AAR Corp. $AIR Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lessened its stake in AAR Corp. (NYSE:AIR) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,944,689 shares of the aerospace company’s stock after selling 36,028 shares during the quarter. Dimensional Fund Advisors LP’s holdings in AAR were worth $212,848,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in AAR by 61.0% during the third quarter. JPMorgan Chase & Co. now owns 91,520 shares of the aerospace company’s stock worth $8,207,000 after purchasing an additional 34,689 shares during the last quarter. Vanguard Group Inc. grew its holdings in AAR by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company’s stock valued at $336,229,000 after purchasing an additional 281,871 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in AAR by 22.5% in the fourth quarter. First Eagle Investment Management LLC now owns 61,619 shares of the aerospace company’s stock valued at $5,101,000 after purchasing an additional 11,300 shares during the last quarter. Artemis Investment Management LLP purchased a new position in shares of AAR in the fourth quarter valued at $1,230,000. Finally, Wealth Enhancement Trust Services Inc. acquired a new position in shares of AAR during the 4th quarter worth $1,416,000. Institutional investors and hedge funds own 90.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AIR shares. KeyCorp reiterated a “sector weight” rating on shares of AAR in a research report on Wednesday. Truist Financial upgraded shares of AAR to a “strong-buy” rating in a research report on Friday, May 1st. Wall Street Zen downgraded shares of AAR from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. Jefferies Financial Group increased their price target on shares of AAR from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings raised shares of AAR from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $132.20.

AAR Stock Down 0.5%

AIR opened at $128.86 on Friday. The firm has a market cap of $5.14 billion, a P/E ratio of 26.68 and a beta of 1.09. The business’s fifty day simple moving average is $126.74 and its 200 day simple moving average is $116.05. AAR Corp. has a 52 week low of $71.43 and a 52 week high of $146.75. The company has a quick ratio of 1.23, a current ratio of 2.84 and a debt-to-equity ratio of 0.52.

AAR (NYSE:AIR) last announced its earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.15. The firm had revenue of $928.00 million during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $1.16 EPS. As a group, equities research analysts anticipate that AAR Corp. will post 5.91 EPS for the current fiscal year.

AAR Company 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.