Daiwa Securities Group Inc. Makes New $2.33 Million Investment in AAR Corp. (NYSE:AIR)

Daiwa Securities Group Inc. bought a new stake in shares of AAR Corp. (NYSE:AIR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 32,048 shares of the aerospace company's stock, valued at approximately $2,330,000. Daiwa Securities Group Inc. owned approximately 0.09% of AAR at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AIR. Boston Partners purchased a new stake in shares of AAR in the first quarter valued at $25,794,000. Allspring Global Investments Holdings LLC raised its position in AAR by 889.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 391,076 shares of the aerospace company's stock worth $23,414,000 after purchasing an additional 351,540 shares during the period. Norges Bank bought a new stake in AAR in the fourth quarter worth about $21,511,000. Bank of New York Mellon Corp boosted its position in shares of AAR by 37.6% during the second quarter. Bank of New York Mellon Corp now owns 421,770 shares of the aerospace company's stock valued at $30,663,000 after buying an additional 115,330 shares during the period. Finally, Peregrine Capital Management LLC bought a new position in shares of AAR during the first quarter valued at approximately $6,073,000. Institutional investors own 90.74% of the company's stock.

Wall Street Analysts Forecast Growth

AIR has been the subject of a number of recent analyst reports. StockNews.com cut AAR from a "hold" rating to a "sell" rating in a report on Wednesday. Royal Bank of Canada boosted their target price on shares of AAR from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Friday, July 19th. Finally, Stifel Nicolaus reduced their price target on shares of AAR from $86.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $83.50.

AAR Stock Up 2.6 %

Shares of AIR stock traded up $1.74 during mid-day trading on Friday, hitting $67.64. The stock had a trading volume of 252,039 shares, compared to its average volume of 300,084. AAR Corp. has a 12-month low of $54.71 and a 12-month high of $76.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.98 and a quick ratio of 1.41. The firm's 50-day moving average is $65.58 and its two-hundred day moving average is $66.50. The firm has a market capitalization of $2.42 billion, a P/E ratio of 39.79 and a beta of 1.55.

AAR (NYSE:AIR - Get Free Report) last released its quarterly earnings data on Thursday, July 18th. The aerospace company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.02. AAR had a net margin of 2.00% and a return on equity of 10.16%. The company had revenue of $656.50 million during the quarter, compared to analyst estimates of $660.05 million. During the same period in the prior year, the firm earned $0.83 earnings per share. The firm's revenue for the quarter was up 18.7% compared to the same quarter last year. On average, analysts predict that AAR Corp. will post 3.74 earnings per share for the current fiscal year.

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.