AAR Corp. (NYSE:AIR) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in AAR Corp. (NYSE:AIR) by 83.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 297,482 shares of the aerospace company’s stock after acquiring an additional 135,445 shares during the quarter. Thrivent Financial for Lutherans owned 0.84% of AAR worth $21,627,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in AAR by 283.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 544 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 402 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of AAR during the second quarter worth about $33,000. Innealta Capital LLC acquired a new position in shares of AAR in the second quarter worth about $49,000. Geneos Wealth Management Inc. acquired a new position in shares of AAR in the first quarter worth about $63,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted 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.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AIR shares. Stifel Nicolaus dropped their price objective on AAR from $86.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, July 19th. StockNews.com cut shares of AAR from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. Finally, Royal Bank of Canada raised their price objective on shares of AAR from $80.00 to $85.00 and gave the stock an “outperform” rating in a 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.50.

AAR Stock Performance

Shares of AIR opened at $69.09 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.98 and a quick ratio of 1.41. AAR Corp. has a 12-month low of $54.71 and a 12-month high of $76.34. The business’s fifty day moving average price is $65.05 and its 200 day moving average price is $66.62. The stock has a market capitalization of $2.45 billion, a PE ratio of 40.64 and a beta of 1.55.

AAR (NYSE:AIR) last posted its quarterly earnings results on Thursday, July 18th. The aerospace company reported $0.88 EPS for the quarter, beating 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 net margin of 2.00% and a return on equity of 10.16%. The company’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.83 EPS. Equities research analysts forecast that AAR Corp. will post 3.74 EPS 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.