Jupiter Topco LLC Buys Shares of 173,927 AAR Corp. $AIR

Key Points

• Jupiter Topco LLC acquired 173,927 shares of AAR Corp. in the second quarter, worth approximately $24.9 million and representing about 0.44% of the company. Institutional investors collectively own 90.74% of AAR.
• AAR reported quarterly EPS of $1.53, beating estimates by $0.15, while revenue reached $928 million and increased 23% year over year.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and recent price-target increases from Truist Financial and Jefferies; the consensus target is $135.60.

Jupiter Topco LLC purchased a new stake in AAR Corp. (NYSE:AIR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 173,927 shares of the aerospace company's stock, valued at approximately $24,861,000. Jupiter Topco LLC owned approximately 0.44% of AAR as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AIR. Lido Advisors LLC boosted its position in shares of AAR by 2.8% in the 4th quarter. Lido Advisors LLC now owns 3,618 shares of the aerospace company's stock worth $318,000 after buying an additional 98 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in AAR by 12.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,162 shares of the aerospace company's stock valued at $97,000 after acquiring an additional 126 shares in the last quarter. PNC Financial Services Group Inc. raised its position in AAR by 1.7% during the first quarter. PNC Financial Services Group Inc. now owns 8,073 shares of the aerospace company's stock worth $884,000 after acquiring an additional 132 shares during the last quarter. CWM LLC raised its position in AAR by 19.3% during the fourth quarter. CWM LLC now owns 950 shares of the aerospace company's stock worth $79,000 after acquiring an additional 154 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of AAR by 10.7% in the first quarter. Assetmark Inc. now owns 1,606 shares of the aerospace company's stock valued at $176,000 after purchasing an additional 155 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company's stock.

AAR Stock Down 1.9%

NYSE AIR opened at $133.36 on Friday. The company has a quick ratio of 1.24, a current ratio of 2.84 and a debt-to-equity ratio of 0.52. AAR Corp. has a fifty-two week low of $73.05 and a fifty-two week high of $154.00. The business has a 50 day moving average price of $138.84 and a two-hundred day moving average price of $122.79. The stock has a market cap of $5.32 billion, a PE ratio of 27.61 and a beta of 1.11.

AAR (NYSE:AIR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.15. The company had revenue of $928.00 million for the quarter, compared to analyst estimates of $893.03 million. AAR had a net margin of 5.67% and a return on equity of 12.67%. The business's quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 earnings per share. As a group, sell-side analysts predict that AAR Corp. will post 5.92 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on AIR shares. Weiss Ratings upgraded shares of AAR from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, July 23rd. Truist Financial upped their target price on AAR from $128.00 to $145.00 and gave the company a "buy" rating in a research note on Monday, July 27th. KeyCorp reaffirmed a "sector weight" rating on shares of AAR in a research report on Wednesday, July 22nd. Zacks Research upgraded AAR from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 10th. Finally, Jefferies Financial Group raised their target price on shares of AAR from $150.00 to $155.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $135.60.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source