Great Lakes Advisors LLC Buys New Stake in AAR Corp. $AIR

Great Lakes Advisors LLC acquired a new position in shares of AAR Corp. (NYSE:AIR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 31,790 shares of the aerospace company’s stock, valued at approximately $4,544,000. Great Lakes Advisors LLC owned approximately 0.08% of AAR at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of AAR by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company’s stock valued at $336,229,000 after purchasing an additional 281,871 shares during the period. First Eagle Investment Management LLC grew its stake in shares of AAR by 22.5% during the 4th quarter. First Eagle Investment Management LLC now owns 61,619 shares of the aerospace company’s stock worth $5,101,000 after purchasing an additional 11,300 shares during the period. Artemis Investment Management LLP purchased a new position in shares of AAR in the 4th quarter valued at about $1,230,000. Oppenheimer Asset Management Inc. purchased a new position in shares of AAR in the 2nd quarter valued at about $3,630,000. Finally, First Trust Advisors LP lifted its stake in shares of AAR by 20.4% in the first quarter. First Trust Advisors LP now owns 90,749 shares of the aerospace company’s stock valued at $9,933,000 after purchasing an additional 15,345 shares during the period. 90.74% of the stock is owned by institutional investors and hedge funds.

AAR Stock Performance

NYSE AIR opened at $139.29 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.84 and a quick ratio of 1.24. AAR Corp. has a 1-year low of $71.67 and a 1-year high of $154.00. The business’s 50-day simple moving average is $138.36 and its 200-day simple moving average is $121.58. The firm has a market capitalization of $5.56 billion, a P/E ratio of 28.84 and a beta of 1.11.

AAR (NYSE:AIR) last released its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.15. AAR had a net margin of 5.67% and a return on equity of 12.67%. The company had revenue of $928.00 million during the quarter, compared to analyst estimates of $893.03 million. During the same quarter in the prior year, the business earned $1.16 earnings per share. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. Equities analysts predict that AAR Corp. will post 5.92 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Truist Financial boosted 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. Wall Street Zen downgraded shares of AAR from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. KeyCorp reissued a “sector weight” rating on shares of AAR in a research note on Wednesday, July 22nd. Jefferies Financial Group boosted their price objective on shares of AAR from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings upgraded AAR from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.