Geode Capital Management LLC Grows Stock Position in AAR Corp. $AIR

Geode Capital Management LLC lifted its stake in AAR Corp. (NYSE:AIR – Free Report) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 920,743 shares of the aerospace company’s stock after buying an additional 78,810 shares during the period. Geode Capital Management LLC’s holdings in AAR were worth $76,239,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AIR. Wellington Management Group LLP increased its holdings in shares of AAR by 144.3% in the third quarter. Wellington Management Group LLP now owns 1,486,775 shares of the aerospace company’s stock worth $133,319,000 after buying an additional 878,188 shares during the period. UBS Group AG increased its holdings in shares of AAR by 709.2% in the third quarter. UBS Group AG now owns 488,239 shares of the aerospace company’s stock worth $43,780,000 after buying an additional 427,906 shares during the period. Franklin Resources Inc. increased its holdings in shares of AAR by 36.9% in the third quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company’s stock worth $107,752,000 after buying an additional 311,258 shares during the period. Vanguard Group Inc. increased its holdings in shares of AAR by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company’s stock worth $336,229,000 after buying an additional 281,871 shares during the period. Finally, State Street Corp increased its holdings in shares of AAR by 10.9% in the second quarter. State Street Corp now owns 1,917,821 shares of the aerospace company’s stock worth $131,927,000 after buying an additional 188,406 shares during the period. Hedge funds and other institutional investors own 90.74% of the company’s stock.

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AAR Stock Down 1.6%

Shares of NYSE:AIR opened at $114.81 on Tuesday. AAR Corp. has a 1 year low of $66.68 and a 1 year high of $127.21. The company has a market cap of $4.56 billion, a PE ratio of 25.46 and a beta of 1.13. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.70 and a quick ratio of 1.23. The stock’s 50-day moving average is $113.00 and its 200 day moving average is $103.90.

AAR (NYSE:AIR – Get Free Report) last announced its quarterly earnings results on Tuesday, March 24th. The aerospace company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. The company had revenue of $845.10 million for the quarter, compared to the consensus estimate of $812.58 million. AAR had a return on equity of 12.39% and a net margin of 5.46%.AAR’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.99 EPS. Sell-side analysts anticipate that AAR Corp. will post 4.97 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AIR. KeyCorp lifted their price objective on AAR from $120.00 to $132.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Weiss Ratings downgraded AAR from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 29th. Zacks Research downgraded AAR from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Wall Street Zen upgraded AAR from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Truist Financial upgraded AAR to a “strong-buy” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $131.20.

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Insiders Place Their Bets

In other AAR news, CEO John Mcclain Holmes III sold 26,175 shares of AAR stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $107.60, for a total transaction of $2,816,430.00. Following the sale, the chief executive officer directly owned 235,064 shares of the company’s stock, valued at approximately $25,292,886.40. The trade was a 10.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.60% of the company’s stock.

AAR Company Profile

(Free Report)

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.

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