Envestnet Asset Management Inc. Sells 924 Shares of AAR Corp. (NYSE:AIR)

Envestnet Asset Management Inc. decreased its position in shares of AAR Corp. (NYSE:AIR) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,414 shares of the aerospace company’s stock after selling 924 shares during the period. Envestnet Asset Management Inc.’s holdings in AAR were worth $7,624,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its stake in AAR by 124.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 561 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of AAR by 1,965.6% during the fourth quarter. Venturi Wealth Management LLC now owns 1,322 shares of the aerospace company’s stock worth $81,000 after purchasing an additional 1,258 shares during the period. Toth Financial Advisory Corp raised its position in shares of AAR by 133.3% in the fourth quarter. Toth Financial Advisory Corp now owns 1,400 shares of the aerospace company’s stock valued at $86,000 after buying an additional 800 shares in the last quarter. KBC Group NV boosted its stake in shares of AAR by 42.5% in the fourth quarter. KBC Group NV now owns 1,887 shares of the aerospace company’s stock valued at $116,000 after buying an additional 563 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in AAR by 52.1% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,711 shares of the aerospace company’s stock worth $166,000 after buying an additional 929 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Price Performance

AAR stock opened at $52.82 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.27 and a current ratio of 2.68. AAR Corp. has a 52 week low of $46.51 and a 52 week high of $76.34. The stock has a market capitalization of $1.91 billion, a P/E ratio of 188.66 and a beta of 1.32. The stock has a fifty day moving average of $61.21 and a 200-day moving average of $63.84.

AAR (NYSE:AIR) last posted its earnings results on Thursday, March 27th. The aerospace company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. The firm had revenue of $678.20 million during 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 business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 earnings per share. On average, sell-side analysts expect that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.