Nuveen LLC Purchases Shares of 111,190 AAR Corp. $AIR

Key Points

• Nuveen LLC acquired 111,190 shares of AAR Corp., totaling approximately $6.2 million, increasing their ownership to around 0.31%.
• AAR Corp. reported a quarterly earnings per share of $1.16, surpassing analysts' estimates of $1.00, with a revenue increase of 15.0% year-over-year.
• Several analysts have upgraded AAR Corp.'s stock rating to "buy," with target prices ranging from $81.00 to $86.00, reflecting positive market sentiment.

Nuveen LLC purchased a new stake in AAR Corp. (NYSE:AIR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 111,190 shares of the aerospace company's stock, valued at approximately $6,226,000. Nuveen LLC owned 0.31% of AAR as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of AIR. First Trust Advisors LP boosted its holdings in shares of AAR by 60.3% in the fourth quarter. First Trust Advisors LP now owns 26,173 shares of the aerospace company's stock valued at $1,604,000 after purchasing an additional 9,846 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of AAR by 5.8% in the fourth quarter. MetLife Investment Management LLC now owns 21,001 shares of the aerospace company's stock valued at $1,287,000 after purchasing an additional 1,156 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of AAR by 11.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,339 shares of the aerospace company's stock valued at $143,000 after purchasing an additional 246 shares during the period. Stifel Financial Corp boosted its holdings in shares of AAR by 119.3% in the fourth quarter. Stifel Financial Corp now owns 50,134 shares of the aerospace company's stock valued at $3,072,000 after purchasing an additional 27,275 shares during the period. Finally, Dark Forest Capital Management LP purchased a new stake in shares of AAR in the fourth quarter valued at approximately $207,000. Hedge funds and other institutional investors own 90.74% of the company's stock.

AAR Stock Performance

Shares of NYSE:AIR traded down $0.32 during midday trading on Friday, hitting $75.50. The stock had a trading volume of 206,261 shares, compared to its average volume of 357,761. The company has a market capitalization of $2.71 billion, a PE ratio of 228.78 and a beta of 1.53. AAR Corp. has a 1 year low of $46.51 and a 1 year high of $86.43. The stock has a 50 day moving average price of $74.33 and a two-hundred day moving average price of $65.71. The company has a current ratio of 2.72, a quick ratio of 1.26 and a debt-to-equity ratio of 0.80.

AAR (NYSE:AIR - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The aerospace company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.16. The company had revenue of $754.50 million during the quarter, compared to the consensus estimate of $695.81 million. AAR had a net margin of 0.45% and a return on equity of 11.66%. AAR's revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 earnings per share. As a group, equities analysts predict that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Insider Buying and Selling at AAR

In other news, CAO Jessica A. Garascia sold 3,631 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $77.08, for a total value of $279,877.48. Following the sale, the chief accounting officer owned 39,117 shares in the company, valued at approximately $3,015,138.36. The trade was a 8.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Mcclain Holmes III sold 10,000 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $71.70, for a total value of $717,000.00. Following the completion of the sale, the chief executive officer directly owned 298,603 shares of the company's stock, valued at approximately $21,409,835.10. This trade represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,182 shares of company stock worth $7,331,452 over the last three months. 3.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AIR. Truist Financial boosted their price target on AAR from $78.00 to $81.00 and gave the company a "buy" rating in a report on Friday, July 11th. KeyCorp boosted their price objective on shares of AAR from $80.00 to $86.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Wall Street Zen raised shares of AAR from a "hold" rating to a "buy" rating in a research note on Tuesday, August 19th. Finally, Royal Bank Of Canada upped their price target on AAR from $75.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, AAR has an average rating of "Buy" and a consensus target price of $83.75.

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.