Legal & General Group Plc Invests $13.71 Million in AAR Corp. $AIR

Key Points

• Legal & General Group acquired 95,913 AAR shares worth approximately $13.71 million, giving it a 0.24% stake. Institutional investors and hedge funds collectively own 90.74% of the company.
• AAR has a consensus “Moderate Buy” rating from analysts, with a $135.60 average price target; recent firms raised targets as high as $155.
• AAR exceeded quarterly expectations with earnings of $1.53 per share versus $1.38 expected, while revenue rose 23% year over year to $928 million.

Legal & General Group Plc bought a new stake in AAR Corp. (NYSE:AIR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 95,913 shares of the aerospace company's stock, valued at approximately $13,709,000. Legal & General Group Plc owned 0.24% of AAR as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in AAR in the 2nd quarter worth about $925,068,000. Wellington Management Group LLP grew its position in shares of AAR by 144.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,486,775 shares of the aerospace company's stock worth $133,319,000 after purchasing an additional 878,188 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of AAR during the second quarter worth approximately $84,251,000. UBS Group AG increased its holdings in shares of AAR by 709.2% during the third quarter. UBS Group AG now owns 488,239 shares of the aerospace company's stock worth $43,780,000 after purchasing an additional 427,906 shares during the period. Finally, State Street Corp raised its position in shares of AAR by 17.1% in the fourth quarter. State Street Corp now owns 2,320,927 shares of the aerospace company's stock valued at $192,150,000 after buying an additional 339,595 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AIR has been the topic of a number of analyst reports. Truist Financial increased their price target on AAR from $128.00 to $145.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Jefferies Financial Group lifted their price objective on AAR from $150.00 to $155.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Wall Street Zen downgraded AAR from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Zacks Research raised AAR from a "hold" rating to a "strong-buy" rating in a report on Friday, July 10th. Finally, Weiss Ratings upgraded AAR from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $135.60.

AAR Stock Performance

Shares of NYSE:AIR opened at $133.36 on Monday. AAR Corp. has a 1 year low of $73.05 and a 1 year high of $154.00. The stock has a market capitalization of $5.32 billion, a price-to-earnings ratio of 27.61 and a beta of 1.11. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.84 and a quick ratio of 1.24. The company's 50 day simple moving average is $138.84 and its 200 day simple moving average is $122.85.

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

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