Gamco Investors INC. ET AL Has $24.86 Million Stock Position in AAR Corp. $AIR

Gamco Investors INC. ET AL lowered its stake in shares of AAR Corp. (NYSE:AIR) by 5.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 227,165 shares of the aerospace company’s stock after selling 14,050 shares during the period. Gamco Investors INC. ET AL’s holdings in AAR were worth $24,865,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of AAR by 61.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 91,520 shares of the aerospace company’s stock valued at $8,207,000 after purchasing an additional 34,689 shares during the period. Vanguard Group Inc. raised its stake in 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 buying an additional 281,871 shares during the period. First Eagle Investment Management LLC lifted its position in shares of AAR by 22.5% in the fourth quarter. First Eagle Investment Management LLC now owns 61,619 shares of the aerospace company’s stock valued at $5,101,000 after buying an additional 11,300 shares during the last quarter. Artemis Investment Management LLP bought a new position in shares of AAR during the 4th quarter worth approximately $1,230,000. Finally, Wealth Enhancement Trust Services Inc. acquired a new position in shares of AAR during the 4th quarter worth approximately $1,416,000. 90.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on AIR. Truist Financial raised shares of AAR to a “strong-buy” rating in a research report on Friday, May 1st. Zacks Research raised shares of AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Jefferies Financial Group increased their price target on shares of AAR from $150.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Wall Street Zen cut AAR from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. Finally, KeyCorp reiterated a “sector weight” rating on shares of AAR in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $132.20.

AAR Stock Down 0.5%

Shares of AIR opened at $128.86 on Friday. The company has a current ratio of 2.84, a quick ratio of 1.23 and a debt-to-equity ratio of 0.52. AAR Corp. has a 12 month low of $71.43 and a 12 month high of $146.75. The firm’s 50 day moving average is $126.74 and its 200-day moving average is $116.05. The stock has a market capitalization of $5.14 billion, a PE ratio of 26.68 and a beta of 1.09.

AAR (NYSE:AIR) last issued its quarterly 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 business had revenue of $928.00 million for the quarter, compared to the consensus estimate of $893.03 million. During the same quarter in the prior year, the business posted $1.16 earnings per share. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. Equities research analysts forecast that AAR Corp. will post 5.91 EPS for the current year.

AAR Profile

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.