acquired a new position in shares of AAR Corp. (NYSE:AIR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 95,913 shares of the aerospace company’s stock, valued at approximately $13,709,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake 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 fourth quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company’s stock worth $336,229,000 after buying 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 acquiring an additional 339,595 shares during the last quarter. 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 acquiring an additional 258,577 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of AAR by 36.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company’s stock valued at $107,752,000 after acquiring an additional 311,258 shares in the last quarter. Institutional investors own 90.74% of the company’s stock.

AAR Stock Performance

Shares of AAR stock opened at $133.36 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 twelve month low of $73.05 and a twelve month high of $154.00. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of 27.61 and a beta of 1.11. The company’s fifty day moving average is $138.84 and its 200 day moving average is $122.85.

AAR (NYSE:AIR) last announced its earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.15. The business had revenue of $928.00 million during the quarter, compared to analyst estimates of $893.03 million. AAR had a return on equity of 12.67% and a net margin of 5.67%.AAR’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period last year, the company earned $1.16 EPS. Sell-side analysts forecast that AAR Corp. will post 5.92 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AIR shares. Truist Financial boosted their price objective on AAR from $128.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Weiss Ratings upgraded AAR from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Jefferies Financial Group lifted their price target on AAR from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. KeyCorp restated a “sector weight” rating on shares of AAR in a report on Wednesday, July 22nd. Finally, Zacks Research raised AAR from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.