Allspring Global Investments Holdings LLC Buys 160,363 Shares of AAR Corp. (NYSE:AIR)

Allspring Global Investments Holdings LLC boosted its holdings in shares of AAR Corp. (NYSE:AIR - Free Report) by 41.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 551,439 shares of the aerospace company's stock after buying an additional 160,363 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.54% of AAR worth $40,090,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AIR. GAMMA Investing LLC purchased a new stake in AAR in the fourth quarter valued at $27,000. EverSource Wealth Advisors LLC lifted its stake in AAR by 283.1% in the first quarter. EverSource Wealth Advisors LLC now owns 544 shares of the aerospace company's stock valued at $33,000 after buying an additional 402 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of AAR in the first quarter valued at approximately $63,000. Psagot Value Holdings Ltd. Israel grew its position in shares of AAR by 737.1% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 1,105 shares of the aerospace company's stock worth $69,000 after acquiring an additional 973 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of 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 buying an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 90.74% of the company's stock.

AAR Trading Up 0.1 %

AIR traded up $0.09 during trading on Tuesday, hitting $64.62. The company's stock had a trading volume of 120,938 shares, compared to its average volume of 306,168. The stock has a market cap of $2.29 billion, a PE ratio of 38.19 and a beta of 1.54. 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 twelve month low of $54.71 and a twelve month high of $76.34. The firm's 50 day moving average price is $67.28 and its 200-day moving average price is $66.57.

AAR (NYSE:AIR - Get Free Report) 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. AAR had a return on equity of 10.16% and a net margin of 2.00%. The company had revenue of $656.50 million during the quarter, compared to analysts' expectations of $660.05 million. During the same quarter in the previous year, the business earned $0.83 EPS. The firm's revenue was up 18.7% on a year-over-year basis. On average, analysts expect that AAR Corp. will post 3.84 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on AIR shares. Stifel Nicolaus reduced their price objective on AAR from $86.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, July 19th. Royal Bank of Canada increased their price target on shares of AAR from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Friday, July 19th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, AAR has a consensus rating of "Moderate Buy" and an average target price of $83.50.

AAR Company Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. It operates through Aviation Services and Expeditionary Services segments. The Aviation Services segment engages in lease and sale of new, overhauled and repaired engine, and airframe parts and components, as well as aircrafts; and offers customized flight hour component inventory and repair, warranty claim management, and outsourcing programs for engine and airframe parts and components.