Edgestream Partners L.P. Makes New Investment in AAR Corp. $AIR

Edgestream Partners L.P. purchased a new stake in AAR Corp. (NYSE:AIR) in the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 12,945 shares of the aerospace company’s stock, valued at approximately $1,417,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of 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 acquiring an additional 281,871 shares in the last quarter. First Eagle Investment Management LLC boosted 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 period. Artemis Investment Management LLP acquired a new position in AAR during the 4th quarter worth $1,230,000. Wealth Enhancement Trust Services Inc. purchased a new position in shares of AAR in the 4th quarter valued at about $1,416,000. Finally, First Trust Advisors LP boosted its stake in shares of AAR by 20.4% in the 1st quarter. First Trust Advisors LP now owns 90,749 shares of the aerospace company’s stock valued at $9,933,000 after buying an additional 15,345 shares during the period. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Trading Up 2.3%

NYSE:AIR opened at $143.22 on Tuesday. AAR Corp. has a 1 year low of $71.43 and a 1 year high of $146.75. The stock has a market cap of $5.71 billion, a P/E ratio of 29.65 and a beta of 1.11. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.24 and a current ratio of 2.84. The stock has a 50-day simple moving average of $130.69 and a 200-day simple moving average of $118.12.

AAR (NYSE:AIR) last issued its earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.15. The business had revenue of $928.00 million for the quarter, compared to analyst estimates of $893.03 million. AAR had a return on equity of 12.67% and a net margin of 5.67%.The business’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the company earned $1.16 EPS. As a group, analysts anticipate that AAR Corp. will post 5.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on AIR. Truist Financial upped their target price on shares of AAR from $128.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Weiss Ratings upgraded shares of AAR from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 23rd. Wall Street Zen cut shares of AAR from a “buy” rating to a “hold” rating in a report on Saturday. Jefferies Financial Group increased their price objective 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, KeyCorp restated a “sector weight” rating on shares of AAR in a report on Wednesday, July 22nd. One equities 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $135.60.

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.