Envestnet Asset Management Inc. Acquires 1,732 Shares of AAR Corp. $AIR

Envestnet Asset Management Inc. increased its holdings in shares of AAR Corp. (NYSE:AIR) by 1.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 126,316 shares of the aerospace company’s stock after buying an additional 1,732 shares during the quarter. Envestnet Asset Management Inc.’s holdings in AAR were worth $8,689,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. R Squared Ltd bought a new position in AAR in the second quarter valued at about $206,000. Canal Insurance CO grew its holdings in shares of AAR by 31.9% during the second quarter. Canal Insurance CO now owns 95,000 shares of the aerospace company’s stock worth $6,535,000 after purchasing an additional 23,000 shares during the last quarter. Yousif Capital Management LLC grew its holdings in AAR by 3.6% during the 2nd quarter. Yousif Capital Management LLC now owns 13,157 shares of the aerospace company’s stock worth $905,000 after acquiring an additional 454 shares during the last quarter. Callan Family Office LLC acquired a new stake in AAR in the second quarter valued at $239,000. Finally, Blair William & Co. IL raised its position in shares of AAR by 15.0% during the second quarter. Blair William & Co. IL now owns 52,990 shares of the aerospace company’s stock worth $3,645,000 after acquiring an additional 6,893 shares during the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AIR has been the topic of several recent analyst reports. KeyCorp boosted their target price on shares of AAR from $86.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Zacks Research cut shares of AAR from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $85.00 target price on shares of AAR in a research report on Wednesday, September 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of AAR in a research note on Wednesday, October 8th. Finally, Truist Financial lifted their target price on shares of AAR from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.33.

Insider Buying and Selling

In related news, CEO John Mcclain Holmes III sold 38,462 shares of AAR stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $83.50, for a total value of $3,211,577.00. Following the transaction, the chief executive officer owned 260,141 shares in the company, valued at $21,721,773.50. This trade represents a 12.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.60% of the stock is currently owned by insiders.

AAR Trading Up 0.3%

Shares of AAR stock opened at $82.46 on Monday. AAR Corp. has a 1 year low of $46.51 and a 1 year high of $89.69. The company has a 50 day simple moving average of $80.96 and a two-hundred day simple moving average of $72.97. The firm has a market cap of $3.23 billion, a PE ratio of 105.71 and a beta of 1.53. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.91 and a quick ratio of 1.31.

AAR (NYSE:AIR) last issued its quarterly earnings results on Wednesday, May 28th. The aerospace company reported $0.83 earnings per share (EPS) for the quarter. The firm had revenue of $553.30 million during the quarter. AAR had a return on equity of 12.29% and a net margin of 1.01%. Analysts expect that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

AAR Company Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Parts Supply segment leases and sells aircraft components and replacement parts. The Repair & Engineering segment provides airframe maintenance services, such as airframe inspection, painting, line maintenance, airframe modification, structural repair, avionics service and installation, exterior and interior refurbishment, and engineering and support services; component repair services comprising maintenance, repair, and overhaul (MRO) services, engine and airframe accessories, and interior refurbishment; and landing gear overhaul services, including repair services on wheels and brakes.