Raymond James Financial Inc. Invests $6.85 Million in AAR Corp. (NYSE:AIR)

Raymond James Financial Inc. bought a new position in shares of AAR Corp. (NYSE:AIR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 111,765 shares of the aerospace company's stock, valued at approximately $6,849,000. Raymond James Financial Inc. owned approximately 0.31% of AAR as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AIR. Smartleaf Asset Management LLC grew its holdings in shares of AAR by 124.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the aerospace company's stock worth $62,000 after purchasing an additional 561 shares in the last quarter. Venturi Wealth Management LLC raised its stake in AAR by 1,965.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,322 shares of the aerospace company's stock valued at $81,000 after purchasing an additional 1,258 shares in the last quarter. Toth Financial Advisory Corp boosted its stake in shares of AAR by 133.3% in the 4th quarter. Toth Financial Advisory Corp now owns 1,400 shares of the aerospace company's stock valued at $86,000 after purchasing an additional 800 shares in the last quarter. KBC Group NV increased its stake in shares of AAR by 42.5% in the fourth quarter. KBC Group NV now owns 1,887 shares of the aerospace company's stock worth $116,000 after buying an additional 563 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in shares of AAR by 52.1% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,711 shares of the aerospace company's stock worth $166,000 after buying an additional 929 shares during the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AIR. StockNews.com raised AAR from a "sell" rating to a "hold" rating in a research report on Saturday, April 19th. Truist Financial reduced their price target on AAR from $81.00 to $78.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Finally, KeyCorp lowered their price objective on AAR from $83.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, AAR has a consensus rating of "Moderate Buy" and a consensus price target of $80.20.

AAR Stock Up 0.4 %

AAR stock traded up $0.19 during mid-day trading on Friday, hitting $52.83. The company had a trading volume of 267,087 shares, compared to its average volume of 275,333. AAR Corp. has a 12 month low of $46.51 and a 12 month high of $76.34. The company has a market capitalization of $1.91 billion, a PE ratio of 188.69 and a beta of 1.32. The stock's 50 day moving average price is $59.81 and its two-hundred day moving average price is $63.41. The company has a current ratio of 2.68, a quick ratio of 1.27 and a debt-to-equity ratio of 0.84.

AAR (NYSE:AIR - Get Free Report) last posted its earnings results on Thursday, March 27th. The aerospace company reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.03. The business had revenue of $678.20 million during the quarter, compared to analyst estimates of $699.13 million. AAR had a return on equity of 10.46% and a net margin of 0.41%. The company's quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 EPS. As a group, sell-side analysts anticipate that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

AAR 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.