Nuveen Asset Management LLC Raises Stake in AAR Corp. (NYSE:AIR)

Nuveen Asset Management LLC grew its position in AAR Corp. (NYSE:AIR - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,371 shares of the aerospace company's stock after purchasing an additional 8,217 shares during the period. Nuveen Asset Management LLC owned about 0.31% of AAR worth $6,886,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Sterling Capital Management LLC grew its position in AAR by 761.2% in the 4th quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company's stock worth $54,000 after purchasing an additional 784 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of AAR by 124.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the aerospace company's stock worth $62,000 after buying an additional 561 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of AAR in the 4th quarter worth approximately $80,000. Venturi Wealth Management LLC increased its position in shares of AAR by 1,965.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,322 shares of the aerospace company's stock valued at $81,000 after purchasing an additional 1,258 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of AAR by 42.5% during the 4th quarter. KBC Group NV now owns 1,887 shares of the aerospace company's stock worth $116,000 after purchasing an additional 563 shares during the period. 90.74% of the stock is owned by institutional investors.

AAR Stock Performance

NYSE AIR traded up $2.14 during trading on Tuesday, hitting $64.40. 412,607 shares of the company's stock traded hands, compared to its average volume of 276,581. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.27 and a current ratio of 2.68. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 229.99 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 business has a 50 day moving average of $56.63 and a 200-day moving average of $62.92.

AAR (NYSE:AIR - Get Free Report) last posted its quarterly earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.03. The company had revenue of $678.20 million for the quarter, compared to analyst estimates of $699.13 million. AAR had a net margin of 0.41% and a return on equity of 10.46%. The company's quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 earnings per share. As a group, equities research analysts anticipate that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.