Gabelli Funds LLC Has $2.78 Million Stock Position in AAR Corp. $AIR

Key Points

• Gabelli Funds LLC increased its stake in AAR Corp. by 10.5%, purchasing an additional 4,700 shares, bringing its total to 49,576 shares valued at about $2.78 million.
• AAR Corp. reported a quarterly earnings per share (EPS) of $1.16, exceeding analysts' expectations of $1.00, and achieved a 15% revenue increase year-over-year.
• Wall Street analysts have a consensus rating of "Buy" for AAR, with price targets ranging from $81 to $86, reflecting optimistic market sentiment.

Gabelli Funds LLC grew its holdings in shares of AAR Corp. (NYSE:AIR - Free Report) by 10.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 49,576 shares of the aerospace company's stock after acquiring an additional 4,700 shares during the quarter. Gabelli Funds LLC owned about 0.14% of AAR worth $2,776,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Westwood Holdings Group Inc. boosted its position in AAR by 10.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,589,320 shares of the aerospace company's stock worth $88,986,000 after acquiring an additional 148,166 shares during the period. Invesco Ltd. raised its stake in shares of AAR by 8.4% in the 1st quarter. Invesco Ltd. now owns 1,160,420 shares of the aerospace company's stock worth $64,972,000 after buying an additional 89,802 shares in the last quarter. Emerald Advisers LLC raised its position in shares of AAR by 4.2% during the first quarter. Emerald Advisers LLC now owns 510,814 shares of the aerospace company's stock worth $28,600,000 after purchasing an additional 20,654 shares during the period. Royal Bank of Canada raised its position in shares of AAR by 3.3% during the fourth quarter. Royal Bank of Canada now owns 480,338 shares of the aerospace company's stock worth $29,436,000 after purchasing an additional 15,318 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of AAR by 11.3% during the fourth quarter. Janus Henderson Group PLC now owns 389,313 shares of the aerospace company's stock worth $23,858,000 after purchasing an additional 39,505 shares during the period. Institutional investors and hedge funds own 90.74% of the company's stock.

Insider Buying and Selling

In related news, Director Jennifer L. Vogel sold 7,000 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $78.07, for a total transaction of $546,490.00. Following the completion of the sale, the director owned 22,970 shares in the company, valued at $1,793,267.90. This represents a 23.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jessica A. Garascia sold 3,631 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $77.08, for a total value of $279,877.48. Following the sale, the chief accounting officer owned 39,117 shares of the company's stock, valued at approximately $3,015,138.36. The trade was a 8.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,182 shares of company stock worth $7,331,452 over the last ninety days. Company insiders own 3.60% of the company's stock.

Analyst Upgrades and Downgrades

AIR has been the topic of several recent analyst reports. Wall Street Zen raised AAR from a "hold" rating to a "buy" rating in a research report on Tuesday, August 19th. Truist Financial upped their price target on AAR from $78.00 to $81.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Royal Bank Of Canada upped their price target on AAR from $75.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Finally, KeyCorp upped their price target on AAR from $80.00 to $86.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $83.75.

AAR Stock Down 1.2%

NYSE AIR traded down $0.94 on Wednesday, reaching $75.44. The stock had a trading volume of 256,760 shares, compared to its average volume of 310,551. The business has a 50 day moving average price of $74.65 and a 200 day moving average price of $65.84. The company has a current ratio of 2.72, a quick ratio of 1.26 and a debt-to-equity ratio of 0.80. AAR Corp. has a 1 year low of $46.51 and a 1 year high of $86.43. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 228.49 and a beta of 1.50.

AAR (NYSE:AIR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The aerospace company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.16. The business had revenue of $754.50 million for the quarter, compared to analyst estimates of $695.81 million. AAR had a return on equity of 11.66% and a net margin of 0.45%.The firm's revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 EPS. On average, analysts forecast that AAR Corp. will post 3.77 EPS for the current fiscal year.

About AAR

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Parts Supply segment leases and sells aircraft components and replacement parts. The Repair & Engineering segment provides airframe maintenance services, such as airframe inspection, painting, line maintenance, airframe modification, structural repair, avionics service and installation, exterior and interior refurbishment, and engineering and support services; component repair services comprising maintenance, repair, and overhaul (MRO) services, engine and airframe accessories, and interior refurbishment; and landing gear overhaul services, including repair services on wheels and brakes.