Franklin Resources Inc. Increases Stock Holdings in AAR Corp. (NYSE:AIR)

Franklin Resources Inc. raised its holdings in shares of AAR Corp. (NYSE:AIR - Free Report) by 13.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 969,741 shares of the aerospace company's stock after purchasing an additional 114,460 shares during the period. Franklin Resources Inc. owned approximately 2.70% of AAR worth $59,591,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. National Bank of Canada FI purchased a new position in AAR during the third quarter worth about $25,000. Quest Partners LLC acquired a new stake in AAR during the 2nd quarter valued at $33,000. Innealta Capital LLC acquired a new stake in AAR during the 2nd quarter worth approximately $49,000. EverSource Wealth Advisors LLC raised its holdings in shares of AAR by 43.0% in the second quarter. EverSource Wealth Advisors LLC now owns 778 shares of the aerospace company's stock valued at $57,000 after purchasing an additional 234 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of AAR by 32.9% in the 3rd quarter. KBC Group NV now owns 1,324 shares of the aerospace company's stock worth $87,000 after purchasing an additional 328 shares in the last quarter. 90.74% of the stock is owned by hedge funds and other institutional investors.

AAR Price Performance

NYSE:AIR traded down $1.13 during mid-day trading on Tuesday, hitting $62.78. The company's stock had a trading volume of 161,595 shares, compared to its average volume of 295,144. AAR Corp. has a fifty-two week low of $54.71 and a fifty-two week high of $76.34. The company has a current ratio of 3.06, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 34.51 and a beta of 1.59. The stock has a fifty day moving average of $64.68 and a 200-day moving average of $66.12.

AAR (NYSE:AIR - Get Free Report) last issued its earnings results on Monday, September 23rd. The aerospace company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. The business had revenue of $661.70 million during 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 for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 earnings per share. As a group, equities analysts forecast that AAR Corp. will post 3.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AIR. Royal Bank of Canada reiterated an "outperform" rating and set a $75.00 price objective on shares of AAR in a report on Monday, November 4th. StockNews.com upgraded AAR from a "sell" rating to a "hold" rating in a research report on Monday, October 21st. Finally, Benchmark reaffirmed a "buy" rating and set a $83.00 price objective on shares of AAR in a research report on Friday, October 4th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $81.00.

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.