AAR Corp. $AIR Holdings Raised by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System sharply increased its AAR stake by 13,418.9% in the second quarter, acquiring 6.31 million additional shares. It now owns about 15.94% of the company, valued at approximately $908.6 million.
• AAR reported stronger-than-expected quarterly results, with earnings of $1.53 per share versus the $1.38 consensus estimate and revenue of $928 million. Revenue rose 23% year over year.
• Analysts remain broadly positive, with AAR receiving a “Moderate Buy” consensus rating and an average price target of $135.60, although the stock recently opened at $125.40, down 0.1%.

California State Teachers Retirement System lifted its position in shares of AAR Corp. (NYSE:AIR - Free Report) by 13,418.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,357,241 shares of the aerospace company's stock after acquiring an additional 6,310,216 shares during the period. California State Teachers Retirement System owned about 15.94% of AAR worth $908,640,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. bought a new stake in AAR during the first quarter valued at $25,000. McMillan Office Inc. bought a new position in shares of AAR in the 4th quarter worth about $25,000. Osterweis Capital Management Inc. bought a new position in shares of AAR in the 2nd quarter worth about $26,000. Morse Asset Management Inc acquired a new position in shares of AAR in the 3rd quarter valued at about $27,000. Finally, Optiver Holding B.V. boosted its holdings in shares of AAR by 218.6% in the 1st quarter. Optiver Holding B.V. now owns 274 shares of the aerospace company's stock valued at $30,000 after buying an additional 188 shares during the period. 90.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AIR has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of AAR from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Jefferies Financial Group raised their target price on shares of AAR from $150.00 to $155.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. KeyCorp restated a "sector weight" rating on shares of AAR in a research note on Wednesday, July 22nd. Weiss Ratings upgraded AAR from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, July 23rd. Finally, Truist Financial boosted their price target on shares of AAR from $128.00 to $145.00 and gave the company a "buy" rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, AAR presently has an average rating of "Moderate Buy" and an average price target of $135.60.

AAR Stock Down 0.1%

AAR stock opened at $125.40 on Monday. AAR Corp. has a 52 week low of $73.26 and a 52 week high of $154.00. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 25.96 and a beta of 1.11. The company's 50-day moving average price is $136.29 and its two-hundred day moving average price is $123.69. 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 - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.15. AAR had a net margin of 5.67% and a return on equity of 12.67%. The company had revenue of $928.00 million during the quarter, compared to analyst estimates of $893.03 million. During the same period in the prior year, the business posted $1.16 EPS. The business's revenue for the quarter was up 23.0% compared to the same quarter last year. On average, analysts expect that AAR Corp. will post 5.92 EPS for the current fiscal year.

About AAR

AAR Corp. is a global provider of aviation services supporting commercial aviation, government and defense customers. The company supplies aircraft parts and equipment, manages inventory and logistics, and provides maintenance, repair and overhaul services for aircraft and components.

AAR's offerings include parts distribution, supply-chain management, aircraft maintenance, airframe and component repair, and mobility solutions for government and defense operators. Its services are designed to help airlines, aircraft operators and government agencies maintain fleet readiness and manage aviation assets.

Founded in 1955, AAR is headquartered in Wood Dale, Illinois, and serves customers across North America, Europe, Asia and other international markets.

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