BlackRock Inc. Invests $925.07 Million in AAR Corp. $AIR

Key Points

• BlackRock acquired 6.47 million shares of AAR during the second quarter, valued at approximately $925.1 million and representing a 16.23% stake. Institutional investors collectively own 90.74% of the aerospace company.
• AAR reported stronger-than-expected quarterly results, with EPS of $1.53 versus the $1.38 consensus estimate and revenue of $928 million. Revenue increased 23% year over year.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and a $135.60 average price target, although some firms maintained or downgraded their ratings.

BlackRock Inc. bought a new position in AAR Corp. (NYSE:AIR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,472,176 shares of the aerospace company's stock, valued at approximately $925,068,000. BlackRock Inc. owned about 16.23% of AAR as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of AAR by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company's stock worth $336,229,000 after acquiring an additional 281,871 shares during the last quarter. State Street Corp boosted its position in AAR by 17.1% in the 4th quarter. State Street Corp now owns 2,320,927 shares of the aerospace company's stock valued at $192,150,000 after buying an additional 339,595 shares during the last quarter. Wellington Management Group LLP boosted its position in AAR by 17.4% in the 4th quarter. Wellington Management Group LLP now owns 1,745,352 shares of the aerospace company's stock valued at $144,498,000 after buying an additional 258,577 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of AAR by 36.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company's stock valued at $107,752,000 after buying an additional 311,258 shares during the period. Finally, Invesco Ltd. increased its stake in shares of AAR by 7.7% in the 4th quarter. Invesco Ltd. now owns 1,122,792 shares of the aerospace company's stock valued at $92,956,000 after buying an additional 80,265 shares during the period. Institutional investors and hedge funds own 90.74% of the company's stock.

AAR Stock Performance

Shares of AAR stock opened at $134.15 on Friday. The company has a market capitalization of $5.35 billion, a PE ratio of 27.77 and a beta of 1.11. AAR Corp. has a 12 month low of $72.00 and a 12 month high of $154.00. The company has a current ratio of 2.84, a quick ratio of 1.24 and a debt-to-equity ratio of 0.52. The stock's fifty day simple moving average is $138.58 and its 200 day simple moving average is $121.86.

AAR (NYSE:AIR - Get Free Report) last posted its earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.15. The firm had revenue of $928.00 million during the quarter, compared to analysts' expectations of $893.03 million. AAR had a return on equity of 12.67% and a net margin of 5.67%.The company's revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 earnings per share. On average, research analysts predict that AAR Corp. will post 5.92 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AIR shares. Wall Street Zen lowered AAR from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. KeyCorp restated a "sector weight" rating on shares of AAR in a research report on Wednesday, July 22nd. Weiss Ratings raised shares of AAR from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, July 23rd. Zacks Research upgraded shares of AAR from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 10th. Finally, Jefferies Financial Group boosted their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $135.60.

AAR 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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