The Manufacturers Life Insurance Company Buys Shares of 20,910 AAR Corp. $AIR

The Manufacturers Life Insurance Company acquired a new position in shares of AAR Corp. (NYSE:AIR) during the second quarter, HoldingsChannel reports. The fund acquired 20,910 shares of the aerospace company’s stock, valued at approximately $2,989,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AIR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of AAR by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company’s stock worth $1,163,000 after acquiring an additional 904 shares in the last quarter. Millennium Management LLC boosted its position in 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 purchasing an additional 35,608 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in AAR by 4.6% in 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 valued at $5,453,000 after purchasing an additional 4,288 shares during the last quarter. State Street Corp grew its holdings in AAR by 10.9% in the second quarter. State Street Corp now owns 1,917,821 shares of the aerospace company’s stock valued at $131,927,000 after purchasing an additional 188,406 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of AAR by 4.2% in the second quarter. Sei Investments Co. now owns 265,375 shares of the aerospace company’s stock valued at $18,255,000 after buying an additional 10,725 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.

AAR Stock Performance

NYSE AIR opened at $124.19 on Wednesday. The business’s 50-day moving average price is $138.58 and its 200 day moving average price is $123.04. The company has a current ratio of 2.84, a quick ratio of 1.24 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 company has a market capitalization of $4.95 billion, a PE ratio of 25.71 and a beta of 1.11.

AAR (NYSE:AIR) last released its earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $928.00 million during the quarter, compared to the consensus estimate of $893.03 million. During the same period in the previous year, the firm earned $1.16 earnings per share. AAR’s revenue was up 23.0% compared to the same quarter last year. On average, research analysts predict that AAR Corp. will post 5.92 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AIR. Zacks Research raised shares of AAR from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Jefferies Financial Group upped their price target on shares of AAR from $150.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Truist Financial upped their price target on shares of AAR from $128.00 to $145.00 and gave the company a “buy” rating in a report on Monday, July 27th. KeyCorp reiterated a “sector weight” rating on shares of AAR in a research report on Wednesday, July 22nd. Finally, Wall Street Zen cut shares of AAR from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One research 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.