Barrow Hanley Mewhinney & Strauss LLC Makes New Investment in AAR Corp. $AIR

Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in AAR Corp. (NYSE:AIR) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 149,642 shares of the aerospace company’s stock, valued at approximately $13,418,000. Barrow Hanley Mewhinney & Strauss LLC owned approximately 0.38% of AAR at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AIR. Optiver Holding B.V. purchased a new stake in shares of AAR during the 3rd quarter worth $31,000. Salomon & Ludwin LLC purchased a new position in AAR in the third quarter valued at $30,000. Osterweis Capital Management Inc. acquired a new stake in AAR in the second quarter valued at $26,000. Westfuller Advisors LLC purchased a new stake in AAR during the 3rd quarter worth about $39,000. Finally, Banque Cantonale Vaudoise purchased a new stake in AAR during the 3rd quarter worth about $46,000. Hedge funds and other institutional investors own 90.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Truist Financial reiterated a “buy” rating and issued a $128.00 price objective (up from $107.00) on shares of AAR in a report on Friday, March 6th. Zacks Research raised AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. The Goldman Sachs Group started coverage on shares of AAR in a research note on Monday, January 26th. They issued a “neutral” rating and a $121.00 price target on the stock. Royal Bank Of Canada raised their price objective on shares of AAR from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Finally, Wall Street Zen upgraded shares of AAR from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $119.60.

Insider Activity

In other news, CEO John Mcclain Holmes III sold 30,000 shares of the business’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $97.50, for a total transaction of $2,925,000.00. Following the transaction, the chief executive officer directly owned 237,064 shares in the company, valued at $23,113,740. The trade was a 11.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sarah Louise Flanagan sold 10,750 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $108.56, for a total transaction of $1,167,020.00. Following the transaction, the chief financial officer directly owned 32,848 shares of the company’s stock, valued at $3,565,978.88. This represents a 24.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 128,984 shares of company stock valued at $12,517,090. Corporate insiders own 3.60% of the company’s stock.

AAR Stock Performance

NYSE AIR opened at $108.37 on Thursday. The firm has a market cap of $4.29 billion, a P/E ratio of 42.50 and a beta of 1.19. AAR Corp. has a 52-week low of $46.51 and a 52-week high of $121.64. The business’s 50-day moving average price is $107.27 and its 200 day moving average price is $90.35. The company has a quick ratio of 1.31, a current ratio of 2.84 and a debt-to-equity ratio of 0.61.

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 analysts’ consensus estimates of $1.02 by $0.16. The company 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 for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the firm earned $0.90 EPS. On average, equities research analysts expect that AAR Corp. will post 3.77 earnings per share for the current year.

About AAR

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.