Fmr LLC Increases Holdings in AAR Corp. (NYSE:AIR)

Fmr LLC lifted its position in AAR Corp. (NYSE:AIR) by 24.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 109,543 shares of the aerospace company’s stock after purchasing an additional 21,342 shares during the period. Fmr LLC’s holdings in AAR were worth $7,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Loomis Sayles & Co. L P raised its position 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 acquiring an additional 134,215 shares during the period. Algert Global LLC grew its holdings in AAR by 56.8% during the third quarter. Algert Global LLC now owns 47,410 shares of the aerospace company’s stock valued at $3,099,000 after purchasing an additional 17,180 shares during the period. Citigroup Inc. increased its position in AAR by 12.7% in the third quarter. Citigroup Inc. now owns 71,869 shares of the aerospace company’s stock worth $4,697,000 after buying an additional 8,113 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of AAR by 89.1% during the 3rd quarter. Intech Investment Management LLC now owns 15,087 shares of the aerospace company’s stock valued at $986,000 after buying an additional 7,108 shares in the last quarter. Finally, Prospera Private Wealth LLC bought a new position in shares of AAR during the 3rd quarter valued at approximately $513,000. Institutional investors own 90.74% of the company’s stock.

Analysts Set New Price Targets

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

AAR Trading Down 5.5 %

AIR stock opened at $63.69 on Friday. The firm has a fifty day moving average price of $64.73 and a 200 day moving average price of $66.27. AAR Corp. has a fifty-two week low of $54.71 and a fifty-two week high of $76.34. The firm has a market cap of $2.29 billion, a PE ratio of 34.99 and a beta of 1.59. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.45 and a current ratio of 3.06.

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, beating the consensus estimate 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 net margin of 2.67% and a return on equity of 10.22%. The business’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 EPS. Sell-side analysts anticipate that AAR Corp. will post 3.63 earnings per share for the current fiscal 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.