Freestone Grove Partners LP Buys Shares of 5,679 AAR Corp. (NYSE:AIR)

Freestone Grove Partners LP acquired a new position in shares of AAR Corp. (NYSE:AIR - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,679 shares of the aerospace company's stock, valued at approximately $348,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Inspire Investing LLC lifted its position in shares of AAR by 3.3% during the fourth quarter. Inspire Investing LLC now owns 6,505 shares of the aerospace company's stock valued at $399,000 after buying an additional 205 shares during the last quarter. Arizona State Retirement System lifted its position in AAR by 2.1% during the fourth quarter. Arizona State Retirement System now owns 10,420 shares of the aerospace company's stock valued at $639,000 after acquiring an additional 219 shares during the last quarter. Sheets Smith Wealth Management boosted its stake in AAR by 3.2% in the fourth quarter. Sheets Smith Wealth Management now owns 7,015 shares of the aerospace company's stock valued at $430,000 after acquiring an additional 220 shares in the last quarter. US Bancorp DE grew its holdings in AAR by 3.8% in the fourth quarter. US Bancorp DE now owns 6,118 shares of the aerospace company's stock worth $375,000 after purchasing an additional 225 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its position in shares of AAR by 6.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,655 shares of the aerospace company's stock worth $224,000 after purchasing an additional 226 shares in the last quarter. Institutional investors own 90.74% of the company's stock.

AAR Stock Up 3.1 %

Shares of AIR stock opened at $56.80 on Monday. AAR Corp. has a fifty-two week low of $46.51 and a fifty-two week high of $76.34. The firm has a market capitalization of $2.05 billion, a PE ratio of 202.86 and a beta of 1.40. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.27 and a current ratio of 2.68. The stock's 50-day simple moving average is $58.95 and its 200-day simple moving average is $63.19.

AAR (NYSE:AIR - Get Free Report) last posted its quarterly earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.03. The company had revenue of $678.20 million during the quarter, compared to analyst estimates of $699.13 million. AAR had a net margin of 0.41% and a return on equity of 10.46%. AAR's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the firm posted $0.85 EPS. Equities analysts expect that AAR Corp. will post 3.77 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on AIR shares. StockNews.com upgraded AAR from a "sell" rating to a "hold" rating in a research note on Saturday, April 19th. KeyCorp dropped their price target on AAR from $83.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Finally, Truist Financial decreased their price objective on shares of AAR from $81.00 to $78.00 and set a "buy" rating for the company in a research report on Friday, March 28th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $80.20.

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.

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