PDT Partners LLC Takes $8.44 Million Position in AAR Corp. $AIR

PDT Partners LLC bought a new stake in AAR Corp. (NYSE:AIR) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 59,060 shares of the aerospace company’s stock, valued at approximately $8,441,000.

Several other large investors have also recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. acquired a new stake in AAR in the 1st quarter worth about $25,000. McMillan Office Inc. acquired a new position in shares of AAR during the 4th quarter valued at about $25,000. Osterweis Capital Management Inc. acquired a new position in shares of AAR during the 2nd quarter valued at about $26,000. Morse Asset Management Inc purchased a new position in shares of AAR during the 3rd quarter worth about $27,000. Finally, NBC Securities Inc. purchased a new position in shares of AAR during the 4th quarter worth about $28,000. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

AAR Stock Up 0.6%

Shares of NYSE:AIR opened at $135.41 on Wednesday. The stock has a 50-day simple moving average of $138.74 and a 200-day simple moving average of $122.33. The stock has a market capitalization of $5.40 billion, a P/E ratio of 28.04 and a beta of 1.11. AAR Corp. has a 1 year low of $73.05 and a 1 year 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 posted 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. The firm had revenue of $928.00 million for 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%. AAR’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.16 earnings per share. Equities analysts forecast that AAR Corp. will post 5.92 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of AAR from $128.00 to $145.00 and gave the company a “buy” rating in a report on Monday, July 27th. KeyCorp reaffirmed a “sector weight” rating on shares of AAR in a research note on Wednesday, July 22nd. Wall Street Zen lowered shares of AAR from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings raised shares of AAR from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 23rd. Finally, Zacks Research raised AAR from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.60.

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.