Raymond James Financial Inc. Makes New $6.85 Million Investment in AAR Corp. (NYSE:AIR)

Raymond James Financial Inc. bought a new position in AAR Corp. (NYSE:AIR - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 111,765 shares of the aerospace company's stock, valued at approximately $6,849,000. Raymond James Financial Inc. owned approximately 0.31% of AAR at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AIR. Invesco Ltd. raised its position in AAR by 13.5% during the 4th quarter. Invesco Ltd. now owns 1,070,618 shares of the aerospace company's stock valued at $65,607,000 after purchasing an additional 127,148 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of AAR by 13.4% in the 3rd quarter. Franklin Resources Inc. now owns 969,741 shares of the aerospace company's stock valued at $59,591,000 after acquiring an additional 114,460 shares during the period. Norges Bank purchased a new position in shares of AAR in the 4th quarter valued at $6,321,000. JPMorgan Chase & Co. increased its holdings in shares of AAR by 215.9% in the 4th quarter. JPMorgan Chase & Co. now owns 128,676 shares of the aerospace company's stock valued at $7,885,000 after acquiring an additional 87,939 shares during the period. Finally, Principal Financial Group Inc. grew its stake in AAR by 18.5% during the 3rd quarter. Principal Financial Group Inc. now owns 500,200 shares of the aerospace company's stock worth $32,693,000 after buying an additional 77,974 shares during the last quarter. Institutional investors own 90.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on AIR. Truist Financial lowered their price target on shares of AAR from $81.00 to $78.00 and set a "buy" rating on the stock in a report on Friday, March 28th. KeyCorp decreased their price objective on shares of AAR from $83.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Finally, StockNews.com upgraded shares of AAR from a "sell" rating to a "hold" rating in a research report on Saturday, April 19th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $80.20.

AAR Stock Up 0.0 %

Shares of AIR traded up $0.01 during midday trading on Tuesday, reaching $53.50. 23,665 shares of the company were exchanged, compared to its average volume of 274,097. The stock has a 50-day moving average price of $59.59 and a 200-day moving average price of $63.38. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 190.83 and a beta of 1.32. AAR Corp. has a 1-year low of $46.51 and a 1-year high of $76.34. The company has a current ratio of 2.68, a quick ratio of 1.27 and a debt-to-equity ratio of 0.84.

AAR (NYSE:AIR - Get Free Report) last posted its earnings results on Thursday, March 27th. The aerospace company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.96 by $0.03. The company had revenue of $678.20 million during the quarter, compared to analyst estimates of $699.13 million. AAR had a return on equity of 10.46% and a net margin of 0.41%. The business's revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 earnings per share. Research analysts expect that AAR Corp. will post 3.77 earnings per share for the current year.

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.