8,525 AAR Corp. $AIR Shares Bought by New England Research & Management Inc.

New England Research & Management Inc. grew its position in shares of AAR Corp. (NYSE:AIR) by 79.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,225 shares of the aerospace company’s stock after buying an additional 8,525 shares during the quarter. New England Research & Management Inc.’s holdings in AAR were worth $1,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in AIR. BlackRock Inc. acquired a new stake in AAR in the second quarter valued at approximately $925,068,000. Principal Financial Group Inc. increased its stake in shares of AAR by 4.9% during the 1st quarter. Principal Financial Group Inc. now owns 675,686 shares of the aerospace company’s stock worth $73,961,000 after purchasing an additional 31,583 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of AAR during the 2nd quarter worth $84,251,000. Emerald Advisers LLC raised its holdings in shares of AAR by 6.3% during the 1st quarter. Emerald Advisers LLC now owns 445,693 shares of the aerospace company’s stock valued at $48,786,000 after purchasing an additional 26,223 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its holdings in shares of AAR by 10.9% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 280,257 shares of the aerospace company’s stock valued at $30,677,000 after purchasing an additional 27,485 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Stock Performance

AIR stock traded up $0.55 during midday trading on Friday, hitting $98.53. 537,713 shares of the company traded hands, compared to its average volume of 738,763. AAR Corp. has a twelve month low of $76.10 and a twelve month high of $154.00. The company has a quick ratio of 1.28, a current ratio of 2.83 and a debt-to-equity ratio of 0.50. The business has a 50 day simple moving average of $121.40 and a 200-day simple moving average of $123.09. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 20.19 and a beta of 1.13.

AAR (NYSE:AIR) last issued its quarterly earnings data on Monday, September 28th. The aerospace company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.19. The business had revenue of $918.00 million during the quarter, compared to analysts’ expectations of $878.81 million. AAR had a net margin of 5.55% and a return on equity of 12.99%. AAR’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.08 earnings per share. As a group, equities research analysts predict that AAR Corp. will post 5.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AIR. Truist Financial upped their price objective on shares of AAR from $128.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Weiss Ratings downgraded shares of AAR from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 25th. Wall Street Zen upgraded AAR from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. KeyCorp reaffirmed a “sector weight” rating on shares of AAR in a research report on Wednesday, July 22nd. Finally, Zacks Research cut AAR from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.60.

About AAR

AAR Corp. is a global aviation services company headquartered in Wood Dale, Illinois. The company supports commercial airlines, government and defense organizations, and original equipment manufacturers through aftermarket aviation products and services.

AAR’s aviation activities include the distribution and sale of aircraft parts, maintenance, repair and overhaul services, component repair, engineering support, and supply-chain management. Its parts and services support a range of commercial, government, and military aircraft, helping customers maintain aircraft availability and operational readiness.

The company also provides expeditionary and mobility-related products and services for government customers, including systems and equipment used to support transportation and logistics operations.