Public Employees Retirement System of Ohio Purchases New Holdings in AAR Corp. $AIR

Key Points

• Public Employees Retirement System of Ohio acquired 23,743 shares of AAR Corp. worth approximately $3.4 million, representing about 0.06% of the company.
• Institutional ownership remains high at 90.74%, with State Street and other major investment firms increasing their positions in AAR.
• AAR reported quarterly EPS of $1.53, beating estimates of $1.38, while revenue rose 23% year over year to $928 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $135.60.

Public Employees Retirement System of Ohio purchased a new position in shares of AAR Corp. (NYSE:AIR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 23,743 shares of the aerospace company's stock, valued at approximately $3,394,000. Public Employees Retirement System of Ohio owned about 0.06% of AAR as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of AAR by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company's stock valued at $1,163,000 after buying an additional 904 shares in the last quarter. Millennium Management LLC raised its position in AAR by 35.8% during the first quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company's stock worth $7,557,000 after acquiring an additional 35,608 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in AAR by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,384 shares of the aerospace company's stock worth $5,453,000 after acquiring an additional 4,288 shares in the last quarter. State Street Corp lifted its stake in AAR by 10.9% in the second quarter. State Street Corp now owns 1,917,821 shares of the aerospace company's stock valued at $131,927,000 after acquiring an additional 188,406 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in AAR by 4.2% in the second quarter. Sei Investments Co. now owns 265,375 shares of the aerospace company's stock valued at $18,255,000 after acquiring an additional 10,725 shares during the last quarter. Institutional investors own 90.74% of the company's stock.

Wall Street Analyst Weigh In

AIR has been the topic of several recent analyst reports. Zacks Research upgraded shares of AAR from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 10th. KeyCorp reiterated a "sector weight" rating on shares of AAR in a research note on Wednesday, July 22nd. Jefferies Financial Group lifted their price target on AAR from $150.00 to $155.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Truist Financial boosted 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. Finally, Weiss Ratings upgraded AAR from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, July 23rd. One equities 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $135.60.

AAR Price Performance

NYSE:AIR opened at $126.69 on Friday. AAR Corp. has a one year low of $73.05 and a one year high of $154.00. The company has a market cap of $5.05 billion, a P/E ratio of 26.23 and a beta of 1.11. The firm's fifty day moving average price is $137.82 and its two-hundred day moving average price is $123.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.84 and a quick ratio of 1.24.

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