AAR Corp. $AIR Shares Bought by Emerald Mutual Fund Advisers Trust

Key Points

• Emerald Mutual Fund Advisers Trust increased its stake in AAR Corp. by 10.9% in the first quarter, adding 27,485 shares and bringing its holdings to 280,257 shares worth about $30.7 million.
• Institutional ownership of AAR remains very high, with hedge funds and other institutions controlling 90.74% of the stock. Several large firms, including Vanguard, State Street, and Wellington Management, also boosted their positions.
• Wall Street sentiment is mixed but still constructive: AAR carries a Moderate Buy consensus rating, with a consensus price target of $131.20 after recent analyst price-target and rating changes.

Emerald Mutual Fund Advisers Trust grew its holdings in shares of AAR Corp. (NYSE:AIR - Free Report) by 10.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 280,257 shares of the aerospace company's stock after purchasing an additional 27,485 shares during the period. AAR comprises about 1.5% of Emerald Mutual Fund Advisers Trust's portfolio, making the stock its 11th biggest position. Emerald Mutual Fund Advisers Trust owned about 0.70% of AAR worth $30,677,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in AAR by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company's stock valued at $336,229,000 after buying an additional 281,871 shares during the period. State Street Corp increased its position in shares of AAR by 17.1% during the fourth quarter. State Street Corp now owns 2,320,927 shares of the aerospace company's stock worth $192,150,000 after acquiring an additional 339,595 shares during the period. Wellington Management Group LLP increased its position in shares of AAR by 17.4% during the fourth quarter. Wellington Management Group LLP now owns 1,745,352 shares of the aerospace company's stock worth $144,498,000 after acquiring an additional 258,577 shares during the period. Franklin Resources Inc. raised its stake in shares of AAR by 36.9% in the third 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 in the last quarter. Finally, Invesco Ltd. raised its stake in shares of 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 acquiring an additional 80,265 shares in the last quarter. Hedge funds and other institutional investors own 90.74% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AIR. Royal Bank Of Canada lifted their target price on AAR from $105.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday, March 25th. Truist Financial raised AAR to a "strong-buy" rating in a research report on Friday, May 1st. Zacks Research cut AAR from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 16th. KeyCorp downgraded AAR from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings lowered shares of AAR from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $131.20.

AAR Stock Down 3.5%

AAR stock opened at $130.96 on Tuesday. The stock has a market cap of $5.21 billion, a PE ratio of 29.04 and a beta of 1.09. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.70 and a quick ratio of 1.23. The stock's fifty day moving average is $122.99 and its two-hundred day moving average is $113.15. AAR Corp. has a 1-year low of $71.43 and a 1-year high of $146.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.