Corient Private Wealth LP Purchases New Stake in AAR Corp. $AIR

Corient Private Wealth LP purchased a new position in AAR Corp. (NYSE:AIR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 37,837 shares of the aerospace company’s stock, valued at approximately $5,408,000.

Several other hedge funds have also made changes to their positions in AIR. BlackRock Inc. bought a new stake in AAR in the second quarter valued at $925,068,000. Vanguard Group Inc. lifted its stake in shares of AAR by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company’s stock worth $336,229,000 after acquiring an additional 281,871 shares during the period. State Street Corp boosted its holdings in shares of AAR by 17.1% in the fourth 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 in the last quarter. Wellington Management Group LLP increased its stake in shares of AAR by 17.4% during the fourth 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 period. Finally, Franklin Resources Inc. raised 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 purchasing an additional 311,258 shares in the last quarter. Institutional investors own 90.74% of the company’s stock.

AAR Stock Down 3.0%

AIR stock opened at $129.26 on Tuesday. The firm has a market cap of $5.16 billion, a PE ratio of 26.76 and a beta of 1.11. AAR Corp. has a 12 month low of $73.05 and a 12 month high of $154.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.84 and a quick ratio of 1.24. The firm has a 50 day simple moving average of $138.73 and a 200 day simple moving average of $122.96.

AAR (NYSE:AIR) last posted its quarterly 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 firm had revenue of $928.00 million for the quarter, compared to analyst estimates of $893.03 million. AAR had a net margin of 5.67% and a return on equity of 12.67%. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.16 earnings per share. Equities research analysts forecast that AAR Corp. will post 5.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AIR shares. Wall Street Zen lowered AAR from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings raised AAR from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 23rd. Truist Financial upped their price objective on AAR from $128.00 to $145.00 and gave the company a “buy” rating in a report on Monday, July 27th. KeyCorp reaffirmed a “sector weight” rating on shares of AAR in a research note on Wednesday, July 22nd. Finally, Zacks Research raised AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. One investment 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 company’s stock. Based on data from MarketBeat, AAR 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.