Keebeck Wealth Management Purchases New Position in AAR Corp. $AIR

Keebeck Wealth Management acquired a new position in shares of AAR Corp. (NYSE:AIR – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,894 shares of the aerospace company’s stock, valued at approximately $699,000.

A number of other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in AAR in the second quarter worth $925,068,000. Wellington Management Group LLP grew its holdings in shares of AAR by 144.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,486,775 shares of the aerospace company’s stock valued at $133,319,000 after buying an additional 878,188 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of AAR by 297.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 594,668 shares of the aerospace company’s stock valued at $49,233,000 after buying an additional 445,026 shares during the period. UBS Group AG increased its position in shares of AAR by 709.2% in the 3rd quarter. UBS Group AG now owns 488,239 shares of the aerospace company’s stock valued at $43,780,000 after buying an additional 427,906 shares in the last quarter. Finally, State Street Corp increased its position in shares of AAR by 17.1% in the 4th quarter. State Street Corp now owns 2,320,927 shares of the aerospace company’s stock valued at $192,150,000 after buying an additional 339,595 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

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AAR Trading Up 1.3%

Shares of NYSE:AIR opened at $134.15 on Friday. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 27.77 and a beta of 1.11. AAR Corp. has a 12 month low of $72.00 and a 12 month high of $154.00. The company’s fifty day simple moving average is $138.58 and its 200 day simple moving average is $121.86. The company has a quick ratio of 1.24, a current ratio of 2.84 and a debt-to-equity ratio of 0.52.

AAR (NYSE:AIR – Get Free Report) last announced its earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.15. The firm had revenue of $928.00 million during the quarter, compared to analyst estimates of $893.03 million. AAR had a net margin of 5.67% and a return on equity of 12.67%. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.16 EPS. As a group, research analysts forecast that AAR Corp. will post 5.92 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on AIR shares. Weiss Ratings upgraded AAR from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. Wall Street Zen downgraded AAR from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Truist Financial raised their price target on AAR from $128.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Jefferies Financial Group lifted their price objective on AAR from $150.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Zacks Research upgraded AAR from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $135.60.

View Our Latest Research Report on AIR

About AAR

(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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