Hennessy Advisors Inc. Acquires Shares of 83,300 AAR Corp. $AIR

Hennessy Advisors Inc. bought a new position in shares of AAR Corp. (NYSE:AIR) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 83,300 shares of the aerospace company’s stock, valued at approximately $11,906,000. Hennessy Advisors Inc. owned about 0.21% of AAR as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of AAR in the second quarter worth about $925,068,000. Wellington Management Group LLP lifted its stake in AAR by 144.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,486,775 shares of the aerospace company’s stock worth $133,319,000 after purchasing an additional 878,188 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of AAR during the 2nd quarter worth approximately $84,251,000. UBS Group AG grew its position in shares of AAR by 709.2% in the third quarter. UBS Group AG now owns 488,239 shares of the aerospace company’s stock valued at $43,780,000 after purchasing an additional 427,906 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of AAR by 17.1% in the fourth quarter. State Street Corp now owns 2,320,927 shares of the aerospace company’s stock valued at $192,150,000 after purchasing an additional 339,595 shares during the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.

AAR Stock Performance

Shares of AAR stock opened at $133.36 on Friday. The firm has a market cap of $5.32 billion, a PE ratio of 27.61 and a beta of 1.11. The company has a quick ratio of 1.24, a current ratio of 2.84 and a debt-to-equity ratio of 0.52. AAR Corp. has a 52 week low of $73.05 and a 52 week high of $154.00. The business’s fifty day simple moving average is $138.84 and its 200-day simple moving average is $122.79.

AAR (NYSE:AIR) last issued its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share (EPS) for the quarter, beating 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 previous year, the firm earned $1.16 EPS. AAR’s revenue was up 23.0% on a year-over-year basis. Equities analysts forecast that AAR Corp. will post 5.92 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Jefferies Financial Group upped their target price on AAR from $150.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. KeyCorp reiterated a “sector weight” rating on shares of AAR in a report on Wednesday, July 22nd. Weiss Ratings raised shares of AAR from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Truist Financial upped their price objective on shares of AAR from $128.00 to $145.00 and gave the company a “buy” rating in a report on Monday, July 27th. Finally, Wall Street Zen cut shares of AAR from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, AAR currently has an average rating of “Moderate Buy” and an average 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.