Globeflex Capital L P Takes $1.40 Million Position in AAR Corp. $AIR

Globeflex Capital L P purchased a new stake in AAR Corp. (NYSE:AIR) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 16,862 shares of the aerospace company’s stock, valued at approximately $1,396,000.

A number of other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in AAR by 4.5% during the 1st 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 during the last quarter. Millennium Management LLC grew its stake in AAR by 35.8% during the 1st quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company’s stock worth $7,557,000 after buying an additional 35,608 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in AAR by 4.6% during 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 worth $5,453,000 after buying an additional 4,288 shares during the last quarter. State Street Corp grew its stake in AAR by 10.9% during the 2nd quarter. State Street Corp now owns 1,917,821 shares of the aerospace company’s stock worth $131,927,000 after buying an additional 188,406 shares during the last quarter. Finally, Sei Investments Co. grew its stake in AAR by 4.2% during the 2nd quarter. Sei Investments Co. now owns 265,375 shares of the aerospace company’s stock worth $18,255,000 after buying an additional 10,725 shares during the last quarter. 90.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on AIR. Jefferies Financial Group upped their target price on shares of AAR to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Royal Bank Of Canada upped 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. Zacks Research downgraded AAR from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. KeyCorp boosted their price objective on AAR from $120.00 to $132.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Finally, Wall Street Zen downgraded AAR from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $131.20.

AAR Price Performance

Shares of AIR opened at $115.23 on Friday. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 25.55 and a beta of 1.13. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.23 and a current ratio of 2.70. AAR Corp. has a one year low of $64.99 and a one year high of $127.21. The stock’s fifty day moving average is $112.97 and its 200-day moving average is $103.38.

AAR (NYSE:AIR) last issued its quarterly earnings results on Tuesday, March 24th. The aerospace company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 12.39% and a net margin of 5.46%.The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period last year, the company earned $0.99 earnings per share. Equities analysts anticipate that AAR Corp. will post 4.97 EPS for the current year.

Insider Activity at AAR

In other news, CEO John Mcclain Holmes III sold 60,000 shares of the firm’s 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 transaction, the chief executive officer directly owned 235,064 shares of the company’s stock, valued at approximately $26,423,544.24. This trade represents a 20.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.60% of the company’s stock.

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.