First Trust Advisors LP Buys 9,846 Shares of AAR Corp. (NYSE:AIR)

First Trust Advisors LP raised its position in AAR Corp. (NYSE:AIR - Free Report) by 60.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 26,173 shares of the aerospace company's stock after acquiring an additional 9,846 shares during the period. First Trust Advisors LP owned approximately 0.07% of AAR worth $1,604,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Inspire Investing LLC boosted its stake in AAR by 3.3% in the fourth quarter. Inspire Investing LLC now owns 6,505 shares of the aerospace company's stock valued at $399,000 after acquiring an additional 205 shares during the last quarter. Arizona State Retirement System grew its holdings in AAR by 2.1% during the fourth quarter. Arizona State Retirement System now owns 10,420 shares of the aerospace company's stock valued at $639,000 after purchasing an additional 219 shares during the period. Sheets Smith Wealth Management increased its position in AAR by 3.2% in the fourth quarter. Sheets Smith Wealth Management now owns 7,015 shares of the aerospace company's stock worth $430,000 after buying an additional 220 shares during the last quarter. US Bancorp DE lifted its position in shares of AAR by 3.8% during the 4th quarter. US Bancorp DE now owns 6,118 shares of the aerospace company's stock valued at $375,000 after buying an additional 225 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings in AAR by 6.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,655 shares of the aerospace company's stock worth $224,000 after acquiring an additional 226 shares during the last quarter. Institutional investors own 90.74% of the company's stock.

Wall Street Analyst Weigh In

AIR has been the subject of a number of research reports. StockNews.com upgraded shares of AAR from a "sell" rating to a "hold" rating in a research report on Saturday, April 19th. Truist Financial reduced their price objective on shares of AAR from $81.00 to $78.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Finally, KeyCorp dropped their target price on AAR from $83.00 to $80.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, AAR currently has a consensus rating of "Moderate Buy" and an average target price of $80.20.

AAR Price Performance

NYSE AIR traded up $0.25 during trading on Friday, reaching $59.82. The company's stock had a trading volume of 201,929 shares, compared to its average volume of 275,570. The stock has a market capitalization of $2.16 billion, a PE ratio of 213.65 and a beta of 1.40. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.68 and a quick ratio of 1.27. The firm has a fifty day moving average of $58.46 and a 200 day moving average of $63.08. AAR Corp. has a one year low of $46.51 and a one year high of $76.34.

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

About AAR

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.