PDT Partners LLC Takes Position in AAR Corp. (NYSE:AIR)

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

Other institutional investors also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in shares of AAR in the 2nd quarter worth approximately $33,000. EverSource Wealth Advisors LLC raised its stake in AAR by 283.1% during the first quarter. EverSource Wealth Advisors LLC now owns 544 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 402 shares in the last quarter. Innealta Capital LLC bought a new position in shares of AAR during the second quarter valued at $49,000. KBC Group NV boosted its stake in shares of AAR by 32.9% in the 3rd quarter. KBC Group NV now owns 1,324 shares of the aerospace company’s stock valued at $87,000 after purchasing an additional 328 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of AAR by 348.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,416 shares of the aerospace company’s stock worth $103,000 after purchasing an additional 1,100 shares during the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

AAR Trading Up 0.1 %

AIR opened at $69.57 on Tuesday. The company has a current ratio of 3.06, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $2.50 billion, a PE ratio of 38.23 and a beta of 1.57. The firm has a 50-day moving average price of $64.35 and a two-hundred day moving average price of $66.42. AAR Corp. has a 1-year low of $54.71 and a 1-year high of $76.34.

AAR (NYSE:AIR) last announced its quarterly earnings data on Monday, September 23rd. The aerospace company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. AAR had a return on equity of 10.22% and a net margin of 2.67%. The firm had revenue of $661.70 million during the quarter, compared to analyst estimates of $645.60 million. During the same period last year, the company earned $0.78 earnings per share. The company’s revenue was up 20.4% on a year-over-year basis. As a group, equities analysts anticipate that AAR Corp. will post 3.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AIR has been the subject of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $75.00 price target on shares of AAR in a report on Monday, November 4th. StockNews.com upgraded shares of AAR from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Benchmark restated a “buy” rating and set a $83.00 price target on shares of AAR in a research report on Friday, October 4th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.