PDT Partners LLC Makes New Investment in AAR Corp. $AIR

Key Points

• PDT Partners initiated a position in AAR Corp. during the second quarter, purchasing 59,060 shares valued at approximately $8.4 million, or 0.15% of the company.
• Institutional ownership remains high at 90.74%, with major firms including BlackRock, Wellington Management, UBS and State Street increasing or establishing positions.
• AAR reported quarterly EPS of $1.53, exceeding the $1.38 consensus estimate, while revenue rose 23% year over year to $928 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $135.60.

PDT Partners LLC 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 & Exchange Commission. The firm bought 59,060 shares of the aerospace company's stock, valued at approximately $8,441,000. PDT Partners LLC owned 0.15% of AAR as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of AAR in the 2nd quarter worth approximately $925,068,000. Wellington Management Group LLP raised its holdings in AAR by 144.3% during the third 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 during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in AAR during the second quarter worth $84,251,000. UBS Group AG boosted its position in 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 in the last quarter. Finally, State Street Corp grew its holdings in 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 purchasing an additional 339,595 shares during the last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. KeyCorp reaffirmed a "sector weight" rating on shares of AAR in a research note on Wednesday, July 22nd. Zacks Research raised shares of AAR from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 10th. Wall Street Zen downgraded shares of AAR from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Truist Financial lifted their target price on shares of AAR from $128.00 to $145.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Finally, Jefferies Financial Group increased their price target on shares of AAR from $150.00 to $155.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $135.60.

AAR Trading Up 0.6%

AAR stock opened at $135.41 on Wednesday. The stock has a 50-day moving average price of $138.74 and a 200 day moving average price of $122.33. AAR Corp. has a 52 week low of $73.05 and a 52 week high of $154.00. The stock has a market cap of $5.40 billion, a PE ratio of 28.04 and a beta of 1.11. The company has a current ratio of 2.84, a quick ratio of 1.24 and a debt-to-equity ratio of 0.52.

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 (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.15. The company had revenue of $928.00 million for 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 firm's revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period last year, the company earned $1.16 EPS. Equities research analysts predict that AAR Corp. will post 5.92 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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