Canada Pension Plan Investment Board Invests $1.31 Million in AAR Corp. $AIR

Key Points

• Canada Pension Plan Investment Board purchased 9,200 shares of AAR Corp. valued at approximately $1.31 million, while institutional investors collectively own 90.74% of the company.
• Analyst sentiment is broadly positive, with AAR receiving a consensus “Moderate Buy” rating and an average price target of $135.60; Truist Financial recently raised its target to $145.
• AAR reported quarterly earnings of $1.53 per share, beating estimates of $1.38, while revenue rose 23% year over year to $928 million. Shares opened at $129.26 after recently trading down 3%.

Canada Pension Plan Investment Board acquired a new position in AAR Corp. (NYSE:AIR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,200 shares of the aerospace company's stock, valued at approximately $1,315,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lido Advisors LLC boosted its position in AAR by 2.8% during the fourth quarter. Lido Advisors LLC now owns 3,618 shares of the aerospace company's stock worth $318,000 after purchasing an additional 98 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of AAR by 12.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,162 shares of the aerospace company's stock worth $97,000 after purchasing an additional 126 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of AAR by 1.7% in the first quarter. PNC Financial Services Group Inc. now owns 8,073 shares of the aerospace company's stock valued at $884,000 after purchasing an additional 132 shares during the period. CWM LLC raised its position in shares of AAR by 19.3% in the fourth quarter. CWM LLC now owns 950 shares of the aerospace company's stock valued at $79,000 after purchasing an additional 154 shares during the period. Finally, Assetmark Inc. lifted its stake in shares of AAR by 10.7% during the 1st quarter. Assetmark Inc. now owns 1,606 shares of the aerospace company's stock valued at $176,000 after buying an additional 155 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on AIR shares. Weiss Ratings raised shares of AAR from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, July 23rd. Zacks Research raised shares of AAR from a "hold" rating to a "strong-buy" rating in a report on Friday, July 10th. Truist Financial increased their target price on AAR from $128.00 to $145.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. KeyCorp reaffirmed a "sector weight" rating on shares of AAR in a report on Wednesday, July 22nd. Finally, Wall Street Zen lowered AAR from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, AAR currently has a consensus rating of "Moderate Buy" and an average price target of $135.60.

AAR Trading Down 3.0%

Shares of AAR stock opened at $129.26 on Tuesday. AAR Corp. has a 12-month low of $73.05 and a 12-month high of $154.00. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 26.76 and a beta of 1.11. 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 company's 50-day moving average price is $138.73 and its 200-day moving average price is $122.96.

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

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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