Envestnet Asset Management Inc. Has $7.62 Million Position in AAR Corp. (NYSE:AIR)

Envestnet Asset Management Inc. cut its holdings in AAR Corp. (NYSE:AIR) by 0.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 124,414 shares of the aerospace company’s stock after selling 924 shares during the quarter. Envestnet Asset Management Inc. owned about 0.35% of AAR worth $7,624,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. ExodusPoint Capital Management LP increased its position in shares of AAR by 72.5% during the fourth quarter. ExodusPoint Capital Management LP now owns 35,709 shares of the aerospace company’s stock worth $2,188,000 after acquiring an additional 15,014 shares in the last quarter. Bryce Point Capital LLC acquired a new stake in shares of AAR in the 4th quarter valued at about $1,128,000. Geode Capital Management LLC lifted its holdings in shares of AAR by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 799,766 shares of the aerospace company’s stock valued at $49,020,000 after purchasing an additional 2,804 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of AAR by 11.0% during the fourth quarter. Alliancebernstein L.P. now owns 40,478 shares of the aerospace company’s stock worth $2,480,000 after buying an additional 4,000 shares during the period. Finally, Pictet Asset Management Holding SA grew its holdings in shares of AAR by 27.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 5,404 shares of the aerospace company’s stock worth $331,000 after buying an additional 1,179 shares in the last quarter. 90.74% of the stock is owned by institutional investors.

AAR Trading Up 0.1 %

Shares of NYSE:AIR opened at $52.82 on Friday. The company has a 50-day simple moving average of $61.21 and a 200 day simple moving average of $63.84. The company has a market capitalization of $1.91 billion, a P/E ratio of 188.66 and a beta of 1.32. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.27 and a current ratio of 2.68. AAR Corp. has a 52-week low of $46.51 and a 52-week high of $76.34.

AAR (NYSE:AIR) last issued its earnings results on Thursday, March 27th. The aerospace company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.96 by $0.03. AAR had a return on equity of 10.46% and a net margin of 0.41%. The company had revenue of $678.20 million during the quarter, compared to the consensus estimate of $699.13 million. During the same period in the previous year, the company posted $0.85 EPS. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. Sell-side analysts forecast that AAR Corp. will post 3.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AIR. StockNews.com raised shares of AAR from a “sell” rating to a “hold” rating in a research note on Saturday. KeyCorp reduced their price objective on shares of AAR from $83.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Finally, Truist Financial dropped their target price on AAR from $81.00 to $78.00 and set a “buy” rating on the stock in a report on Friday, March 28th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.20.

AAR 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.