Bank of New York Mellon Corp Has $29.68 Million Stock Holdings in AAR Corp. $AIR

Bank of New York Mellon Corp trimmed its position in AAR Corp. (NYSE:AIR) by 3.0% in the first quarter, Holdings Channel reports. The fund owned 271,166 shares of the aerospace company’s stock after selling 8,430 shares during the quarter. Bank of New York Mellon Corp’s holdings in AAR were worth $29,682,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AIR. JPMorgan Chase & Co. raised its holdings in AAR by 61.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 91,520 shares of the aerospace company’s stock valued at $8,207,000 after buying an additional 34,689 shares during the last quarter. Vanguard Group Inc. grew its holdings in AAR by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company’s stock worth $336,229,000 after acquiring an additional 281,871 shares during the last quarter. First Eagle Investment Management LLC increased its position in AAR by 22.5% in the 4th quarter. First Eagle Investment Management LLC now owns 61,619 shares of the aerospace company’s stock valued at $5,101,000 after acquiring an additional 11,300 shares during the period. Artemis Investment Management LLP acquired a new position in AAR in the 4th quarter valued at approximately $1,230,000. Finally, Wealth Enhancement Trust Services Inc. bought a new position in shares of AAR during the fourth quarter valued at $1,416,000. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Stock Performance

Shares of AIR stock opened at $128.86 on Monday. The firm has a market capitalization of $5.14 billion, a PE ratio of 26.68 and a beta of 1.09. The firm has a fifty day simple moving average of $126.74 and a two-hundred day simple moving average of $116.24. The company has a current ratio of 2.84, a quick ratio of 1.24 and a debt-to-equity ratio of 0.52. AAR Corp. has a 12 month low of $71.43 and a 12 month high of $146.75.

AAR (NYSE:AIR) last released its quarterly earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.15. AAR had a return on equity of 12.67% and a net margin of 5.67%.The business had revenue of $928.00 million during the quarter, compared to the consensus estimate of $893.03 million. During the same quarter in the previous year, the business earned $1.16 EPS. The company’s quarterly revenue was up 23.0% on a year-over-year basis. Analysts forecast that AAR Corp. will post 5.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Truist Financial upgraded shares of AAR to a “strong-buy” rating in a report on Friday, May 1st. Jefferies Financial Group raised their target price on AAR from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Weiss Ratings raised shares of AAR from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. KeyCorp reiterated a “sector weight” rating on shares of AAR in a research report on Wednesday. Finally, Zacks Research raised shares of AAR from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $132.20.

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.