Emerald Advisers LLC Has $32.72 Million Position in AAR Corp. $AIR

Emerald Advisers LLC raised its stake in AAR Corp. (NYSE:AIR) by 8.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 364,875 shares of the aerospace company’s stock after buying an additional 27,870 shares during the quarter. AAR accounts for about 1.0% of Emerald Advisers LLC’s holdings, making the stock its 29th biggest position. Emerald Advisers LLC owned approximately 0.93% of AAR worth $32,718,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of AAR by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company’s stock valued at $1,163,000 after acquiring an additional 904 shares in the last quarter. Millennium Management LLC raised its holdings in shares of AAR by 35.8% during the first quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company’s stock worth $7,557,000 after acquiring an additional 35,608 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in AAR by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,384 shares of the aerospace company’s stock valued at $5,453,000 after purchasing an additional 4,288 shares during the last quarter. Voya Investment Management LLC grew its stake in AAR by 2.6% in the first quarter. Voya Investment Management LLC now owns 12,528 shares of the aerospace company’s stock valued at $701,000 after purchasing an additional 320 shares in the last quarter. Finally, Sheets Smith Wealth Management grew its stake in AAR by 1.9% in the second quarter. Sheets Smith Wealth Management now owns 7,416 shares of the aerospace company’s stock valued at $510,000 after purchasing an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.

AAR Trading Up 3.2%

Shares of NYSE:AIR opened at $106.97 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.31 and a current ratio of 2.84. The stock’s 50-day moving average is $86.60 and its 200-day moving average is $81.48. The company has a market cap of $4.23 billion, a P/E ratio of 41.95 and a beta of 1.24. AAR Corp. has a 52-week low of $46.51 and a 52-week high of $107.56.

AAR (NYSE:AIR) last posted its quarterly earnings data on Tuesday, January 6th. The aerospace company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.16. The business had revenue of $795.30 million during the quarter, compared to analysts’ expectations of $760.95 million. AAR had a return on equity of 12.40% and a net margin of 3.17%.The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 EPS. Equities research analysts predict that AAR Corp. will post 3.77 earnings per share for the current year.

Insider Activity

In related news, SVP Christopher A. Jessup sold 23,621 shares of the company’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $97.05, for a total transaction of $2,292,418.05. Following the completion of the transaction, the senior vice president directly owned 65,769 shares in the company, valued at $6,382,881.45. This represents a 26.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John Mcclain Holmes III sold 9,947 shares of the stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $99.41, for a total transaction of $988,831.27. Following the completion of the sale, the chief executive officer directly owned 237,064 shares of the company’s stock, valued at approximately $23,566,532.24. This trade represents a 4.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 146,696 shares of company stock valued at $13,477,247. 3.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AIR has been the subject of several research reports. KeyCorp lifted their price target on AAR from $93.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Wall Street Zen raised shares of AAR from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Royal Bank Of Canada lifted their target price on shares of AAR from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Truist Financial set a $107.00 price target on shares of AAR in a research note on Friday, January 9th. Finally, Zacks Research upgraded shares of AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $108.25.

AAR Profile

AAR Corp. (NYSE: AIR) is a global provider of aviation products and services to commercial, government and defense customers. The company offers a comprehensive portfolio of maintenance, repair and overhaul (MRO) solutions, component repair and overhaul, and engineering services designed to support a wide variety of fixed-wing and rotary aircraft. Leveraging FAA and EASA certifications, AAR delivers turnkey maintenance programs and ad hoc repair services that enhance aircraft availability and reliability.

In its Aviation Supply Chain Services segment, AAR sources, stores and distributes parts for both commercial airlines and military operators.