Wellington Management Group LLP Sells 151,160 Shares of AAR Corp. $AIR

Wellington Management Group LLP lessened its holdings in AAR Corp. (NYSE:AIR) by 28.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 377,784 shares of the aerospace company’s stock after selling 151,160 shares during the period. Wellington Management Group LLP’s holdings in AAR were worth $53,997,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in AAR by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company’s stock worth $1,163,000 after buying an additional 904 shares in the last quarter. Millennium Management LLC boosted its position in AAR by 35.8% during the 1st quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company’s stock valued at $7,557,000 after acquiring an additional 35,608 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of AAR by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,384 shares of the aerospace company’s stock valued at $5,453,000 after acquiring an additional 4,288 shares during the period. State Street Corp increased its holdings in shares of AAR by 10.9% in the 2nd quarter. State Street Corp now owns 1,917,821 shares of the aerospace company’s stock valued at $131,927,000 after acquiring an additional 188,406 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of AAR by 4.2% in the 2nd quarter. Sei Investments Co. now owns 265,375 shares of the aerospace company’s stock valued at $18,255,000 after acquiring an additional 10,725 shares during the period. 90.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

AAR Stock Performance

Shares of AIR opened at $125.66 on Friday. The company has a current ratio of 2.84, a quick ratio of 1.24 and a debt-to-equity ratio of 0.52. The firm has a market cap of $5.01 billion, a PE ratio of 26.02 and a beta of 1.11. AAR Corp. has a 12 month low of $73.05 and a 12 month high of $154.00. The stock has a fifty day moving average price of $138.14 and a 200-day moving average price of $123.20.

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