1492 Capital Management LLC Invests $1.04 Million in AAR Corp. $AIR

1492 Capital Management LLC purchased a new position in shares of AAR Corp. (NYSE:AIR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,613 shares of the aerospace company’s stock, valued at approximately $1,044,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its stake in AAR by 144.3% in the third quarter. Wellington Management Group LLP now owns 1,486,775 shares of the aerospace company’s stock worth $133,319,000 after acquiring an additional 878,188 shares during the last quarter. UBS Group AG raised its position in shares of AAR by 709.2% during the 3rd quarter. UBS Group AG now owns 488,239 shares of the aerospace company’s stock worth $43,780,000 after acquiring an additional 427,906 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of AAR by 36.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company’s stock worth $107,752,000 after buying an additional 311,258 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of AAR by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company’s stock valued at $336,229,000 after buying an additional 281,871 shares in the last quarter. Finally, State Street Corp grew its position 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 buying an additional 188,406 shares during the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.

AAR Stock Performance

NYSE AIR opened at $112.20 on Thursday. The company has a current ratio of 2.70, a quick ratio of 1.23 and a debt-to-equity ratio of 0.54. AAR Corp. has a 12-month low of $64.48 and a 12-month high of $127.21. The business’s 50 day moving average is $112.83 and its two-hundred day moving average is $103.14. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 24.88 and a beta of 1.13.

AAR (NYSE:AIR) last issued its earnings results on Tuesday, March 24th. The aerospace company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.04. The company had revenue of $845.10 million for the quarter, compared to analyst estimates of $812.58 million. AAR had a net margin of 5.46% and a return on equity of 12.39%. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 earnings per share. Research analysts expect that AAR Corp. will post 4.97 EPS for the current year.

Insider Transactions at AAR

In related news, CEO John Mcclain Holmes III sold 60,000 shares of AAR stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $112.41, for a total transaction of $6,744,600.00. Following the completion of the transaction, the chief executive officer directly owned 235,064 shares of the company’s stock, valued at approximately $26,423,544.24. The trade was a 20.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AIR shares. Truist Financial raised AAR to a “strong-buy” rating in a research report on Friday, May 1st. Royal Bank Of Canada raised their target price on shares of AAR from $105.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. Jefferies Financial Group raised their price objective on shares of AAR to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Weiss Ratings cut shares of AAR from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 29th. Finally, KeyCorp increased their target price on shares of AAR from $120.00 to $132.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. One 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 stock. According to data from MarketBeat.com, AAR currently has a consensus rating of “Moderate Buy” and an average target price of $131.20.

About AAR

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.