AAR Corp. $AIR Stock Acquired by New England Research & Management Inc.

New England Research & Management Inc. boosted its holdings in shares of AAR Corp. (NYSE:AIR) by 79.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,225 shares of the aerospace company’s stock after purchasing an additional 8,525 shares during the quarter. New England Research & Management Inc.’s holdings in AAR were worth $1,951,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in AAR during the second quarter worth about $925,068,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in AAR in the 2nd quarter valued at approximately $84,251,000. Bank of New York Mellon Corp acquired a new position in AAR in the 2nd quarter valued at approximately $39,024,000. Bank of America Corp DE acquired a new position in AAR in the 2nd quarter valued at approximately $33,649,000. Finally, Artemis Investment Management LLP lifted its position in shares of AAR by 1,031.6% in the 3rd quarter. Artemis Investment Management LLP now owns 229,783 shares of the aerospace company’s stock worth $23,316,000 after acquiring an additional 209,477 shares during the period. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Price Performance

Shares of AAR stock traded up $0.55 during trading on Friday, hitting $98.53. 537,713 shares of the company’s stock 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 debt-to-equity ratio of 0.50, a current ratio of 2.83 and a quick ratio of 1.28. The company has a market cap of $3.96 billion, a PE ratio of 20.19 and a beta of 1.13. The firm’s fifty day moving average price is $121.40 and its 200 day moving average price is $123.09.

AAR (NYSE:AIR) last announced its quarterly earnings results on Monday, September 28th. The aerospace company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.19. The firm 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%. The company’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.08 earnings per share. Analysts forecast that AAR Corp. will post 5.89 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wall Street Zen raised AAR from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. Zacks Research cut AAR from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Royal Bank Of Canada restated an “outperform” rating and issued a $145.00 target price on shares of AAR in a research note on Monday, September 28th. Truist Financial raised their target price on AAR from $128.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of AAR in a research report on Wednesday, July 22nd. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $140.60.

AAR Profile

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.