State of Alaska Department of Revenue Acquires 653 Shares of AAR Corp. (NYSE:AIR)

State of Alaska Department of Revenue increased its holdings in AAR Corp. (NYSE:AIR) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,094 shares of the aerospace company’s stock after acquiring an additional 653 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of AAR worth $1,313,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in AIR. Louisiana State Employees Retirement System boosted its stake in shares of AAR by 1.8% during the 3rd quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the aerospace company’s stock valued at $1,111,000 after purchasing an additional 300 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in AAR by 17.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 9,888 shares of the aerospace company’s stock worth $646,000 after buying an additional 1,493 shares during the period. Stanley Laman Group Ltd. boosted its position in AAR by 7.1% during the 3rd quarter. Stanley Laman Group Ltd. now owns 75,722 shares of the aerospace company’s stock valued at $4,949,000 after acquiring an additional 5,008 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of AAR by 32.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 732,957 shares of the aerospace company’s stock worth $47,906,000 after acquiring an additional 181,518 shares during the period. Finally, Net Worth Advisory Group bought a new position in shares of AAR in the 3rd quarter worth approximately $228,000. Institutional investors own 90.74% of the company’s stock.

AAR Price Performance

AIR opened at $58.40 on Monday. The firm has a market cap of $2.10 billion, a PE ratio of 32.09 and a beta of 1.57. The stock has a 50-day moving average price of $64.07 and a 200-day moving average price of $66.76. AAR Corp. has a 1 year low of $54.71 and a 1 year high of $76.34. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.06 and a quick ratio of 1.45.

AAR (NYSE:AIR) 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. AAR had a net margin of 2.67% and a return on equity of 10.22%. The business had revenue of $661.70 million during the quarter, compared to analysts’ expectations of $645.60 million. During the same period in the previous year, the company earned $0.78 earnings per share. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. Sell-side analysts predict that AAR Corp. will post 3.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AIR. Benchmark reaffirmed a “buy” rating and issued a $83.00 price target on shares of AAR in a research note on Friday, October 4th. StockNews.com upgraded shares of AAR from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Stifel Nicolaus lowered their price target on shares of AAR from $86.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $85.00 price objective on shares of AAR in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $83.50.

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.