Raymond James Financial Inc. Has $8.87 Million Stock Position in AAR Corp. $AIR

Key Points

• Raymond James Financial Inc. has increased its stake in AAR Corp. by 41.8%, owning approximately $8.87 million in the company's stock as of its latest SEC filing.
• AAR Corp. reported an EPS of $1.16 for the quarter, surpassing analysts' expectations of $1.00, alongside a revenue increase of 15% year-over-year.
• Several institutional investors have significantly increased their positions in AAR, with 90.74% of the company's stock now held by institutional investors.

Raymond James Financial Inc. lifted its position in shares of AAR Corp. (NYSE:AIR - Free Report) by 41.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 158,461 shares of the aerospace company's stock after buying an additional 46,696 shares during the quarter. Raymond James Financial Inc. owned about 0.44% of AAR worth $8,872,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of AIR. Hughes Financial Services LLC acquired a new stake in shares of AAR during the first quarter worth $28,000. Putney Financial Group LLC acquired a new stake in shares of AAR during the fourth quarter worth $30,000. Virtus Fund Advisers LLC acquired a new stake in shares of AAR during the fourth quarter worth $36,000. GAMMA Investing LLC lifted its holdings in shares of AAR by 88.5% during the first quarter. GAMMA Investing LLC now owns 1,131 shares of the aerospace company's stock worth $63,000 after buying an additional 531 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of AAR by 11.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,339 shares of the aerospace company's stock worth $143,000 after buying an additional 246 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company's stock.

Wall Street Analyst Weigh In

AIR has been the subject of a number of research reports. KeyCorp lifted their target price on AAR from $80.00 to $86.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Truist Financial raised their price target on AAR from $78.00 to $81.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Royal Bank Of Canada raised their price target on AAR from $75.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Finally, Wall Street Zen upgraded AAR from a "hold" rating to a "buy" rating in a research report on Tuesday, August 19th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $83.75.

AAR Price Performance

AAR stock traded up $1.43 during midday trading on Thursday, reaching $77.11. The company's stock had a trading volume of 243,320 shares, compared to its average volume of 311,168. AAR Corp. has a 52 week low of $46.51 and a 52 week high of $86.43. The company has a current ratio of 2.72, a quick ratio of 1.26 and a debt-to-equity ratio of 0.80. The business has a 50-day moving average price of $74.82 and a 200-day moving average price of $65.91. The stock has a market cap of $2.77 billion, a PE ratio of 233.66 and a beta of 1.50.

AAR (NYSE:AIR - Get Free Report) last released its earnings results on Wednesday, July 16th. The aerospace company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.16. The firm had revenue of $754.50 million for the quarter, compared to analysts' expectations of $695.81 million. AAR had a return on equity of 11.66% and a net margin of 0.45%.The business's revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 earnings per share. On average, sell-side analysts predict that AAR Corp. will post 3.77 EPS for the current year.

Insider Transactions at AAR

In other news, Director Jennifer L. Vogel sold 7,000 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $78.07, for a total transaction of $546,490.00. Following the sale, the director directly owned 22,970 shares in the company, valued at approximately $1,793,267.90. The trade was a 23.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jessica A. Garascia sold 3,631 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $77.08, for a total value of $279,877.48. Following the sale, the chief accounting officer owned 39,117 shares in the company, valued at approximately $3,015,138.36. This trade represents a 8.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,182 shares of company stock valued at $7,331,452. 3.60% of the stock is currently owned by company insiders.

About AAR

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Parts Supply segment leases and sells aircraft components and replacement parts. The Repair & Engineering segment provides airframe maintenance services, such as airframe inspection, painting, line maintenance, airframe modification, structural repair, avionics service and installation, exterior and interior refurbishment, and engineering and support services; component repair services comprising maintenance, repair, and overhaul (MRO) services, engine and airframe accessories, and interior refurbishment; and landing gear overhaul services, including repair services on wheels and brakes.