32,048 Shares in AAR Corp. (NYSE:AIR) Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. bought a new position in AAR Corp. (NYSE:AIR) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 32,048 shares of the aerospace company’s stock, valued at approximately $2,330,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Comerica Bank boosted its position in shares of AAR by 0.9% in the fourth quarter. Comerica Bank now owns 17,601 shares of the aerospace company’s stock valued at $1,098,000 after acquiring an additional 152 shares during the period. Global Financial Private Client LLC boosted its holdings in AAR by 4.0% in the 2nd quarter. Global Financial Private Client LLC now owns 5,838 shares of the aerospace company’s stock valued at $424,000 after purchasing an additional 225 shares during the period. Louisiana State Employees Retirement System grew its position in shares of AAR by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the aerospace company’s stock valued at $1,214,000 after purchasing an additional 300 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of AAR by 283.1% in the first quarter. EverSource Wealth Advisors LLC now owns 544 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 402 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in shares of AAR by 40.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,488 shares of the aerospace company’s stock worth $108,000 after buying an additional 428 shares in the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on AIR. Royal Bank of Canada boosted their target price on AAR from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. StockNews.com cut shares of AAR from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Stifel Nicolaus dropped their target price on shares of AAR from $86.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AAR has an average rating of “Moderate Buy” and an average target price of $83.50.

AAR Price Performance

AIR opened at $67.69 on Friday. The stock has a market capitalization of $2.43 billion, a P/E ratio of 39.82 and a beta of 1.55. The company has a current ratio of 2.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.83. AAR Corp. has a 12-month low of $54.71 and a 12-month high of $76.34. The stock has a 50-day moving average price of $65.64 and a 200-day moving average price of $66.48.

AAR (NYSE:AIR) last issued its earnings results on Thursday, July 18th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.02. The business had revenue of $656.50 million during the quarter, compared to analyst estimates of $660.05 million. AAR had a return on equity of 10.16% and a net margin of 2.00%. AAR’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Equities analysts predict that AAR Corp. will post 3.74 earnings per share for the current fiscal year.

AAR Company 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.