Artemis Investment Management LLP Purchases 209,477 Shares of AAR Corp. $AIR

Artemis Investment Management LLP boosted its position in AAR Corp. (NYSE:AIR) by 1,031.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 229,783 shares of the aerospace company’s stock after purchasing an additional 209,477 shares during the period. Artemis Investment Management LLP’s holdings in AAR were worth $23,316,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of AAR during the 2nd quarter worth approximately $925,068,000. Principal Financial Group Inc. grew its position in shares of AAR by 4.9% in the first quarter. Principal Financial Group Inc. now owns 675,686 shares of the aerospace company’s stock valued at $73,961,000 after purchasing an additional 31,583 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of AAR during the 2nd quarter worth about $84,251,000. Emerald Advisers LLC grew its stake in shares of AAR by 6.3% during the 1st quarter. Emerald Advisers LLC now owns 445,693 shares of the aerospace company’s stock valued at $48,786,000 after buying an additional 26,223 shares during the period. Finally, Emerald Mutual Fund Advisers Trust raised its holdings in shares of AAR by 10.9% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 280,257 shares of the aerospace company’s stock worth $30,677,000 after purchasing an additional 27,485 shares during the period. Hedge funds and other institutional investors own 90.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. KeyCorp reissued a “sector weight” rating on shares of AAR in a research report on Wednesday, July 22nd. Guggenheim restated a “neutral” rating on shares of AAR in a research note on Tuesday, September 29th. Zacks Research downgraded AAR from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Truist Financial raised their price target on shares of AAR from $128.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $145.00 target price on shares of AAR in a research report on Monday, September 28th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $140.60.

AAR Trading Up 1.6%

AIR stock traded up $1.56 during mid-day trading on Thursday, reaching $101.18. 180,039 shares of the stock traded hands, compared to its average volume of 487,526. The stock’s fifty day moving average is $127.68 and its 200-day moving average is $123.64. AAR Corp. has a 52-week low of $76.10 and a 52-week high of $154.00. The company has a current ratio of 2.83, a quick ratio of 1.28 and a debt-to-equity ratio of 0.50. The company has a market cap of $4.07 billion, a P/E ratio of 20.76 and a beta of 1.13.

AAR (NYSE:AIR) last posted its quarterly earnings data on Monday, September 28th. The aerospace company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.19. AAR had a net margin of 5.55% and a return on equity of 12.99%. The firm had revenue of $918.00 million for the quarter, compared to analysts’ expectations of $878.81 million. During the same period in the previous year, the company posted $1.08 EPS. The company’s quarterly revenue was up 24.1% compared to the same quarter last year. As a group, sell-side analysts expect that AAR Corp. will post 5.89 earnings per share for the current year.

About AAR

AAR Corp. is a global aviation services company headquartered in Wood Dale, Illinois. The company supports commercial airlines, government and defense organizations, and original equipment manufacturers through aftermarket aviation products and services.

AAR’s aviation activities include the distribution and sale of aircraft parts, maintenance, repair and overhaul services, component repair, engineering support, and supply-chain management. Its parts and services support a range of commercial, government, and military aircraft, helping customers maintain aircraft availability and operational readiness.

The company also provides expeditionary and mobility-related products and services for government customers, including systems and equipment used to support transportation and logistics operations.