Globeflex Capital L P Buys New Position in AAR Corp. $AIR

Globeflex Capital L P bought a new stake in shares of AAR Corp. (NYSE:AIR) in the 4th quarter, Holdings Channel.com reports. The firm bought 16,862 shares of the aerospace company’s stock, valued at approximately $1,396,000.

Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in AAR by 61.0% during the third quarter. JPMorgan Chase & Co. now owns 91,520 shares of the aerospace company’s stock valued at $8,207,000 after buying an additional 34,689 shares in the last quarter. Principal Financial Group Inc. boosted its stake in AAR by 35.2% during the third quarter. Principal Financial Group Inc. now owns 640,707 shares of the aerospace company’s stock valued at $57,452,000 after buying an additional 166,903 shares in the last quarter. Prescott Group Capital Management L.L.C. bought a new position in AAR during the third quarter valued at about $1,793,000. Intech Investment Management LLC boosted its stake in AAR by 480.4% during the third quarter. Intech Investment Management LLC now owns 155,987 shares of the aerospace company’s stock valued at $13,987,000 after buying an additional 129,113 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in AAR by 7.5% during the fourth quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company’s stock valued at $336,229,000 after buying an additional 281,871 shares in the last quarter. Institutional investors own 90.74% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AIR. Wall Street Zen cut AAR from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Jefferies Financial Group increased their price target on AAR to $150.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Truist Financial upgraded AAR to a “strong-buy” rating in a research report on Friday, May 1st. KeyCorp increased their price target on AAR from $120.00 to $132.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Finally, Royal Bank Of Canada increased their price target on AAR from $105.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.20.

AAR Trading Up 3.5%

NYSE:AIR opened at $115.23 on Friday. The company has a quick ratio of 1.23, a current ratio of 2.70 and a debt-to-equity ratio of 0.54. AAR Corp. has a 1-year low of $64.99 and a 1-year high of $127.21. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 25.55 and a beta of 1.13. The stock has a fifty day simple moving average of $112.97 and a 200 day simple moving average of $103.38.

AAR (NYSE:AIR) last released its quarterly earnings results on Tuesday, March 24th. The aerospace company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. AAR had a return on equity of 12.39% and a net margin of 5.46%.The business had revenue of $845.10 million during the quarter, compared to analyst estimates of $812.58 million. During the same quarter last year, the company posted $0.99 EPS. AAR’s revenue for the quarter was up 24.6% on a year-over-year basis. Sell-side analysts forecast that AAR Corp. will post 4.97 earnings per share for the current year.

Insider Transactions at AAR

In related news, CEO John Mcclain Holmes III sold 26,175 shares of the stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $107.60, for a total value of $2,816,430.00. Following the completion of the sale, the chief executive officer directly owned 235,064 shares of the company’s stock, valued at approximately $25,292,886.40. This represents a 10.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.60% of the company’s stock.

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.