Gabelli Funds LLC Reduces Stock Holdings in AAR Corp. $AIR

Gabelli Funds LLC lowered its stake in shares of AAR Corp. (NYSE:AIR) by 11.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 67,548 shares of the aerospace company’s stock after selling 9,042 shares during the quarter. Gabelli Funds LLC’s holdings in AAR were worth $7,394,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lido Advisors LLC boosted its stake in AAR by 2.8% during the fourth quarter. Lido Advisors LLC now owns 3,618 shares of the aerospace company’s stock worth $318,000 after buying an additional 98 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of AAR by 12.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,162 shares of the aerospace company’s stock valued at $97,000 after acquiring an additional 126 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of AAR by 1.7% in the first quarter. PNC Financial Services Group Inc. now owns 8,073 shares of the aerospace company’s stock valued at $884,000 after acquiring an additional 132 shares during the period. CWM LLC raised its stake in shares of AAR by 19.3% in the fourth quarter. CWM LLC now owns 950 shares of the aerospace company’s stock valued at $79,000 after acquiring an additional 154 shares during the period. Finally, Assetmark Inc. lifted its holdings in shares of AAR by 10.7% in the 1st quarter. Assetmark Inc. now owns 1,606 shares of the aerospace company’s stock worth $176,000 after acquiring an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.

AAR Trading Up 6.1%

NYSE AIR opened at $136.87 on Tuesday. The stock has a market cap of $5.46 billion, a PE ratio of 28.34 and a beta of 1.09. AAR Corp. has a 12 month low of $71.43 and a 12 month high of $146.75. The company’s 50-day moving average price is $127.40 and its 200-day moving average price is $116.57. 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 announced its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.15. The company had revenue of $928.00 million during the quarter, compared to analyst estimates of $893.03 million. AAR had a net margin of 5.67% and a return on equity of 12.67%. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. Equities research analysts forecast that AAR Corp. will post 5.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AIR has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of AAR from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 14th. KeyCorp reissued a “sector weight” rating on shares of AAR in a research report on Wednesday, July 22nd. Jefferies Financial Group raised their price objective on shares of AAR from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Zacks Research upgraded AAR from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Finally, Weiss Ratings raised AAR from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.