AAR Corp. $AIR Stock Bought by Artemis Investment Management LLP

Key Points

• Artemis Investment Management increased its AAR Corp. stake by 1,031.6% in the third quarter, owning 229,783 shares worth approximately $23.3 million. Institutional investors collectively hold 90.74% of the company.
• AAR reported strong quarterly results, with revenue rising 24.1% year over year to $918 million and adjusted earnings of $1.49 per share, beating analyst estimates of $1.30.
• AAR shares recently traded at $101.18, while analysts maintain a “Moderate Buy” consensus with an average price target of $140.60; ratings remain mixed, ranging from Buy to Hold.

Artemis Investment Management LLP raised its holdings in AAR Corp. (NYSE:AIR - Free Report) by 1,031.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 229,783 shares of the aerospace company's stock after acquiring an additional 209,477 shares during the period. Artemis Investment Management LLP owned approximately 0.57% of AAR worth $23,316,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Oppenheimer Asset Management Inc. acquired a new stake in AAR during the second quarter worth $3,630,000. Deutsche Bank AG acquired a new stake in shares of AAR during the 2nd quarter worth about $8,640,000. B. Metzler seel. Sohn & Co. AG purchased a new stake in AAR in the 2nd quarter valued at about $1,286,000. First Trust Advisors LP lifted its holdings in shares of AAR by 20.4% in the 1st quarter. First Trust Advisors LP now owns 90,749 shares of the aerospace company's stock worth $9,933,000 after acquiring an additional 15,345 shares during the last quarter. Finally, Jupiter Topco LLC purchased a new stake in AAR in the second quarter valued at approximately $24,861,000. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

AAR Stock Up 1.6%

AIR stock traded up $1.56 during midday trading on Thursday, reaching $101.18. 180,039 shares of the company were exchanged, compared to its average volume of 487,526. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 20.76 and a beta of 1.13. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.28 and a current ratio of 2.83. AAR Corp. has a 1-year low of $76.10 and a 1-year high of $154.00. The stock's 50-day simple moving average is $127.68 and its 200 day simple moving average is $123.64.

AAR (NYSE:AIR - Get Free Report) last posted its earnings results on Monday, September 28th. The aerospace company reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.30 by $0.19. AAR had a net margin of 5.55% and a return on equity of 12.99%. The firm had revenue of $918.00 million for the quarter, compared to the consensus estimate of $878.81 million. During the same period last year, the firm posted $1.08 EPS. The company's revenue was up 24.1% on a year-over-year basis. On average, equities analysts forecast that AAR Corp. will post 5.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AIR. Jefferies Financial Group increased their target price on AAR from $155.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, September 29th. Weiss Ratings cut AAR from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, September 25th. Wall Street Zen raised AAR from a "hold" rating to a "buy" rating in a research report on Saturday, October 3rd. Zacks Research cut shares of AAR from a "strong-buy" rating to a "hold" rating in a report on Monday, September 28th. Finally, KeyCorp reissued a "sector weight" rating on shares of AAR in a research report on Wednesday, July 22nd. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, AAR presently has an average rating of "Moderate Buy" and an average price target of $140.60.

AAR Profile

AAR Corp. is a global aviation services company headquartered in Wood Dale, Illinois. The company supports commercial airlines, government and defense organizations, and original equipment manufacturers through aftermarket aviation products and services.

AAR's aviation activities include the distribution and sale of aircraft parts, maintenance, repair and overhaul services, component repair, engineering support, and supply-chain management. Its parts and services support a range of commercial, government, and military aircraft, helping customers maintain aircraft availability and operational readiness.

The company also provides expeditionary and mobility-related products and services for government customers, including systems and equipment used to support transportation and logistics operations.

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