R Squared Ltd Invests $206,000 in AAR Corp. $AIR

R Squared Ltd bought a new position in AAR Corp. (NYSE:AIR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,998 shares of the aerospace company’s stock, valued at approximately $206,000.

A number of other hedge funds have also modified their holdings of the stock. Westwood Holdings Group Inc. raised its holdings in shares of AAR by 10.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,589,320 shares of the aerospace company’s stock worth $88,986,000 after buying an additional 148,166 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of AAR by 8.4% in the 1st quarter. Invesco Ltd. now owns 1,160,420 shares of the aerospace company’s stock worth $64,972,000 after acquiring an additional 89,802 shares in the last quarter. Fred Alger Management LLC boosted its holdings in shares of AAR by 32.6% in the 1st quarter. Fred Alger Management LLC now owns 533,770 shares of the aerospace company’s stock worth $29,886,000 after acquiring an additional 131,092 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of AAR by 7.9% in the 1st quarter. Royal Bank of Canada now owns 518,061 shares of the aerospace company’s stock worth $29,007,000 after acquiring an additional 37,723 shares in the last quarter. Finally, Emerald Advisers LLC boosted its holdings in shares of AAR by 4.2% in the 1st quarter. Emerald Advisers LLC now owns 510,814 shares of the aerospace company’s stock worth $28,600,000 after acquiring an additional 20,654 shares in the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AIR. Royal Bank Of Canada reissued an “outperform” rating and issued a $85.00 target price on shares of AAR in a report on Wednesday, September 24th. KeyCorp boosted their target price on AAR from $86.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Wall Street Zen downgraded AAR from a “buy” rating to a “hold” rating in a report on Saturday. Truist Financial boosted their target price on AAR from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, Zacks Research raised AAR from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $89.33.

Insiders Place Their Bets

In other AAR news, CEO John Mcclain Holmes III sold 10,000 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $71.70, for a total transaction of $717,000.00. Following the completion of the sale, the chief executive officer owned 298,603 shares in the company, valued at approximately $21,409,835.10. The trade was a 3.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.60% of the stock is owned by company insiders.

AAR Stock Performance

AIR stock opened at $86.43 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.91 and a quick ratio of 1.31. The company has a 50 day moving average price of $79.11 and a 200 day moving average price of $70.53. AAR Corp. has a fifty-two week low of $46.51 and a fifty-two week high of $89.69. The stock has a market capitalization of $3.38 billion, a PE ratio of 110.81 and a beta of 1.52.

AAR (NYSE:AIR) last posted its quarterly earnings data on Wednesday, May 28th. The aerospace company reported $0.83 earnings per share for the quarter. AAR had a net margin of 1.01% and a return on equity of 12.29%. The firm had revenue of $553.30 million during the quarter. Analysts forecast that AAR Corp. will post 3.77 EPS for the current year.

AAR Company Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Parts Supply segment leases and sells aircraft components and replacement parts. The Repair & Engineering segment provides airframe maintenance services, such as airframe inspection, painting, line maintenance, airframe modification, structural repair, avionics service and installation, exterior and interior refurbishment, and engineering and support services; component repair services comprising maintenance, repair, and overhaul (MRO) services, engine and airframe accessories, and interior refurbishment; and landing gear overhaul services, including repair services on wheels and brakes.