Hennion & Walsh Asset Management Inc. Buys 3,583 Shares of AAR Corp. $AIR

Hennion & Walsh Asset Management Inc. lifted its position in shares of AAR Corp. (NYSE:AIR) by 8.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,194 shares of the aerospace company’s stock after buying an additional 3,583 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in AAR were worth $6,603,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. McMillan Office Inc. bought a new position in AAR during the fourth quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. bought a new stake in AAR in the first quarter valued at approximately $25,000. Osterweis Capital Management Inc. bought a new stake in AAR in the second quarter valued at approximately $26,000. Morse Asset Management Inc acquired a new stake in shares of AAR in the third quarter valued at approximately $27,000. Finally, NBC Securities Inc. acquired a new stake in shares of AAR in the fourth quarter valued at approximately $28,000. Institutional investors own 90.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AIR. KeyCorp reissued a “sector weight” rating on shares of AAR in a report on Wednesday, July 22nd. Truist Financial lifted their price objective on shares of AAR from $128.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Zacks Research upgraded shares of AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Weiss Ratings raised shares of AAR from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. Finally, Jefferies Financial Group upped their price target on shares of AAR from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.60.

AAR Trading Down 0.1%

Shares of AAR stock opened at $142.90 on Monday. The firm has a 50-day moving average of $133.36 and a 200-day moving average of $119.31. The stock has a market cap of $5.70 billion, a PE ratio of 29.59 and a beta of 1.11. AAR Corp. has a 52-week low of $71.67 and a 52-week high of $154.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.24 and a current ratio of 2.84.

AAR (NYSE:AIR) last released its quarterly earnings results on Tuesday, July 21st. The aerospace company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.38 by $0.15. AAR had a net margin of 5.67% and a return on equity of 12.67%. The business had revenue of $928.00 million for the quarter, compared to the consensus estimate of $893.03 million. During the same period in the prior year, the company posted $1.16 earnings per share. AAR’s revenue was up 23.0% compared to the same quarter last year. As a group, sell-side analysts forecast that AAR Corp. will post 5.92 EPS for the current year.

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.