Fifth Third Bancorp Raises Stock Position in AAR Corp. $AIR

Fifth Third Bancorp grew its stake in shares of AAR Corp. (NYSE:AIR) by 12,069.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,978 shares of the aerospace company’s stock after acquiring an additional 32,707 shares during the period. Fifth Third Bancorp’s holdings in AAR were worth $3,610,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of AIR. Whittier Trust Co. of Nevada Inc. purchased a new position in AAR during the 1st quarter worth $25,000. McMillan Office Inc. purchased a new stake in shares of AAR in the 4th quarter worth $25,000. Morse Asset Management Inc bought a new position in shares of AAR during the 3rd quarter worth $27,000. Danske Bank A S bought a new position in shares of AAR during the 4th quarter worth $28,000. Finally, NBC Securities Inc. purchased a new position in shares of AAR during the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 90.74% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AIR shares. Truist Financial upgraded AAR to a “strong-buy” rating in a report on Friday, May 1st. KeyCorp cut shares of AAR from an “overweight” rating to a “sector weight” rating in a report on Tuesday, June 30th. Zacks Research raised shares of AAR from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Wall Street Zen lowered shares of AAR from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. Finally, Weiss Ratings cut shares of AAR from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, AAR has a consensus rating of “Buy” and an average target price of $132.20.

AAR Trading Up 0.1%

AIR opened at $135.44 on Monday. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 30.03 and a beta of 1.09. 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 $71.43 and a 12 month high of $146.75. The stock has a fifty day moving average price of $124.46 and a 200-day moving average price of $114.54.

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.