Gamco Investors INC. ET AL Sells 14,050 Shares of AAR Corp. $AIR

Key Points

• Gamco Investors trimmed its stake in AAR Corp. by 5.8% in the first quarter, selling 14,050 shares and leaving it with 227,165 shares worth about $24.9 million.
• Institutional ownership remains very high, with 90.74% of AAR’s stock held by institutions and hedge funds; several other firms increased their positions during recent quarters.
• AAR posted strong quarterly results, reporting earnings of $1.53 per share on revenue of $928 million, both above analyst estimates, while analysts currently rate the stock a consensus “Buy” with a $132.20 price target.

Gamco Investors INC. ET AL lowered its stake in AAR Corp. (NYSE:AIR - Free Report) by 5.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 227,165 shares of the aerospace company's stock after selling 14,050 shares during the quarter. Gamco Investors INC. ET AL owned about 0.57% of AAR worth $24,865,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in AIR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in AAR by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company's stock valued at $1,163,000 after buying an additional 904 shares during the period. Millennium Management LLC raised its position in shares of AAR by 35.8% in the 1st quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company's stock valued at $7,557,000 after acquiring an additional 35,608 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake 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 worth $5,453,000 after acquiring an additional 4,288 shares during the last quarter. State Street Corp grew its holdings in AAR by 10.9% during the second 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 during the period. Finally, Sei Investments Co. increased its stake in AAR by 4.2% in the second 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 and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AIR shares. Wall Street Zen lowered shares of AAR from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 14th. Jefferies Financial Group increased 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. KeyCorp reiterated a "sector weight" rating on shares of AAR in a report on Wednesday. Truist Financial raised AAR to a "strong-buy" rating in a research note on Friday, May 1st. Finally, Zacks Research raised shares of AAR from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $132.20.

AAR Stock Down 0.5%

Shares of AAR stock opened at $128.86 on Friday. The firm has a market cap of $5.14 billion, a PE ratio of 26.68 and a beta of 1.09. The business's 50 day simple moving average is $126.74 and its 200 day simple moving average is $116.05. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.23 and a current ratio of 2.84. AAR Corp. has a 52-week low of $71.43 and a 52-week high of $146.75.

AAR (NYSE:AIR - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $893.03 million. During the same quarter in the prior year, the firm posted $1.16 EPS. The business's revenue was up 23.0% on a year-over-year basis. On average, analysts predict that AAR Corp. will post 5.91 earnings per share for the current fiscal year.

AAR Company 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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