Munro Partners Takes $8.97 Million Position in AAR Corp. $AIR

Munro Partners acquired a new stake in shares of AAR Corp. (NYSE:AIR) during the fourth quarter, HoldingsChannel reports. The fund acquired 108,295 shares of the aerospace company’s stock, valued at approximately $8,966,000.

A number of other large investors have also recently made changes to their positions in the stock. Lido Advisors LLC raised its stake in AAR by 2.8% during the 4th quarter. Lido Advisors LLC now owns 3,618 shares of the aerospace company’s stock valued at $318,000 after purchasing an additional 98 shares during the period. Smartleaf Asset Management LLC raised its stake in AAR by 12.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,162 shares of the aerospace company’s stock valued at $97,000 after purchasing an additional 126 shares during the period. CWM LLC raised its stake in AAR by 19.3% during the 4th quarter. CWM LLC now owns 950 shares of the aerospace company’s stock valued at $79,000 after purchasing an additional 154 shares during the period. Police & Firemen s Retirement System of New Jersey raised its stake in AAR by 2.2% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 10,106 shares of the aerospace company’s stock valued at $837,000 after purchasing an additional 218 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in AAR by 1.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 17,964 shares of the aerospace company’s stock valued at $1,487,000 after purchasing an additional 257 shares during the period. 90.74% of the stock is owned by hedge funds and other institutional investors.

AAR Stock Performance

NYSE:AIR opened at $131.46 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.70 and a quick ratio of 1.23. AAR Corp. has a 1 year low of $66.68 and a 1 year high of $134.74. The stock’s 50 day simple moving average is $114.68 and its two-hundred day simple moving average is $105.52. The company has a market cap of $5.23 billion, a price-to-earnings ratio of 29.15 and a beta of 1.13.

AAR (NYSE:AIR) last released its quarterly earnings data on Tuesday, March 24th. The aerospace company reported $1.25 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $812.58 million. During the same quarter in the previous year, the company posted $0.99 EPS. The company’s revenue was up 24.6% compared to the same quarter last year. As a group, equities analysts anticipate that AAR Corp. will post 4.97 earnings per share for the current fiscal year.

Insider Transactions at AAR

In other AAR news, CEO John Mcclain Holmes III sold 26,175 shares of AAR stock in a transaction that occurred on 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 sale, the chief executive officer owned 235,064 shares of the company’s stock, valued at $25,292,886.40. The trade was a 10.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AIR has been the topic of several recent analyst reports. Weiss Ratings downgraded AAR from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 29th. Wall Street Zen downgraded AAR from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Jefferies Financial Group lifted their target price on AAR to $150.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Truist Financial raised AAR to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Royal Bank Of Canada lifted their target price on AAR from $105.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $131.20.

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.