Intech Investment Management LLC Raises Stock Position in AAR Corp. $AIR

Intech Investment Management LLC grew its stake in AAR Corp. (NYSE:AIR) by 480.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 155,987 shares of the aerospace company’s stock after buying an additional 129,113 shares during the period. Intech Investment Management LLC’s holdings in AAR were worth $13,987,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AIR. Osterweis Capital Management Inc. purchased a new stake in AAR in the second quarter valued at $26,000. Salomon & Ludwin LLC purchased a new position in shares of AAR during the third quarter worth about $30,000. Optiver Holding B.V. acquired a new stake in shares of AAR during the third quarter worth about $31,000. Westfuller Advisors LLC purchased a new stake in shares of AAR in the 3rd quarter valued at about $39,000. Finally, Concord Wealth Partners purchased a new stake in shares of AAR in the 3rd quarter valued at about $51,000. 90.74% of the stock is currently owned by institutional investors and hedge funds.

AAR Price Performance

AAR stock opened at $118.47 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.84 and a quick ratio of 1.31. The business has a 50 day simple moving average of $102.20 and a 200-day simple moving average of $87.90. AAR Corp. has a 12 month low of $46.51 and a 12 month high of $119.24. The stock has a market capitalization of $4.69 billion, a PE ratio of 46.46 and a beta of 1.23.

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, beating analysts’ consensus estimates of $1.02 by $0.16. The firm had revenue of $795.30 million for the quarter, compared to analyst estimates of $760.95 million. AAR had a net margin of 3.17% and a return on equity of 12.40%. AAR’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm posted $0.90 EPS. Equities analysts predict that AAR Corp. will post 3.77 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Zacks Research upgraded AAR from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. Truist Financial set a $107.00 price objective on AAR in a report on Friday, January 9th. Wall Street Zen raised shares of AAR from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. The Goldman Sachs Group assumed coverage on shares of AAR in a research report on Monday, January 26th. They issued a “neutral” rating and a $121.00 price target for the company. Finally, KeyCorp raised their price objective on shares of AAR from $93.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. One equities 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.40.

Insider Activity

In other news, SVP Christopher A. Jessup sold 23,621 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president directly owned 65,769 shares in the company, valued at $6,382,881.45. The trade was a 26.42% 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, CAO Jessica A. Garascia sold 4,787 shares of the stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $95.25, for a total transaction of $455,961.75. Following the transaction, the chief accounting officer directly owned 29,557 shares of the company’s stock, valued at $2,815,304.25. This represents a 13.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 128,984 shares of company stock worth $12,517,090 in the last ninety days. 3.60% of the stock is currently owned by insiders.

AAR Company 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.