Oppenheimer Asset Management Inc. Takes $3.63 Million Position in AAR Corp. $AIR

Oppenheimer Asset Management Inc. purchased a new stake in AAR Corp. (NYSE:AIR) during the second quarter, according to its most recent filing with the SEC. The firm purchased 25,399 shares of the aerospace company’s stock, valued at approximately $3,630,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in AAR by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company’s stock valued at $1,163,000 after purchasing an additional 904 shares in the last quarter. Millennium Management LLC increased its position in shares of AAR by 35.8% in the 1st quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company’s stock valued at $7,557,000 after buying an additional 35,608 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of AAR by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,384 shares of the aerospace company’s stock valued at $5,453,000 after buying an additional 4,288 shares in the last quarter. State Street Corp increased its position in shares of AAR by 10.9% in the 2nd quarter. State Street Corp now owns 1,917,821 shares of the aerospace company’s stock valued at $131,927,000 after buying an additional 188,406 shares in the last quarter. Finally, Sei Investments Co. raised its stake in AAR by 4.2% during the 2nd quarter. Sei Investments Co. now owns 265,375 shares of the aerospace company’s stock worth $18,255,000 after buying an additional 10,725 shares during the period. Institutional investors own 90.74% of the company’s stock.

AAR Price Performance

NYSE:AIR opened at $145.67 on Friday. The stock has a market capitalization of $5.81 billion, a PE ratio of 30.16 and a beta of 1.11. AAR Corp. has a 1-year low of $71.67 and a 1-year high of $154.00. The firm has a fifty day simple moving average of $136.57 and a 200 day simple moving average of $120.59. 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 posted its quarterly earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $893.03 million. During the same period in the prior year, the firm posted $1.16 earnings per share. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. On average, research analysts expect that AAR Corp. will post 5.92 EPS for the current fiscal year.

Analyst Ratings Changes

AIR has been the topic of several recent analyst reports. Jefferies Financial Group lifted their target price on AAR from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. KeyCorp reaffirmed a “sector weight” rating on shares of AAR in a research report on Wednesday, July 22nd. Zacks Research upgraded AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Truist Financial boosted their price objective on AAR from $128.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Finally, Wall Street Zen cut AAR from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $135.60.

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.