Intech Investment Management LLC Has $2.95 Million Stock Position in AAR Corp. $AIR

Key Points

• Intech Investment Management LLC increased its stake in AAR Corp. by 122.7%, bringing its total ownership to 52,651 shares valued at approximately $2.95 million.
• AAR Corp. reported earnings per share of $1.16 for the most recent quarter, surpassing analysts’ expectations of $1.00, with revenue also exceeding forecasts at $754.5 million.
• Analysts have given AAR a consensus rating of "Buy" with a price target averaging $83.75, reflecting positive sentiment towards the company’s growth potential.

Intech Investment Management LLC increased its position in shares of AAR Corp. (NYSE:AIR - Free Report) by 122.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,651 shares of the aerospace company's stock after buying an additional 29,005 shares during the period. Intech Investment Management LLC owned 0.15% of AAR worth $2,948,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of AIR. Harbor Capital Advisors Inc. bought a new stake in AAR during the first quarter valued at about $526,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in AAR during the 1st quarter valued at approximately $209,000. Raymond James Financial Inc. grew its holdings in AAR by 41.8% in the 1st quarter. Raymond James Financial Inc. now owns 158,461 shares of the aerospace company's stock valued at $8,872,000 after buying an additional 46,696 shares during the last quarter. Russell Investments Group Ltd. increased its position in AAR by 69,568.8% in the 1st quarter. Russell Investments Group Ltd. now owns 22,294 shares of the aerospace company's stock worth $1,248,000 after buying an additional 22,262 shares during the period. Finally, GAMMA Investing LLC increased its position in AAR by 10,454.2% in the 1st quarter. GAMMA Investing LLC now owns 63,325 shares of the aerospace company's stock worth $3,546,000 after buying an additional 62,725 shares during the period. Institutional investors own 90.74% of the company's stock.

AAR Trading Down 1.5%

Shares of AIR opened at $74.17 on Monday. The stock has a 50 day simple moving average of $75.51 and a 200-day simple moving average of $66.48. The company has a current ratio of 2.72, a quick ratio of 1.26 and a debt-to-equity ratio of 0.80. The stock has a market cap of $2.67 billion, a PE ratio of 224.77 and a beta of 1.50. AAR Corp. has a 1 year low of $46.51 and a 1 year high of $86.43.

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

Analysts Set New Price Targets

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

Insider Activity

In other AAR news, CFO Sean M. Gillen sold 18,000 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $77.37, for a total value of $1,392,660.00. Following the transaction, the chief financial officer directly owned 99,868 shares in the company, valued at $7,726,787.16. The trade was a 15.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jennifer L. Vogel sold 7,000 shares of the firm's 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 sale, the director directly owned 22,970 shares of the company's stock, valued at approximately $1,793,267.90. The trade was a 23.36% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,182 shares of company stock worth $7,331,452. Company insiders own 3.60% of the company's stock.

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.

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