AAR Corp. (NYSE:AIR) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in shares of AAR Corp. (NYSE:AIR) by 9.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,737 shares of the aerospace company’s stock after buying an additional 3,612 shares during the quarter. JPMorgan Chase & Co. owned 0.11% of AAR worth $2,663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its stake in shares of AAR by 18.5% in the third quarter. Principal Financial Group Inc. now owns 500,200 shares of the aerospace company’s stock valued at $32,693,000 after acquiring an additional 77,974 shares in the last quarter. Franklin Resources Inc. raised its position in AAR by 13.4% in the 3rd quarter. Franklin Resources Inc. now owns 969,741 shares of the aerospace company’s stock valued at $59,591,000 after purchasing an additional 114,460 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of AAR by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 796,962 shares of the aerospace company’s stock valued at $52,101,000 after buying an additional 27,747 shares during the period. Barclays PLC boosted its stake in shares of AAR by 269.4% in the 3rd quarter. Barclays PLC now owns 66,223 shares of the aerospace company’s stock valued at $4,328,000 after buying an additional 48,298 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in shares of AAR by 6.4% during the third quarter. Public Employees Retirement System of Ohio now owns 53,473 shares of the aerospace company’s stock worth $3,495,000 after buying an additional 3,205 shares in the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AIR shares. StockNews.com upgraded shares of AAR from a “sell” rating to a “hold” rating in a research note on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $75.00 price objective on shares of AAR in a research report on Monday, November 4th. Benchmark reissued a “buy” rating and issued a $83.00 target price on shares of AAR in a report on Friday, October 4th. Finally, KeyCorp assumed coverage on AAR in a research note on Thursday, January 16th. They issued an “overweight” rating and a $83.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $81.50.

AAR Trading Down 0.5 %

Shares of AAR stock opened at $70.25 on Tuesday. The company has a current ratio of 2.68, a quick ratio of 1.45 and a debt-to-equity ratio of 0.84. The company has a fifty day simple moving average of $65.83 and a 200-day simple moving average of $65.11. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 250.91 and a beta of 1.61. AAR Corp. has a 12-month low of $54.71 and a 12-month high of $76.34.

AAR (NYSE:AIR) last released its quarterly earnings data on Tuesday, January 7th. The aerospace company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.07. AAR had a net margin of 0.41% and a return on equity of 10.46%. The company had revenue of $686.10 million during the quarter, compared to the consensus estimate of $654.47 million. During the same quarter in the prior year, the firm posted $0.81 earnings per share. AAR’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, equities analysts forecast that AAR Corp. will post 3.75 EPS for the current fiscal year.

Insider Activity at AAR

In other AAR news, CAO Jessica A. Garascia sold 1,500 shares of AAR stock in a transaction on Friday, January 10th. The shares were sold at an average price of $66.90, for a total value of $100,350.00. Following the transaction, the chief accounting officer now directly owns 37,565 shares in the company, valued at approximately $2,513,098.50. The trade was a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sean M. Gillen sold 17,385 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $66.33, for a total transaction of $1,153,147.05. Following the sale, the chief financial officer now owns 72,326 shares of the company’s stock, valued at $4,797,383.58. This trade represents a 19.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 180,793 shares of company stock valued at $12,184,346 in the last three months. 4.10% of the stock is currently owned by company insiders.

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.