Royal Bank of Canada Has $50.39 Million Stock Position in AAR Corp. $AIR

Royal Bank of Canada lowered its position in AAR Corp. (NYSE:AIR) by 7.4% during the first quarter, HoldingsChannel.com reports. The firm owned 460,344 shares of the aerospace company’s stock after selling 36,724 shares during the quarter. Royal Bank of Canada’s holdings in AAR were worth $50,389,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Lido Advisors LLC lifted its holdings in shares of AAR by 2.8% during the 4th quarter. Lido Advisors LLC now owns 3,618 shares of the aerospace company’s stock valued at $318,000 after buying an additional 98 shares during the last quarter. Smartleaf Asset Management LLC raised its position in AAR by 12.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,162 shares of the aerospace company’s stock valued at $97,000 after acquiring an additional 126 shares in the last quarter. PNC Financial Services Group Inc. raised its position in AAR by 1.7% during the first quarter. PNC Financial Services Group Inc. now owns 8,073 shares of the aerospace company’s stock valued at $884,000 after acquiring an additional 132 shares in the last quarter. CWM LLC lifted its stake in AAR by 19.3% in the fourth quarter. CWM LLC now owns 950 shares of the aerospace company’s stock valued at $79,000 after acquiring an additional 154 shares during the last quarter. Finally, Assetmark Inc. grew its position in AAR by 10.7% in the first quarter. Assetmark Inc. now owns 1,606 shares of the aerospace company’s stock worth $176,000 after acquiring an additional 155 shares in the last quarter. 90.74% of the stock is owned by hedge funds and other institutional investors.

AAR Price Performance

Shares of AAR stock opened at $140.00 on Monday. The company has a current ratio of 2.84, a quick ratio of 1.24 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $130.00 and a 200-day simple moving average of $117.80. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 28.98 and a beta of 1.11. AAR Corp. has a 1-year low of $71.43 and a 1-year high of $146.75.

AAR (NYSE:AIR) last posted its earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 5.67% and a return on equity of 12.67%. AAR’s revenue was up 23.0% compared to the same quarter last year. During the same period last year, the business posted $1.16 EPS. On average, sell-side analysts expect that AAR Corp. will post 5.92 earnings per share for the current year.

Analysts Set New Price Targets

AIR has been the topic of several analyst reports. Wall Street Zen lowered shares of AAR from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings upgraded shares of AAR from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. KeyCorp reissued a “sector weight” rating on shares of AAR in a research report on Wednesday, July 22nd. Zacks Research raised AAR from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Finally, Truist Financial upped their price target on AAR from $128.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. One 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $135.60.

About AAR

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.