Royal Bank of Canada Grows Holdings in AAR Corp. (NYSE:AIR)

Royal Bank of Canada boosted its stake in AAR Corp. (NYSE:AIR - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 480,338 shares of the aerospace company's stock after acquiring an additional 15,318 shares during the period. Royal Bank of Canada owned 1.34% of AAR worth $29,436,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in AAR in the fourth quarter worth about $1,539,000. Charles Schwab Investment Management Inc. lifted its stake in shares of AAR by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 538,125 shares of the aerospace company's stock valued at $32,976,000 after buying an additional 19,863 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of AAR by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 3,840,885 shares of the aerospace company's stock valued at $235,369,000 after buying an additional 58,694 shares in the last quarter. Barclays PLC lifted its stake in shares of AAR by 269.4% during the 3rd quarter. Barclays PLC now owns 66,223 shares of the aerospace company's stock valued at $4,328,000 after buying an additional 48,298 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of AAR during the 4th quarter valued at approximately $6,849,000. Institutional investors own 90.74% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on AIR shares. KeyCorp dropped their price target on shares of AAR from $83.00 to $80.00 and set an "overweight" rating on the stock in a research note 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 reduced 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 given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $80.20.

AAR Price Performance

NYSE:AIR traded down $0.29 during mid-day trading on Thursday, hitting $62.44. 34,085 shares of the stock traded hands, compared to its average volume of 274,450. The business's 50-day moving average price is $57.17 and its 200 day moving average price is $63.08. The company has a market cap of $2.25 billion, a PE ratio of 222.97 and a beta of 1.40. AAR Corp. has a 12-month low of $46.51 and a 12-month high of $76.34. The company has a quick ratio of 1.27, a current ratio of 2.68 and a debt-to-equity ratio of 0.84.

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

AAR Company 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.