AAR Corp. (NYSE:AIR) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its stake in AAR Corp. (NYSE:AIR) by 32.9% in the 3rd quarter, Holdings Channel reports. The firm owned 732,957 shares of the aerospace company’s stock after purchasing an additional 181,518 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in AAR were worth $47,906,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings in AAR by 283.1% in the first quarter. EverSource Wealth Advisors LLC now owns 544 shares of the aerospace company’s stock valued at $33,000 after buying an additional 402 shares in the last quarter. Quest Partners LLC purchased a new position in AAR in the 2nd quarter valued at approximately $33,000. Innealta Capital LLC acquired a new position in AAR during the second quarter worth $49,000. Geneos Wealth Management Inc. purchased a new stake in AAR during the first quarter worth $63,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in AAR by 348.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,416 shares of the aerospace company’s stock valued at $103,000 after purchasing an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on AIR. StockNews.com raised AAR from a “sell” rating to a “hold” rating in a research note on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 price target on shares of AAR in a report on Tuesday, September 24th. Benchmark reissued a “buy” rating and set a $83.00 price objective on shares of AAR in a research note on Friday, October 4th. Finally, Stifel Nicolaus cut their price objective on 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 hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.50.

AAR Stock Performance

Shares of NYSE AIR opened at $61.67 on Wednesday. The company has a 50-day simple moving average of $64.54 and a 200-day simple moving average of $66.86. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.06 and a quick ratio of 1.45. The company has a market cap of $2.18 billion, a PE ratio of 36.28 and a beta of 1.55. AAR Corp. has a 12 month low of $54.71 and a 12 month high of $76.34.

AAR (NYSE:AIR) last announced its earnings results on Monday, September 23rd. The aerospace company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The firm had revenue of $661.70 million for the quarter, compared to analyst estimates of $645.60 million. AAR had a net margin of 2.67% and a return on equity of 10.22%. AAR’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 earnings per share. On average, equities analysts anticipate that AAR Corp. will post 3.63 earnings per share for the current year.

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.