NEW YORK ( TheStreet) -- AAR Corp (NYSE: AIR) hit a new 52-week high Wednesday as it traded at $28.97 compared with its previous 52-Week high of $28.95. AAR is changing hands at $28.86 with 8,566 shares traded as of 9:39 a.m. ET. Average volume has been 294,900 shares over the past 30 days. AAR has a market cap of $1.1 billion and is part of the industrial goods sector and aerospace/defense industry. Shares are up 3.9% year to date as of the close of trading on Tuesday. AAR CORP. provides products and services for the aviation, government, and defense markets worldwide. The company's Aviation Supply Chain segment engages in the purchase and sale of new, overhauled, and repaired engine and airframe parts and components for airline customers. The company has a P/E ratio of 21.4, equal to the average aerospace/defense industry P/E ratio and below the S&P 500 P/E ratio of 23.4. TheStreet Ratings rates AAR as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, poor profit margins and weak operating cash flow. You can view the full AAR Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.