Raymond James Financial Inc. Has $8.87 Million Holdings in AAR Corp. $AIR

Raymond James Financial Inc. increased its stake in AAR Corp. (NYSE:AIR) by 41.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,461 shares of the aerospace company’s stock after purchasing an additional 46,696 shares during the period. Raymond James Financial Inc. owned 0.44% of AAR worth $8,872,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AIR. Westwood Holdings Group Inc. raised its position in AAR by 10.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,589,320 shares of the aerospace company’s stock worth $88,986,000 after purchasing an additional 148,166 shares during the last quarter. Bank of America Corp DE raised its position in AAR by 293.3% in the 4th quarter. Bank of America Corp DE now owns 171,203 shares of the aerospace company’s stock worth $10,491,000 after purchasing an additional 127,668 shares during the last quarter. Nuveen LLC bought a new position in AAR in the 1st quarter worth approximately $6,226,000. Invesco Ltd. raised its position in AAR by 8.4% in the 1st quarter. Invesco Ltd. now owns 1,160,420 shares of the aerospace company’s stock worth $64,972,000 after purchasing an additional 89,802 shares during the last quarter. Finally, Two Sigma Investments LP raised its position in AAR by 250.9% in the 4th quarter. Two Sigma Investments LP now owns 116,866 shares of the aerospace company’s stock worth $7,162,000 after purchasing an additional 83,561 shares during the last quarter. Institutional investors own 90.74% of the company’s stock.

AAR Stock Performance

Shares of AAR stock opened at $75.50 on Tuesday. The firm has a fifty day moving average of $74.47 and a two-hundred day moving average of $65.77. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 228.78 and a beta of 1.50. 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 1.26 and a current ratio of 2.72.

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

Insider Activity

In related news, Director Jennifer L. Vogel sold 7,000 shares of the company’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $78.07, for a total value of $546,490.00. Following the completion of the sale, the director owned 22,970 shares in the company, valued at $1,793,267.90. This represents a 23.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jessica A. Garascia sold 3,631 shares of the company’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $77.08, for a total transaction of $279,877.48. Following the completion of the sale, the chief accounting officer owned 39,117 shares of the company’s stock, valued at approximately $3,015,138.36. This represents a 8.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,182 shares of company stock worth $7,331,452 in the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on AIR shares. Truist Financial boosted 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. Royal Bank Of Canada boosted 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, July 17th. Wall Street Zen upgraded shares of AAR from a “hold” rating to a “buy” rating in a research report on Tuesday, August 19th. Finally, KeyCorp upped their target price on shares of AAR from $80.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, AAR currently has a consensus rating of “Buy” and a consensus price target of $83.75.

AAR Company 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.