First Eagle Investment Management LLC Buys 11,300 Shares of AAR Corp. $AIR

Key Points

• First Eagle Investment Management increased its AAR Corp. stake by 22.5% in the fourth quarter, buying 11,300 more shares and bringing its holdings to 61,619 shares worth about $5.1 million.
• AAR reported strong quarterly results, with EPS of $1.25 beating estimates and revenue of $845.1 million topping expectations; revenue rose 24.6% year over year.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average target price of $131.20, even though some firms have recently mixed their ratings.

First Eagle Investment Management LLC raised its stake in shares of AAR Corp. (NYSE:AIR - Free Report) by 22.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,619 shares of the aerospace company's stock after buying an additional 11,300 shares during the quarter. First Eagle Investment Management LLC owned about 0.16% of AAR worth $5,101,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of AAR by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company's stock worth $1,163,000 after purchasing an additional 904 shares during the last quarter. Millennium Management LLC boosted its stake in AAR by 35.8% in the 1st quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company's stock worth $7,557,000 after purchasing an additional 35,608 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in AAR by 4.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,384 shares of the aerospace company's stock valued at $5,453,000 after purchasing an additional 4,288 shares during the last quarter. State Street Corp increased its stake in AAR by 10.9% during the 2nd quarter. State Street Corp now owns 1,917,821 shares of the aerospace company's stock valued at $131,927,000 after purchasing an additional 188,406 shares in the last quarter. Finally, Sei Investments Co. increased its stake in AAR by 4.2% during the 2nd quarter. Sei Investments Co. now owns 265,375 shares of the aerospace company's stock valued at $18,255,000 after purchasing an additional 10,725 shares in the last quarter. 90.74% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other AAR news, CEO John Mcclain Holmes III sold 60,000 shares of the firm's stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $112.41, for a total value of $6,744,600.00. Following the transaction, the chief executive officer directly owned 235,064 shares of the company's stock, valued at approximately $26,423,544.24. This trade represents a 20.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.60% of the company's stock.

Wall Street Analysts Forecast Growth

AIR has been the topic of several analyst reports. The Goldman Sachs Group assumed coverage on shares of AAR in a research note on Monday, January 26th. They issued a "neutral" rating and a $121.00 target price on the stock. Zacks Research lowered shares of AAR from a "strong-buy" rating to a "hold" rating in a report on Monday, March 16th. Wall Street Zen cut AAR from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 9th. Truist Financial upgraded AAR to a "strong-buy" rating in a research note on Friday, May 1st. Finally, KeyCorp lifted their target price on AAR from $120.00 to $132.00 and gave the stock an "overweight" rating in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $131.20.

AAR Trading Down 3.6%

Shares of AIR stock opened at $107.51 on Thursday. The company has a current ratio of 2.70, a quick ratio of 1.23 and a debt-to-equity ratio of 0.54. AAR Corp. has a 12-month low of $58.83 and a 12-month high of $127.21. The stock has a market capitalization of $4.27 billion, a P/E ratio of 23.84 and a beta of 1.14. The firm's 50 day moving average is $112.56 and its 200 day moving average is $100.48.

AAR (NYSE:AIR - Get Free Report) last announced its earnings results on Tuesday, March 24th. The aerospace company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.04. The business had revenue of $845.10 million during the quarter, compared to analyst estimates of $812.58 million. AAR had a net margin of 5.46% and a return on equity of 12.39%. The company's quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 EPS. Research analysts expect that AAR Corp. will post 4.95 earnings per share for the current 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.

Want to see what other hedge funds are holding AIR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AAR Corp. (NYSE:AIR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.