Arrowstreet Capital Limited Partnership Lowers Stake in AAR Corp. $AIR

Key Points

• Arrowstreet Capital reduced its AAR stake by 73.6% in the first quarter, selling 88,600 shares and retaining 31,762 shares valued at approximately $3.48 million. Institutional investors collectively own 90.74% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $135.60; Truist and Jefferies recently raised their targets to $145 and $155, respectively.
• AAR exceeded quarterly expectations, reporting $1.53 in EPS versus the $1.38 estimate and $928 million in revenue, up 23% year over year. The stock opened at $143.22, near its 12-month high of $146.75.

Arrowstreet Capital Limited Partnership cut its holdings in shares of AAR Corp. (NYSE:AIR - Free Report) by 73.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,762 shares of the aerospace company's stock after selling 88,600 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.08% of AAR worth $3,477,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caxton Associates LLP increased its position in shares of AAR by 222.9% in the first quarter. Caxton Associates LLP now owns 28,110 shares of the aerospace company's stock valued at $3,077,000 after buying an additional 19,404 shares in the last quarter. Lido Advisors LLC lifted its position in shares of AAR by 17.9% during the 1st quarter. Lido Advisors LLC now owns 4,266 shares of the aerospace company's stock valued at $467,000 after buying an additional 648 shares in the last quarter. State of Wyoming lifted its position in shares of AAR by 128.2% during the 1st quarter. State of Wyoming now owns 1,326 shares of the aerospace company's stock valued at $145,000 after buying an additional 745 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of AAR by 21.8% during the 1st quarter. Cetera Investment Advisers now owns 11,173 shares of the aerospace company's stock valued at $1,223,000 after buying an additional 1,999 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in AAR by 20.4% in the 1st quarter. First Trust Advisors LP now owns 90,749 shares of the aerospace company's stock valued at $9,933,000 after acquiring an additional 15,345 shares during the period. Hedge funds and other institutional investors own 90.74% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Truist Financial boosted their price target on shares of AAR from $128.00 to $145.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Wall Street Zen lowered shares of AAR from a "buy" rating to a "hold" rating in a research report on Saturday. Zacks Research upgraded shares of AAR from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 10th. Jefferies Financial Group boosted their target price on shares of AAR from $150.00 to $155.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings upgraded shares of AAR from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $135.60.

AAR Stock Performance

AIR opened at $143.22 on Tuesday. The firm has a market capitalization of $5.71 billion, a PE ratio of 29.65 and a beta of 1.11. AAR Corp. has a twelve month low of $71.43 and a twelve month high of $146.75. The firm's 50-day moving average price is $130.69 and its 200 day moving average price is $118.12. The company has a current ratio of 2.84, a quick ratio of 1.24 and a debt-to-equity ratio of 0.52.

AAR (NYSE:AIR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.15. AAR had a net margin of 5.67% and a return on equity of 12.67%. The company had revenue of $928.00 million during the quarter, compared to analysts' expectations of $893.03 million. During the same quarter in the prior year, the company earned $1.16 EPS. AAR's revenue was up 23.0% compared to the same quarter last year. As a group, sell-side analysts expect that AAR Corp. will post 5.92 EPS for the current fiscal year.

AAR Company 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.

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