Geode Capital Management LLC Raises Holdings in AAR Corp. (NYSE:AIR)

Geode Capital Management LLC lifted its holdings in AAR Corp. (NYSE:AIR) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 796,962 shares of the aerospace company’s stock after purchasing an additional 27,747 shares during the quarter. Geode Capital Management LLC owned 2.22% of AAR worth $52,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Earnest Partners LLC raised its position in AAR by 3.2% in the 2nd quarter. Earnest Partners LLC now owns 1,588,893 shares of the aerospace company’s stock worth $115,513,000 after buying an additional 48,630 shares during the last quarter. Westwood Holdings Group Inc. purchased a new position in shares of AAR during the second quarter valued at approximately $77,754,000. American Century Companies Inc. lifted its position in AAR by 1,956.5% during the second quarter. American Century Companies Inc. now owns 909,953 shares of the aerospace company’s stock valued at $66,154,000 after purchasing an additional 865,705 shares during the period. Loomis Sayles & Co. L P boosted its holdings in AAR by 20.5% in the third quarter. Loomis Sayles & Co. L P now owns 790,267 shares of the aerospace company’s stock worth $51,652,000 after purchasing an additional 134,215 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in AAR by 32.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 732,957 shares of the aerospace company’s stock worth $47,906,000 after purchasing an additional 181,518 shares during the period. 90.74% of the stock is owned by institutional investors.

AAR Price Performance

Shares of AAR stock opened at $60.57 on Monday. The stock’s fifty day moving average is $64.63 and its 200 day moving average is $65.87. AAR Corp. has a one year low of $54.71 and a one year high of $76.34. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.45 and a current ratio of 3.06. The stock has a market cap of $2.17 billion, a P/E ratio of 33.28 and a beta of 1.59.

AAR (NYSE:AIR) last posted its quarterly earnings data on Monday, September 23rd. The aerospace company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The firm had revenue of $661.70 million for the quarter, compared to analysts’ expectations of $645.60 million. AAR had a return on equity of 10.22% and a net margin of 2.67%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. Sell-side analysts anticipate that AAR Corp. will post 3.63 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AIR shares. Royal Bank of Canada restated an “outperform” rating and issued a $75.00 price target on shares of AAR in a research note on Monday, November 4th. StockNews.com upgraded AAR from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Benchmark reiterated a “buy” rating and issued a $83.00 price objective on shares of AAR in a research note on Friday, October 4th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $81.00.

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.