Keebeck Wealth Management Invests $699,000 in AAR Corp. $AIR

Keebeck Wealth Management purchased a new position in shares of AAR Corp. (NYSE:AIR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,894 shares of the aerospace company’s stock, valued at approximately $699,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of AAR in the second quarter worth $925,068,000. Wellington Management Group LLP grew its position in AAR by 144.3% in the third quarter. Wellington Management Group LLP now owns 1,486,775 shares of the aerospace company’s stock valued at $133,319,000 after purchasing an additional 878,188 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in AAR by 297.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 594,668 shares of the aerospace company’s stock valued at $49,233,000 after purchasing an additional 445,026 shares in the last quarter. UBS Group AG increased its stake in AAR by 709.2% in the 3rd quarter. UBS Group AG now owns 488,239 shares of the aerospace company’s stock valued at $43,780,000 after buying an additional 427,906 shares during the last quarter. Finally, State Street Corp increased its stake in AAR by 17.1% in the 4th quarter. State Street Corp now owns 2,320,927 shares of the aerospace company’s stock valued at $192,150,000 after buying an additional 339,595 shares during the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.

AAR Price Performance

Shares of AIR opened at $134.15 on Friday. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 27.77 and a beta of 1.11. AAR Corp. has a 1-year low of $72.00 and a 1-year high of $154.00. The company’s fifty day simple moving average is $138.58 and its 200 day simple moving average is $121.86. 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 (NYSE:AIR) last posted its quarterly earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.15. The firm had revenue of $928.00 million for the quarter, compared to analyst estimates of $893.03 million. AAR had a net margin of 5.67% and a return on equity of 12.67%. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 earnings per share. On average, research analysts forecast that AAR Corp. will post 5.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AIR shares. Weiss Ratings raised shares of AAR from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. KeyCorp restated a “sector weight” rating on shares of AAR in a report on Wednesday, July 22nd. Truist Financial lifted their target price on AAR from $128.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Zacks Research upgraded AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Finally, Wall Street Zen cut AAR from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, AAR currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.60.

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.