Oliver Luxxe Assets LLC Sells 15,007 Shares of AAR Corp. $AIR

Oliver Luxxe Assets LLC reduced its holdings in AAR Corp. (NYSE:AIR) by 38.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,349 shares of the aerospace company’s stock after selling 15,007 shares during the period. Oliver Luxxe Assets LLC’s holdings in AAR were worth $3,480,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in shares of AAR by 144.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,486,775 shares of the aerospace company’s stock worth $133,319,000 after buying an additional 878,188 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of AAR by 297.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 594,668 shares of the aerospace company’s stock valued at $49,233,000 after acquiring an additional 445,026 shares during the last quarter. UBS Group AG raised its holdings in AAR by 709.2% during the third quarter. UBS Group AG now owns 488,239 shares of the aerospace company’s stock worth $43,780,000 after acquiring an additional 427,906 shares in the last quarter. State Street Corp boosted its position in AAR by 17.1% during the fourth quarter. State Street Corp now owns 2,320,927 shares of the aerospace company’s stock valued at $192,150,000 after purchasing an additional 339,595 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in AAR by 36.9% during the third quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company’s stock valued at $107,752,000 after purchasing an additional 311,258 shares during the last quarter. 90.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Weiss Ratings upgraded AAR from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 23rd. Zacks Research upgraded AAR from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Wall Street Zen downgraded AAR from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Truist Financial raised their target price on shares of AAR from $128.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Finally, Jefferies Financial Group boosted their target price on shares of AAR from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. 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’s stock. Based on data from MarketBeat.com, AAR presently has an average rating of “Moderate Buy” and a consensus target price of $135.60.

AAR Stock Down 2.4%

AIR opened at $142.90 on Friday. The stock’s fifty day simple moving average is $133.36 and its 200 day simple moving average is $119.21. AAR Corp. has a 1-year low of $71.67 and a 1-year high of $154.00. The stock has a market cap of $5.70 billion, a PE ratio of 29.59 and a beta of 1.11. 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 (NYSE:AIR) last released its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $1.53 EPS for the quarter, topping 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 analysts’ expectations of $893.03 million. During the same period in the previous year, the business posted $1.16 earnings per share. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. As a group, research analysts expect that AAR Corp. will post 5.92 earnings per share for the current 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.