Corient Private Wealth LP Increases Stock Position in AAR Corp. $AIR

Key Points

• Corient Private Wealth increased its AAR stake by 1,523.4% in the second quarter, purchasing 35,816 additional shares to own 38,167 shares valued at approximately $5.46 million. Institutional investors collectively hold 90.74% of AAR’s stock.
• AAR reported quarterly earnings of $1.53 per share, beating estimates of $1.38, while revenue rose 23% year over year to $928 million and exceeded expectations.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $135.60; Truist and Jefferies recently raised their targets to $145 and $155, respectively.

Corient Private Wealth LP lifted its stake in shares of AAR Corp. (NYSE:AIR - Free Report) by 1,523.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,167 shares of the aerospace company's stock after purchasing an additional 35,816 shares during the period. Corient Private Wealth LP owned about 0.10% of AAR worth $5,455,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of AAR during the 1st quarter valued at about $25,000. Global Retirement Partners LLC purchased a new position in AAR during the second quarter worth about $39,000. Optiver Holding B.V. boosted its holdings in AAR by 218.6% in the 1st quarter. Optiver Holding B.V. now owns 274 shares of the aerospace company's stock valued at $30,000 after purchasing an additional 188 shares during the last quarter. Nykredit A S acquired a new position in AAR in the 2nd quarter valued at about $63,000. Finally, McMillan Office Inc. grew its stake in shares of AAR by 66.7% in the 1st quarter. McMillan Office Inc. now owns 500 shares of the aerospace company's stock valued at $55,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 90.74% of the company's stock.

AAR Stock Performance

Shares of AIR stock opened at $112.63 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.84 and a quick ratio of 1.24. AAR Corp. has a fifty-two week low of $74.25 and a fifty-two week high of $154.00. The stock's 50-day moving average is $134.12 and its two-hundred day moving average is $123.57. The firm has a market cap of $4.49 billion, a P/E ratio of 23.32 and a beta of 1.11.

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

Analysts Set New Price Targets

Several research firms recently commented on AIR. Truist Financial upped their price target on shares of AAR from $128.00 to $145.00 and gave the company a "buy" rating in a research report on Monday, July 27th. KeyCorp reissued a "sector weight" rating on shares of AAR in a research report on Wednesday, July 22nd. Zacks Research upgraded shares of AAR from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 10th. Guggenheim began coverage on shares of AAR in a report on Monday. They issued a "neutral" rating for the company. Finally, Jefferies Financial Group increased 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. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $135.60.

About AAR

AAR Corp. is a global provider of aviation services supporting commercial aviation, government and defense customers. The company supplies aircraft parts and equipment, manages inventory and logistics, and provides maintenance, repair and overhaul services for aircraft and components.

AAR's offerings include parts distribution, supply-chain management, aircraft maintenance, airframe and component repair, and mobility solutions for government and defense operators. Its services are designed to help airlines, aircraft operators and government agencies maintain fleet readiness and manage aviation assets.

Founded in 1955, AAR is headquartered in Wood Dale, Illinois, and serves customers across North America, Europe, Asia and other international markets.

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