Squarepoint Ops LLC Makes New $627,000 Investment in AAR Corp. (NYSE:AIR)

Squarepoint Ops LLC acquired a new position in AAR Corp. (NYSE:AIR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,225 shares of the aerospace company's stock, valued at approximately $627,000.

Several other large investors have also recently made changes to their positions in AIR. Bank of America Corp DE lifted its holdings in shares of AAR by 293.3% in the 4th quarter. Bank of America Corp DE now owns 171,203 shares of the aerospace company's stock worth $10,491,000 after acquiring an additional 127,668 shares during the last quarter. Invesco Ltd. lifted its position in shares of AAR by 13.5% during the fourth quarter. Invesco Ltd. now owns 1,070,618 shares of the aerospace company's stock worth $65,607,000 after purchasing an additional 127,148 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in shares of AAR by 8.7% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,441,154 shares of the aerospace company's stock worth $88,314,000 after purchasing an additional 115,476 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of AAR during the fourth quarter worth about $6,849,000. Finally, Norges Bank acquired a new stake in shares of AAR during the fourth quarter worth about $6,321,000. 90.74% of the stock is currently owned by institutional investors and hedge funds.

AAR Stock Up 1.6%

NYSE:AIR traded up $1.03 during mid-day trading on Thursday, hitting $66.35. The stock had a trading volume of 235,013 shares, compared to its average volume of 276,673. The stock has a 50-day simple moving average of $56.79 and a two-hundred day simple moving average of $62.94. The company has a market capitalization of $2.40 billion, a PE ratio of 236.95 and a beta of 1.40. AAR Corp. has a twelve month low of $46.51 and a twelve month high of $76.34. The company has a current ratio of 2.68, a quick ratio of 1.27 and a debt-to-equity ratio of 0.84.

AAR (NYSE:AIR - Get Free Report) last issued its earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.03. The firm had revenue of $678.20 million for the quarter, compared to analysts' expectations of $699.13 million. AAR had a net margin of 0.41% and a return on equity of 10.46%. The firm's revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 earnings per share. On average, equities research analysts anticipate that AAR Corp. will post 3.77 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AIR. Truist Financial reduced their price target on shares of AAR from $81.00 to $78.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. KeyCorp reduced their price target on shares of AAR from $83.00 to $80.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Finally, Wall Street Zen raised shares of AAR from a "sell" rating to a "hold" rating in a research report on Saturday, April 19th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $80.20.

AAR Profile

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.