AAR Corp. (NYSE:AIR) is among the 10 best non-tech stocks to buy and hold for 5 years. On March 9, AAR Corp. (NYSE:AIR) unit AAR Manufacturing LLC said that it secured a $159.78 million contract from the U.S. Department of War to repair cargo pallets. According to the announcement from the Air Force Life Cycle Management Center, the contract covers the department’s 463L legacy cargo pallet system, a standard cargo handling system used by the U.S. Air Force for air transport operations.
The firm-fixed-price, indefinite-delivery requirements contract covers repair services for the 463L Legacy Cargo Pallet system. Work will be carried out at AAR Corp. (NYSE:AIR)’s facility in Cadillac, Michigan, with completion expected by March 5, 2031. The contract was awarded as a sole-source acquisition, with no funds obligated at the time of award.
Meanwhile, on March 6, Truist raised its price target on AAR Corp. (NYSE:AIR) to $128 from $107 and kept a Buy rating on the shares. The company’s recent margin expansion, coupled with strategic repositioning, is recognized in the stock performance but still not accurately reflected in valuation, according to the analyst.
Photo from Joby Aviation website
AAR Corp. (NYSE:AIR) provides products and services to the commercial aviation, government, and defense industries.
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