AAR (AIR)
Supplies aircraft parts, repair, software, and fleet support across commercial and government aviation.
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Sells new and used aircraft parts and earns service revenue from airframe and component MRO, engineering, aviation software, and government fleet and logistics programs. Most activity sits in Parts Supply and Repair, Engineering, and Software, while asset-heavy Legacy Commercial Programs is being wound down.
Supplies new OEM replacement parts and used serviceable material. Repair, Engineering, and Software provides airframe and component MRO, engineering, and maintenance-management and procurement platforms. Government Solutions manages customer-owned aircraft, runs logistics programs, and builds mobility equipment for government missions. Legacy Commercial Programs continues flight-hour component support as contracts end and asset pools are sold.
Serves commercial airlines, MRO providers, aerospace manufacturers, and government customers across North America, Europe, and Asia through OEM distribution relationships, global parts sourcing, and certified repair facilities. The model integrates parts availability, maintenance capacity, software, and fleet support. MRO work requires aviation-authority certificates and certified technicians; government programs depend on agency funding, competitive awards, and contracts that may be terminated for convenience.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 14, 2026 | Guggenheim | Initiate | Rating: — | |
| Jul 27, 2026 | Truist Financial | Target | Target: $107 | Target: $145 |
| Jul 14, 2026 | Jefferies | Reiterate | Rating: —Target: $135 | Target: $155 |
| Jun 30, 2026 | KeyBanc | Downgrade | ||
| Apr 9, 2026 | Keybanc | Reiterate | Rating: —Target: $109 | Target: $132 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, May 31, 2026Cash & short-term investments $84.0M · Total debt $995.0M · Total assets $3.36B · Shareholders' equity $1.70B
- Revenue
- $928.0M
- Operating income
- $75.4M
- Net income
- $50.7M
No dividends on record.
| Institutions | ≈ 100.29% | 40.01M shares | |
|---|---|---|---|
| 419 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 2.63% | 1.05M shares | |
| 15 holders · as of Aug 3, 2026 | |||
| Adds to | 102.92% | ||
39.89M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 102.92%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 16.22% | 6.47M | as of Jun 30, 2026 |
State Street CorpInstitution | 7.10% | 2.83M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.47% | 2.18M | as of Jun 30, 2026 |
Dimensional Fund Advisors LPInstitution | 4.85% | 1.93M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.31% | 1.72M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 27, 2026 | John McClain III Holmes | director, officer: Chairman, President & CEO | −23,950 | $107.60 |
| Mar 26, 2026 | John McClain III Holmes | director, officer: Chairman, President & CEO | −60,000 | $112.41 |
| Mar 26, 2026 | Jessica A. Garascia | officer: Senior VP, GC, CAO & Secretary | −2,138 | $112.20 |
| Mar 26, 2026 | Billy Nolen | director | −1,562 | $111.00 |
| Feb 4, 2026 | Sarah Louise Flanagan | officer: Interim CFO VP Fin Ops | −10,750 | $108.56 |
- VSE
Aviation aftermarket parts and MRO overlap across commercial fleets
- HEICO
FAA-PMA parts and component MRO rival
- AerSale
Overlaps in USM parts, asset management, and aircraft/component MRO
- StandardAero
Independent engine and component MRO overlap
- Boeing
OEM aftermarket channel for aircraft parts and services
- GE Aerospace
Engine aftermarket and spare-parts overlap with AAR
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| AAR | $117.27 | +0.87% | $4.64B | 23.9 | 20.4 | 1.4 | +23.0% |
| VSE | $180.60 | +0.25% | $5.05B | 66.2 | 24.6 | 3.7 | +65.0% |
| HEICO | $302.52 | −0.17% | $42.22B | 50.5 | 44.0 | 8.2 | +23.1% |
| AerSale | $5.52 | +0.85% | $258.5M | — | 20.8 | 0.9 | −33.9% |
| StandardAero | $22.49 | −1.73% | $7.61B | 23.6 | 13.5 | 1.2 | +4.6% |
| Boeing | $198.25 | −1.44% | $158.98B | 87.1 | 150.1 | 1.7 | +8.0% |
| GE Aerospace | $315.36 | −1.14% | $330.99B | 37.7 | 37.4 | 6.5 | +14.6% |
| Median | 50.5 | 31.0 | 2.7 | +11.3% |