31,790 Shares in AAR Corp. $AIR Purchased by Great Lakes Advisors LLC

Great Lakes Advisors LLC purchased a new position in shares of AAR Corp. (NYSE:AIR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 31,790 shares of the aerospace company’s stock, valued at approximately $4,544,000.

Other hedge funds have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. acquired a new position in AAR during the 1st quarter valued at about $25,000. McMillan Office Inc. acquired a new stake in shares of AAR in the fourth quarter valued at approximately $25,000. Osterweis Capital Management Inc. acquired a new stake in shares of AAR in the second quarter valued at approximately $26,000. Morse Asset Management Inc bought a new stake in shares of AAR during the third quarter valued at approximately $27,000. Finally, NBC Securities Inc. bought a new stake in shares of AAR during the fourth quarter valued at approximately $28,000. 90.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AIR has been the topic of several analyst reports. KeyCorp restated a “sector weight” rating on shares of AAR in a research report on Wednesday, July 22nd. Truist Financial increased their price target on AAR from $128.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Weiss Ratings raised AAR from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. Zacks Research raised AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. 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 equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, AAR has a consensus rating of “Moderate Buy” and an average price target of $135.60.

AAR Trading Down 6.5%

Shares of AIR stock opened at $139.29 on Thursday. The stock has a 50-day simple moving average of $138.36 and a 200 day simple moving average of $121.58. AAR Corp. has a fifty-two week low of $71.67 and a fifty-two week high of $154.00. The stock has a market capitalization of $5.56 billion, a P/E ratio of 28.84 and a beta of 1.11. 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 (NYSE:AIR) last released its earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.15. AAR had a return on equity of 12.67% and a net margin of 5.67%.The firm had revenue of $928.00 million for the quarter, compared to analyst estimates of $893.03 million. During the same period in the previous year, the company earned $1.16 earnings per share. AAR’s revenue was up 23.0% compared to the same quarter last year. On average, sell-side analysts expect that AAR Corp. will post 5.92 earnings per share for the current fiscal year.

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.