AAR Corp. $AIR Shares Acquired by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its AAR stake by 25.4% in the first quarter, acquiring 9,525 additional shares for a total of 47,025 shares valued at approximately $5.15 million. Institutional investors and hedge funds collectively own 90.74% of the company.
• Analysts maintain a “Moderate Buy” consensus on AAR, with an average price target of $135.60; Jefferies and Truist recently raised their targets to $155 and $145, respectively.
• AAR’s latest quarterly results exceeded expectations, with adjusted EPS of $1.53 versus the $1.38 estimate and revenue of $928 million, up 23% year over year. Shares opened at $146.86, near the company’s 52-week high of $154.00.

California State Teachers Retirement System boosted its stake in AAR Corp. (NYSE:AIR - Free Report) by 25.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 47,025 shares of the aerospace company's stock after acquiring an additional 9,525 shares during the quarter. California State Teachers Retirement System owned 0.12% of AAR worth $5,147,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in AAR by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company's stock worth $336,229,000 after purchasing an additional 281,871 shares during the last quarter. State Street Corp lifted its stake in shares of AAR by 17.1% in the fourth quarter. State Street Corp now owns 2,320,927 shares of the aerospace company's stock worth $192,150,000 after buying an additional 339,595 shares in the last quarter. Wellington Management Group LLP grew its stake in AAR by 17.4% during the 4th quarter. Wellington Management Group LLP now owns 1,745,352 shares of the aerospace company's stock valued at $144,498,000 after acquiring an additional 258,577 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of AAR by 36.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company's stock valued at $107,752,000 after acquiring an additional 311,258 shares during the last quarter. Finally, Invesco Ltd. raised its position in AAR by 7.7% in the fourth quarter. Invesco Ltd. now owns 1,122,792 shares of the aerospace company's stock valued at $92,956,000 after purchasing an additional 80,265 shares during the period. 90.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AIR. Wall Street Zen downgraded shares of AAR from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Zacks Research upgraded shares of AAR from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 10th. KeyCorp reiterated a "sector weight" rating on shares of AAR in a research report on Wednesday, July 22nd. Jefferies Financial Group increased their target price on shares of AAR from $150.00 to $155.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Finally, Truist Financial boosted their price objective 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $135.60.

AAR Trading Up 0.0%

Shares of AIR opened at $146.86 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.84 and a quick ratio of 1.24. AAR Corp. has a 1-year low of $71.57 and a 1-year high of $154.00. The firm has a 50 day simple moving average of $132.75 and a 200-day simple moving average of $119.04. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of 30.41 and a beta of 1.11.

AAR (NYSE:AIR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.15. The business had revenue of $928.00 million for the quarter, compared to analyst estimates of $893.03 million. AAR had a return on equity of 12.67% and a net margin of 5.67%.The business's revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.16 earnings per share. Equities analysts forecast that AAR Corp. will post 5.92 EPS for the current fiscal year.

AAR Profile

AAR Corp. NYSE: AIR is a global provider of aviation products and services to commercial, government and defense customers. The company offers a comprehensive portfolio of maintenance, repair and overhaul (MRO) solutions, component repair and overhaul, and engineering services designed to support a wide variety of fixed-wing and rotary aircraft. Leveraging FAA and EASA certifications, AAR delivers turnkey maintenance programs and ad hoc repair services that enhance aircraft availability and reliability.

In its Aviation Supply Chain Services segment, AAR sources, stores and distributes parts for both commercial airlines and military operators.

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