Gabelli Funds LLC Lowers Holdings in AAR Corp. $AIR

Gabelli Funds LLC trimmed its holdings in AAR Corp. (NYSE:AIR) by 11.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,548 shares of the aerospace company’s stock after selling 9,042 shares during the quarter. Gabelli Funds LLC owned approximately 0.17% of AAR worth $7,394,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of AAR by 4.5% during the first 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 boosted its position 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 acquiring an additional 35,608 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position 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 acquiring an additional 4,288 shares during the last quarter. State Street Corp grew its stake in AAR by 10.9% during 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 in the last quarter. Finally, Sei Investments Co. increased its holdings in AAR by 4.2% in the 2nd quarter. Sei Investments Co. now owns 265,375 shares of the aerospace company’s stock valued at $18,255,000 after acquiring an additional 10,725 shares during the last quarter. 90.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. KeyCorp reiterated a “sector weight” rating on shares of AAR in a research note on Wednesday, July 22nd. Jefferies Financial Group raised their price objective on AAR from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Wall Street Zen cut AAR from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. Truist Financial boosted their target price on AAR from $128.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Zacks Research raised AAR from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. 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. According to data from MarketBeat.com, AAR has a consensus rating of “Moderate Buy” and a consensus price target of $135.60.

AAR Price Performance

AAR stock opened at $136.87 on Tuesday. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 28.34 and a beta of 1.09. The firm’s fifty day moving average is $127.40 and its 200 day moving average is $116.57. 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 52-week low of $71.43 and a 52-week high of $146.75.

AAR (NYSE:AIR) last issued its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $893.03 million. During the same period last year, the company posted $1.16 EPS. The business’s revenue was up 23.0% on a year-over-year basis. Sell-side analysts forecast that AAR Corp. will post 5.91 EPS for the current fiscal year.

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.