Bank of America Corp DE Has $10.49 Million Stake in AAR Corp. (NYSE:AIR)

Bank of America Corp DE lifted its position in AAR Corp. (NYSE:AIR) by 293.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,203 shares of the aerospace company’s stock after purchasing an additional 127,668 shares during the quarter. Bank of America Corp DE owned 0.48% of AAR worth $10,491,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AIR. Barclays PLC raised its stake in AAR by 269.4% during the third quarter. Barclays PLC now owns 66,223 shares of the aerospace company’s stock worth $4,328,000 after acquiring an additional 48,298 shares in the last quarter. SG Americas Securities LLC bought a new position in AAR in the fourth quarter valued at about $1,539,000. Inspire Investing LLC boosted its holdings in AAR by 3.3% in the fourth quarter. Inspire Investing LLC now owns 6,505 shares of the aerospace company’s stock valued at $399,000 after acquiring an additional 205 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in AAR by 52.1% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,711 shares of the aerospace company’s stock worth $166,000 after buying an additional 929 shares during the last quarter. Finally, Toth Financial Advisory Corp boosted its holdings in AAR by 133.3% during the fourth quarter. Toth Financial Advisory Corp now owns 1,400 shares of the aerospace company’s stock worth $86,000 after buying an additional 800 shares during the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AIR. Wall Street Zen upgraded AAR from a “sell” rating to a “hold” rating in a report on Saturday, April 19th. Truist Financial dropped their price target on AAR from $81.00 to $78.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Finally, KeyCorp dropped their target price on AAR from $83.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $80.20.

AAR Stock Down 0.5%

NYSE:AIR opened at $59.80 on Friday. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 213.58 and a beta of 1.40. AAR Corp. has a twelve month low of $46.51 and a twelve month high of $76.34. The stock’s 50 day moving average price is $57.58 and its two-hundred day moving average price is $63.15. The company has a quick ratio of 1.27, a current ratio of 2.68 and a debt-to-equity ratio of 0.84.

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. The company had revenue of $678.20 million during the quarter, compared to the consensus estimate of $699.13 million. AAR had a return on equity of 10.46% and a net margin of 0.41%. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. Equities research analysts expect that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

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.