Teacher Retirement System of Texas Buys New Shares in AAR Corp. (NYSE:AIR)

Teacher Retirement System of Texas bought a new stake in AAR Corp. (NYSE:AIR) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,251 shares of the aerospace company’s stock, valued at approximately $294,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Putney Financial Group LLC bought a new position in shares of AAR in the fourth quarter valued at $30,000. Virtus Fund Advisers LLC bought a new position in shares of AAR in the fourth quarter valued at $36,000. Sterling Capital Management LLC boosted its position in AAR by 761.2% during the fourth quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company’s stock worth $54,000 after purchasing an additional 784 shares during the period. GAMMA Investing LLC boosted its position in AAR by 88.5% during the first quarter. GAMMA Investing LLC now owns 1,131 shares of the aerospace company’s stock worth $63,000 after purchasing an additional 531 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in AAR during the fourth quarter worth $80,000. 90.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on AIR shares. Truist Financial lifted their price objective on shares of AAR from $78.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. KeyCorp lifted their price objective on shares of AAR from $80.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday. Wall Street Zen raised shares of AAR from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Royal Bank Of Canada lifted their price objective on shares of AAR from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $84.00.

AAR Trading Down 1.7%

Shares of AAR stock opened at $83.68 on Friday. The firm has a 50-day moving average of $67.49 and a 200-day moving average of $64.10. The stock has a market cap of $3.02 billion, a PE ratio of 253.58 and a beta of 1.44. AAR Corp. has a 52-week low of $46.51 and a 52-week high of $86.43. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.39 and a current ratio of 2.72.

AAR (NYSE:AIR) last announced its earnings results on Wednesday, July 16th. The aerospace company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The company had revenue of $754.50 million during the quarter, compared to analysts’ expectations of $695.81 million. AAR had a net margin of 0.45% and a return on equity of 11.66%. AAR’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 earnings per share. As a group, sell-side analysts forecast that AAR Corp. will post 3.77 EPS for the current year.

About AAR

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.