Oppenheimer Asset Management Inc. Has $2.35 Million Stock Holdings in AAR Corp. $AIR

Oppenheimer Asset Management Inc. lessened its holdings in AAR Corp. (NYSE:AIR) by 5.5% during the second quarter, HoldingsChannel reports. The firm owned 34,189 shares of the aerospace company’s stock after selling 1,982 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in AAR were worth $2,352,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of AIR. Westwood Holdings Group Inc. boosted 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 valued at $88,986,000 after purchasing an additional 148,166 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 valued at $29,886,000 after purchasing an additional 131,092 shares in the last quarter. Nuveen LLC acquired a new stake in shares of AAR in the 1st quarter valued at $6,226,000. 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 valued at $64,972,000 after purchasing an additional 89,802 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in shares of AAR by 100.7% in the 1st quarter. Algert Global LLC now owns 123,170 shares of the aerospace company’s stock valued at $6,896,000 after purchasing an additional 61,794 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on AIR. Wall Street Zen downgraded AAR from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Weiss Ratings reiterated a “hold (c-)” rating on shares of AAR in a research note on Wednesday, October 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $85.00 price target on shares of AAR in a research note on Wednesday, September 24th. Truist Financial increased their price target on AAR from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, KeyCorp increased their price target on AAR from $86.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $89.33.

AAR Stock Up 0.2%

Shares of AIR opened at $84.73 on Thursday. AAR Corp. has a 52 week low of $46.51 and a 52 week high of $89.69. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 108.63 and a beta of 1.52. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.31 and a current ratio of 2.91. The stock has a fifty day moving average of $79.76 and a 200-day moving average of $71.30.

AAR (NYSE:AIR) last announced its earnings results on Wednesday, May 28th. The aerospace company reported $0.83 earnings per share (EPS) for the quarter. The business had revenue of $553.30 million during the quarter. AAR had a return on equity of 12.29% and a net margin of 1.01%. As a group, sell-side analysts anticipate that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Insider Transactions at AAR

In related news, CEO John Mcclain Holmes III sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $71.70, for a total transaction of $717,000.00. Following the completion of the transaction, the chief executive officer directly owned 298,603 shares of the company’s stock, valued at $21,409,835.10. This trade represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.60% of the stock is currently owned by corporate insiders.

AAR 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.