Royal Bank of Canada Has $29.44 Million Position in AAR Corp. (NYSE:AIR)

Royal Bank of Canada increased its position in AAR Corp. (NYSE:AIR - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 480,338 shares of the aerospace company's stock after buying an additional 15,318 shares during the quarter. Royal Bank of Canada owned about 1.34% of AAR worth $29,436,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of AIR. Bank of America Corp DE boosted its stake in AAR by 293.3% during the fourth quarter. Bank of America Corp DE now owns 171,203 shares of the aerospace company's stock valued at $10,491,000 after buying an additional 127,668 shares in the last quarter. Invesco Ltd. boosted its position in shares of AAR by 13.5% in the 4th quarter. Invesco Ltd. now owns 1,070,618 shares of the aerospace company's stock valued at $65,607,000 after purchasing an additional 127,148 shares during the period. Raymond James Financial Inc. acquired a new position in shares of AAR in the 4th quarter valued at $6,849,000. Norges Bank acquired a new position in shares of AAR in the 4th quarter valued at $6,321,000. Finally, JPMorgan Chase & Co. boosted its position in shares of AAR by 215.9% in the 4th quarter. JPMorgan Chase & Co. now owns 128,676 shares of the aerospace company's stock valued at $7,885,000 after purchasing an additional 87,939 shares during the period. Institutional investors own 90.74% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AIR shares. KeyCorp decreased their price target on AAR from $83.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Wall Street Zen upgraded AAR from a "sell" rating to a "hold" rating in a research report on Saturday, April 19th. Finally, Truist Financial decreased their price target on AAR from $81.00 to $78.00 and set a "buy" rating for the company in a research report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, AAR currently has an average rating of "Moderate Buy" and an average target price of $80.20.

AAR Stock Up 3.3%

AAR stock traded up $1.97 during mid-day trading on Tuesday, hitting $61.73. The company's stock had a trading volume of 218,244 shares, compared to its average volume of 275,088. The firm's 50 day moving average is $57.40 and its 200 day moving average is $63.09. The company has a market cap of $2.23 billion, a PE ratio of 220.47 and a beta of 1.40. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.68 and a quick ratio of 1.27. AAR Corp. has a 52-week low of $46.51 and a 52-week high of $76.34.

AAR (NYSE:AIR - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.03. AAR had a return on equity of 10.46% and a net margin of 0.41%. The firm had revenue of $678.20 million during the quarter, compared to the consensus estimate of $699.13 million. The business's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 EPS. On average, analysts anticipate that AAR Corp. will post 3.77 earnings per share for the current year.

AAR Profile

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.