PDT Partners LLC Acquires New Holdings in AAR Corp. (NYSE:AIR)

PDT Partners LLC bought a new position in AAR Corp. (NYSE:AIR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,700 shares of the aerospace company’s stock, valued at approximately $503,000.

Several other hedge funds also recently modified their holdings of the business. Principal Financial Group Inc. boosted its holdings in AAR by 18.5% in the third quarter. Principal Financial Group Inc. now owns 500,200 shares of the aerospace company’s stock worth $32,693,000 after purchasing an additional 77,974 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of AAR by 41.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 551,439 shares of the aerospace company’s stock valued at $40,090,000 after acquiring an additional 160,363 shares during the last quarter. Earnest Partners LLC raised its stake in shares of AAR by 3.2% in the 2nd quarter. Earnest Partners LLC now owns 1,588,893 shares of the aerospace company’s stock valued at $115,513,000 after acquiring an additional 48,630 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in AAR in the 2nd quarter worth approximately $2,330,000. Finally, Resolute Capital Asset Partners LLC boosted its position in AAR by 54.3% during the second quarter. Resolute Capital Asset Partners LLC now owns 30,000 shares of the aerospace company’s stock worth $2,181,000 after purchasing an additional 10,562 shares during the period. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Trading Up 0.1 %

Shares of AIR stock opened at $69.57 on Tuesday. The firm has a market capitalization of $2.50 billion, a P/E ratio of 38.23 and a beta of 1.57. AAR Corp. has a 1 year low of $54.71 and a 1 year high of $76.34. The firm’s fifty day simple moving average is $64.35 and its 200 day simple moving average is $66.42. The company has a current ratio of 3.06, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81.

AAR (NYSE:AIR) last posted its quarterly earnings data 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 company had revenue of $661.70 million for the quarter, compared to the consensus estimate of $645.60 million. During the same quarter in the previous year, the firm posted $0.78 EPS. The business’s revenue was up 20.4% compared to the same quarter last year. As a group, sell-side analysts predict that AAR Corp. will post 3.63 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of AAR from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Royal Bank of Canada reissued an “outperform” rating and set a $75.00 target price on shares of AAR in a research report on Monday, November 4th. Finally, Benchmark reaffirmed a “buy” rating and issued a $83.00 price target on shares of AAR in a research report on Friday, October 4th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.00.

About AAR

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.