Corient Private Wealth LP Purchases Shares of 37,837 AAR Corp. $AIR

Key Points

• Corient Private Wealth LP acquired 37,837 shares of AAR Corp., valued at approximately $5.4 million, representing a 0.09% stake.
• Institutional investors own 90.74% of AAR, with Vanguard, First Eagle, First Trust, Oppenheimer Asset Management, and Deutsche Bank among firms increasing or initiating positions.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $135.60 price target. AAR’s latest quarter exceeded expectations, reporting $1.53 in EPS and $928 million in revenue, up 23% year over year.

Corient Private Wealth LP acquired a new position in shares of AAR Corp. (NYSE:AIR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 37,837 shares of the aerospace company's stock, valued at approximately $5,408,000. Corient Private Wealth LP owned 0.09% of AAR as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AIR. Vanguard Group Inc. raised its position in AAR by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company's stock valued at $336,229,000 after purchasing an additional 281,871 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of AAR by 22.5% during the fourth quarter. First Eagle Investment Management LLC now owns 61,619 shares of the aerospace company's stock worth $5,101,000 after purchasing an additional 11,300 shares in the last quarter. First Trust Advisors LP boosted its position in shares of AAR by 20.4% in the first quarter. First Trust Advisors LP now owns 90,749 shares of the aerospace company's stock worth $9,933,000 after buying an additional 15,345 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of AAR in the second quarter worth about $3,630,000. Finally, Deutsche Bank AG acquired a new stake in shares of AAR in the second quarter valued at about $8,640,000. Hedge funds and other institutional investors own 90.74% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Jefferies Financial Group raised their target price on AAR from $150.00 to $155.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Wall Street Zen cut AAR from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Zacks Research raised shares of AAR from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 10th. Truist Financial lifted their price objective on shares of AAR from $128.00 to $145.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Finally, KeyCorp reissued a "sector weight" rating on shares of AAR in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $135.60.

AAR Price Performance

Shares of NYSE AIR opened at $129.26 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 2.84 and a debt-to-equity ratio of 0.52. AAR Corp. has a fifty-two week low of $73.05 and a fifty-two week high of $154.00. The business has a 50 day moving average price of $138.73 and a two-hundred day moving average price of $122.96. The firm has a market cap of $5.16 billion, a PE ratio of 26.76 and a beta of 1.11.

AAR (NYSE:AIR - Get Free Report) last released its earnings results on Tuesday, July 21st. The aerospace company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.38 by $0.15. The company 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 business's revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.16 EPS. Sell-side 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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