5,679 Shares in AAR Corp. (NYSE:AIR) Bought by Freestone Grove Partners LP

Freestone Grove Partners LP bought a new stake in AAR Corp. (NYSE:AIR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,679 shares of the aerospace company's stock, valued at approximately $348,000.

Several other large investors have also modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in AAR by 9.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 40,737 shares of the aerospace company's stock valued at $2,663,000 after buying an additional 3,612 shares during the period. SG Americas Securities LLC purchased a new position in AAR during the fourth quarter worth about $1,539,000. Charles Schwab Investment Management Inc. lifted its position in AAR by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 538,125 shares of the aerospace company's stock valued at $32,976,000 after purchasing an additional 19,863 shares during the period. Shelton Wealth Management LLC purchased a new stake in AAR in the 4th quarter valued at approximately $1,068,000. Finally, Vanguard Group Inc. increased its position in AAR by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 3,840,885 shares of the aerospace company's stock worth $235,369,000 after purchasing an additional 58,694 shares during the period. Hedge funds and other institutional investors own 90.74% of the company's stock.

AAR Price Performance

Shares of NYSE:AIR traded up $0.25 during midday trading on Friday, hitting $59.82. 201,929 shares of the stock were exchanged, compared to its average volume of 275,570. 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. The company has a 50 day moving average price of $58.46 and a 200-day moving average price of $63.08. The stock has a market cap of $2.16 billion, a P/E ratio of 213.65 and a beta of 1.40.

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

Wall Street Analyst Weigh In

AIR has been the subject of several recent analyst reports. Truist Financial reduced their price target on AAR from $81.00 to $78.00 and set a "buy" rating for the company in a report on Friday, March 28th. StockNews.com upgraded shares of AAR from a "sell" rating to a "hold" rating in a research report on Saturday, April 19th. Finally, KeyCorp reduced their price objective on shares of AAR from $83.00 to $80.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.