Squarepoint Ops LLC Sells 38,311 Shares of AAR Corp. $AIR

Key Points

• Squarepoint Ops LLC cut its AAR stake by 84.1% in the second quarter, selling 38,311 shares and retaining 7,237 shares valued at approximately $1.03 million.
• Institutional ownership remains high at 90.74%, with BlackRock, Geode Capital Management and other major investors holding or adding significant positions.
• AAR reported quarterly EPS of $1.53 and revenue of $928 million, exceeding analyst expectations; analysts maintain a “Moderate Buy” consensus with a $135.60 average price target.

Squarepoint Ops LLC lessened its position in shares of AAR Corp. (NYSE:AIR - Free Report) by 84.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,237 shares of the aerospace company's stock after selling 38,311 shares during the quarter. Squarepoint Ops LLC's holdings in AAR were worth $1,034,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AIR. BlackRock Inc. purchased a new position in AAR in the second quarter worth $925,068,000. Geode Capital Management LLC boosted its position in shares of AAR by 9.4% in the 4th quarter. Geode Capital Management LLC now owns 920,743 shares of the aerospace company's stock worth $76,239,000 after purchasing an additional 78,810 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of AAR by 4.9% in the 1st quarter. Principal Financial Group Inc. now owns 675,686 shares of the aerospace company's stock worth $73,961,000 after purchasing an additional 31,583 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in AAR during the 2nd quarter worth $84,251,000. Finally, Emerald Advisers LLC grew its stake in AAR by 6.3% during the 1st quarter. Emerald Advisers LLC now owns 445,693 shares of the aerospace company's stock worth $48,786,000 after buying an additional 26,223 shares during the last quarter. Hedge funds and other institutional investors own 90.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AIR shares. Truist Financial increased 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. Jefferies Financial Group boosted their price target on AAR from $150.00 to $155.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Guggenheim started coverage on shares of AAR in a report on Monday. They set a "neutral" rating on the stock. Zacks Research raised shares of AAR from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 10th. Finally, KeyCorp reiterated a "sector weight" rating on shares of AAR in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $135.60.

AAR Stock Performance

Shares of AIR stock opened at $112.09 on Friday. The business has a fifty day moving average of $134.59 and a 200 day moving average of $123.64. AAR Corp. has a 1 year low of $74.25 and a 1 year high of $154.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.84 and a quick ratio of 1.24. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 23.21 and a beta of 1.11.

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, topping analysts' consensus estimates of $1.38 by $0.15. AAR had a return on equity of 12.67% and a net margin of 5.67%.The firm had revenue of $928.00 million for the quarter, compared to the consensus estimate of $893.03 million. During the same quarter in the prior year, the business earned $1.16 earnings per share. The company's revenue was up 23.0% compared to the same quarter last year. As a group, research analysts expect that AAR Corp. will post 5.92 earnings per share for the current year.

AAR Profile

AAR Corp. is a global provider of aviation services supporting commercial aviation, government and defense customers. The company supplies aircraft parts and equipment, manages inventory and logistics, and provides maintenance, repair and overhaul services for aircraft and components.

AAR's offerings include parts distribution, supply-chain management, aircraft maintenance, airframe and component repair, and mobility solutions for government and defense operators. Its services are designed to help airlines, aircraft operators and government agencies maintain fleet readiness and manage aviation assets.

Founded in 1955, AAR is headquartered in Wood Dale, Illinois, and serves customers across North America, Europe, Asia and other international markets.

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