Oppenheimer Asset Management Inc. Makes New Investment in AAR Corp. $AIR

Key Points

• Oppenheimer Asset Management acquired 25,399 shares of AAR Corp. worth approximately $3.63 million, while institutional investors collectively own 90.74% of the company.
• AAR reported quarterly EPS of $1.53, exceeding estimates of $1.38, while revenue rose 23% year over year to $928 million, above expectations.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $135.60, although shares recently opened at $145.67.

Oppenheimer Asset Management Inc. acquired a new stake in AAR Corp. (NYSE:AIR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 25,399 shares of the aerospace company's stock, valued at approximately $3,630,000. Oppenheimer Asset Management Inc. owned approximately 0.06% of AAR at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of AAR by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company's stock valued at $336,229,000 after purchasing an additional 281,871 shares in the last quarter. State Street Corp raised its position in AAR by 17.1% in the 4th quarter. State Street Corp now owns 2,320,927 shares of the aerospace company's stock worth $192,150,000 after purchasing an additional 339,595 shares during the last quarter. Wellington Management Group LLP raised its position in AAR by 17.4% in the 4th quarter. Wellington Management Group LLP now owns 1,745,352 shares of the aerospace company's stock worth $144,498,000 after purchasing an additional 258,577 shares during the last quarter. Franklin Resources Inc. lifted its holdings in AAR by 36.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company's stock worth $107,752,000 after buying an additional 311,258 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in AAR by 7.7% during the 4th quarter. Invesco Ltd. now owns 1,122,792 shares of the aerospace company's stock worth $92,956,000 after buying an additional 80,265 shares in the last quarter. 90.74% of the stock is owned by institutional investors.

AAR Price Performance

Shares of AIR stock opened at $145.67 on Friday. AAR Corp. has a 52-week low of $71.67 and a 52-week high of $154.00. The stock has a market cap of $5.81 billion, a PE ratio of 30.16 and a beta of 1.11. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.24 and a current ratio of 2.84. The firm's 50 day moving average price is $136.57 and its two-hundred day moving average price is $120.59.

AAR (NYSE:AIR - Get Free Report) last issued its earnings results on Tuesday, July 21st. The aerospace company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.38 by $0.15. The company had revenue of $928.00 million during the quarter, compared to analysts' expectations of $893.03 million. AAR had a net margin of 5.67% and a return on equity of 12.67%. The business's revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 EPS. As a group, analysts forecast that AAR Corp. will post 5.92 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on AIR. Jefferies Financial Group lifted their target price on AAR from $150.00 to $155.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Truist Financial upped their price target on AAR from $128.00 to $145.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Weiss Ratings raised AAR from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, July 23rd. Wall Street Zen cut AAR from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Finally, Zacks Research upgraded AAR from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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.

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