EFG International AG Acquires Shares of 28,734 AAR Corp. $AIR

Key Points

• EFG International AG acquired 28,734 shares of AAR Corp. in the second quarter, valued at approximately $4.1 million and representing about 0.07% of the company. Institutional investors collectively own 90.74% of AAR.
• AAR reported quarterly earnings of $1.53 per share, beating estimates of $1.38, while revenue rose 23% year over year to $928 million, above expectations.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $135.60; shares recently opened at $135.41.

EFG International AG bought a new position in shares of AAR Corp. (NYSE:AIR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 28,734 shares of the aerospace company's stock, valued at approximately $4,111,000. EFG International AG owned approximately 0.07% of AAR as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. bought a new position in AAR in the 2nd quarter valued at about $925,068,000. Wellington Management Group LLP lifted its holdings in shares of AAR by 144.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,486,775 shares of the aerospace company's stock worth $133,319,000 after acquiring an additional 878,188 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of AAR during the 2nd quarter worth approximately $84,251,000. UBS Group AG increased its stake in AAR by 709.2% in the third quarter. UBS Group AG now owns 488,239 shares of the aerospace company's stock valued at $43,780,000 after acquiring an additional 427,906 shares during the last quarter. Finally, State Street Corp increased its stake in AAR by 17.1% in the fourth quarter. State Street Corp now owns 2,320,927 shares of the aerospace company's stock valued at $192,150,000 after acquiring an additional 339,595 shares during the last quarter. Institutional investors own 90.74% of the company's stock.

AAR Price Performance

Shares of AIR opened at $135.41 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 2.84 and a debt-to-equity ratio of 0.52. The stock has a market cap of $5.40 billion, a PE ratio of 28.04 and a beta of 1.11. AAR Corp. has a 12-month low of $73.05 and a 12-month high of $154.00. The business has a 50-day simple moving average of $138.74 and a two-hundred day simple moving average of $122.33.

AAR (NYSE:AIR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The aerospace company reported $1.53 EPS 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 firm had revenue of $928.00 million for the quarter, compared to analyst estimates of $893.03 million. During the same period last year, the firm posted $1.16 earnings per share. The business's revenue for the quarter was up 23.0% on a year-over-year basis. Analysts anticipate that AAR Corp. will post 5.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AIR. Zacks Research upgraded AAR from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 10th. Jefferies Financial Group boosted their price target on AAR from $150.00 to $155.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Weiss Ratings upgraded AAR from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, July 23rd. Wall Street Zen lowered AAR from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Truist Financial lifted their target price on AAR from $128.00 to $145.00 and gave the company a "buy" rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, four have given 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 target price 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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