AAR Corp. (NYSE:AIR) Shares Purchased by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. grew its position in shares of AAR Corp. (NYSE:AIR) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,655 shares of the aerospace company’s stock after buying an additional 226 shares during the quarter. Summit Investment Advisors Inc.’s holdings in AAR were worth $224,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Inspire Investing LLC boosted its holdings in AAR by 3.3% in the 4th quarter. Inspire Investing LLC now owns 6,505 shares of the aerospace company’s stock valued at $399,000 after purchasing an additional 205 shares in the last quarter. Arizona State Retirement System raised its position in AAR by 2.1% in the fourth quarter. Arizona State Retirement System now owns 10,420 shares of the aerospace company’s stock worth $639,000 after acquiring an additional 219 shares in the last quarter. Sheets Smith Wealth Management boosted its position in shares of AAR by 3.2% during the 4th quarter. Sheets Smith Wealth Management now owns 7,015 shares of the aerospace company’s stock worth $430,000 after purchasing an additional 220 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of AAR by 6.1% in the 3rd quarter. HighTower Advisors LLC now owns 3,818 shares of the aerospace company’s stock valued at $249,000 after purchasing an additional 220 shares in the last quarter. Finally, US Bancorp DE lifted its stake in shares of AAR by 3.8% in the fourth quarter. US Bancorp DE now owns 6,118 shares of the aerospace company’s stock valued at $375,000 after purchasing an additional 225 shares during the period. Hedge funds and other institutional investors own 90.74% of the company’s stock.

AAR Stock Performance

NYSE AIR opened at $51.15 on Tuesday. The company has a quick ratio of 1.27, a current ratio of 2.68 and a debt-to-equity ratio of 0.84. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 182.69 and a beta of 1.32. AAR Corp. has a fifty-two week low of $46.51 and a fifty-two week high of $76.34. The business has a fifty day moving average of $60.87 and a 200-day moving average of $63.73.

AAR (NYSE:AIR) last released its quarterly earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.03. The company had revenue of $678.20 million for the quarter, compared to analysts’ expectations of $699.13 million. AAR had a net margin of 0.41% and a return on equity of 10.46%. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS. As a group, analysts predict that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Truist Financial dropped their target price on shares of AAR from $81.00 to $78.00 and set a “buy” rating for the company in a report on Friday, March 28th. StockNews.com raised AAR from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, KeyCorp decreased their target price on AAR from $83.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $80.20.

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.