AAR Corp. $AIR Stock: State of Alaska Department of Revenue Lowers Position

State of Alaska Department of Revenue decreased its stake in AAR Corp. (NYSE:AIR) by 42.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,517 shares of the aerospace company’s stock after selling 6,192 shares during the quarter. State of Alaska Department of Revenue’s holdings in AAR were worth $863,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in AAR by 35.0% during the third quarter. GAMMA Investing LLC now owns 1,554 shares of the aerospace company’s stock valued at $158,000 after acquiring an additional 403 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in AAR by 191.2% in the third quarter. Farther Finance Advisors LLC now owns 495 shares of the aerospace company’s stock valued at $50,000 after acquiring an additional 325 shares during the period. Artemis Investment Management LLP boosted its position in 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 purchasing an additional 209,477 shares in the last quarter. Byrne Asset Management LLC purchased a new stake in AAR in the 3rd quarter worth approximately $154,000. Finally, QRG Capital Management Inc. boosted its position in AAR by 8.3% in the 2nd quarter. QRG Capital Management Inc. now owns 2,846 shares of the aerospace company’s stock worth $407,000 after purchasing an additional 218 shares in the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AIR shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $145.00 price objective on shares of AAR in a research note on Monday, September 28th. Truist Financial boosted 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. KeyCorp reiterated a “sector weight” rating on shares of AAR in a research note on Wednesday, July 22nd. Weiss Ratings downgraded shares of AAR from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, September 25th. Finally, Guggenheim restated a “neutral” rating on shares of AAR in a research report on Tuesday, September 29th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $140.60.

AAR Price Performance

NYSE:AIR opened at $99.58 on Thursday. The company has a quick ratio of 1.28, a current ratio of 2.83 and a debt-to-equity ratio of 0.50. AAR Corp. has a 52 week low of $76.10 and a 52 week high of $154.00. The stock’s 50-day moving average price is $118.63 and its 200-day moving average price is $123.00. The stock has a market capitalization of $4.00 billion, a PE ratio of 20.41 and a beta of 1.13.

AAR (NYSE:AIR) last released its quarterly earnings results on Monday, September 28th. The aerospace company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.19. The company had revenue of $918.00 million during the quarter, compared to analysts’ expectations of $878.81 million. AAR had a return on equity of 12.99% and a net margin of 5.55%. AAR’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 EPS. As a group, equities analysts expect that AAR Corp. will post 5.89 EPS for the current fiscal year.

AAR Company Profile

AAR Corp. (NYSE: AIR) is a global aviation services company that provides products and support to commercial airlines, government agencies and defense customers. Its offerings include aircraft parts and supply-chain management, component repair and overhaul, airframe maintenance, engineering services, fleet management and expeditionary logistics.

The company operates through businesses that support the maintenance and operation of aircraft throughout their life cycles. AAR distributes aviation parts and manages inventory, performs maintenance, repair and overhaul services for airframes and aircraft components, and provides logistics and aftermarket support for commercial and government fleets.

Founded in 1955, AAR is headquartered in Wood Dale, Illinois, and serves customers across North America and international markets.