Dimensional Fund Advisors LP Trims Stock Position in AAR Corp. $AIR

Key Points

• Dimensional Fund Advisors trimmed its AAR Corp. stake by 1.8% in the first quarter, but still held about 1.94 million shares worth roughly $212.8 million, or 4.89% of the company.
• AAR reported better-than-expected quarterly results, with EPS of $1.53 versus estimates of $1.38 and revenue of $928 million, up 23% year over year.
• Wall Street sentiment remains constructive: several analysts upgraded or reaffirmed bullish views, and the stock currently carries a consensus Buy rating with a $132.20 price target.

Dimensional Fund Advisors LP decreased its position in shares of AAR Corp. (NYSE:AIR - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,944,689 shares of the aerospace company's stock after selling 36,028 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.89% of AAR worth $212,848,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. purchased a new position in AAR during the 1st quarter worth approximately $25,000. McMillan Office Inc. acquired a new stake in shares of AAR in the fourth quarter valued at approximately $25,000. Morse Asset Management Inc acquired a new stake in shares of AAR in the third quarter valued at approximately $27,000. Danske Bank A S purchased a new position in shares of AAR during the fourth quarter worth approximately $28,000. Finally, NBC Securities Inc. purchased a new position in shares of AAR during the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 90.74% of the company's stock.

AAR Trading Down 0.5%

NYSE AIR opened at $128.86 on Friday. The stock has a market capitalization of $5.14 billion, a P/E ratio of 26.68 and a beta of 1.09. AAR Corp. has a 52-week low of $71.43 and a 52-week high of $146.75. The firm has a 50-day moving average price of $126.74 and a 200 day moving average price of $116.05. The company has a quick ratio of 1.23, a current ratio of 2.84 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 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 company had revenue of $928.00 million for the quarter, compared to analyst estimates of $893.03 million. During the same quarter in the previous year, the company earned $1.16 EPS. The firm's revenue for the quarter was up 23.0% compared to the same quarter last year. Equities research analysts expect that AAR Corp. will post 5.91 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on AIR shares. Truist Financial upgraded shares of AAR to a "strong-buy" rating in a research report on Friday, May 1st. Jefferies Financial Group raised their price objective on shares of AAR from $150.00 to $155.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Weiss Ratings upgraded shares of AAR from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday. KeyCorp reiterated a "sector weight" rating on shares of AAR in a research note on Wednesday. Finally, Wall Street Zen lowered AAR from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 14th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $132.20.

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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