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Aerospace has been one of the best places to be over the past few years as aerospace and defense stocks have massively outperformed the S&P 500. One of the stocks that has been lagging is AAR Corp. (AIR). This Illinois based producer of commercial and government aerospace parts and supplies just reported its earnings after rallying more than 20% since the start of June. The company is showing great progress and could be a very profitable investment over the next few months and likely even beyond.