AAR Corp. $AIR Position Boosted by Gabelli Funds LLC

Gabelli Funds LLC increased its position in AAR Corp. (NYSE:AIR) by 57.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 78,169 shares of the aerospace company’s stock after purchasing an additional 28,593 shares during the period. Gabelli Funds LLC owned 0.22% of AAR worth $5,377,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Fred Alger Management LLC lifted its holdings in AAR by 32.6% during the 1st quarter. Fred Alger Management LLC now owns 533,770 shares of the aerospace company’s stock worth $29,886,000 after buying an additional 131,092 shares during the last quarter. Nuveen LLC acquired a new stake in shares of AAR during the 1st quarter valued at approximately $6,226,000. Invesco Ltd. lifted its stake in AAR by 8.4% during the first 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. Marsico Capital Management LLC acquired a new position in AAR in the second quarter worth $4,801,000. Finally, Algert Global LLC increased its stake in AAR by 100.7% during the first quarter. Algert Global LLC now owns 123,170 shares of the aerospace company’s stock valued at $6,896,000 after purchasing an additional 61,794 shares during the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Stock Performance

Shares of AIR stock opened at $79.50 on Wednesday. AAR Corp. has a 12-month low of $46.51 and a 12-month high of $89.69. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.91 and a quick ratio of 1.31. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 101.92 and a beta of 1.29. The business has a 50 day simple moving average of $82.48 and a 200 day simple moving average of $76.51.

AAR (NYSE:AIR) last announced its quarterly earnings results on Wednesday, May 28th. The aerospace company reported $0.83 earnings per share (EPS) for the quarter. The company had revenue of $553.30 million during the quarter. AAR had a return on equity of 12.29% and a net margin of 1.01%. On average, equities research analysts anticipate that AAR Corp. will post 3.77 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of AAR from a “hold” rating to a “buy” rating in a research report on Sunday, November 2nd. Truist Financial raised their target price on shares of AAR from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Zacks Research downgraded AAR from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 29th. KeyCorp increased their price target on AAR from $86.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of AAR in a research report on Monday, December 1st. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.00.

Insider Transactions at AAR

In other AAR news, CEO John Mcclain Holmes III sold 38,462 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $83.50, for a total transaction of $3,211,577.00. Following the transaction, the chief executive officer owned 260,141 shares of the company’s stock, valued at approximately $21,721,773.50. This trade represents a 12.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.60% of the stock is owned by corporate insiders.

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.