Several other institutional investors have also bought and sold shares of AIR. Bank of Montreal Can raised its position in AAR Corp. by 10.1% in the first quarter. Bank of Montreal Can now owns 3,371 shares of the aerospace company’s stock valued at $114,000 after buying an additional 309 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of AAR Corp. by 0.9% in the first quarter. State of Alaska Department of Revenue now owns 3,520 shares of the aerospace company’s stock worth $118,000 after buying an additional 30 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of AAR Corp. by 15.9% in the first quarter. Victory Capital Management Inc. now owns 3,623 shares of the aerospace company’s stock worth $122,000 after buying an additional 496 shares in the last quarter. FNY Partners Fund LP purchased a new position in shares of AAR Corp. during the first quarter worth approximately $127,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of AAR Corp. by 12.2% in the first quarter. BNP Paribas Arbitrage SA now owns 6,579 shares of the aerospace company’s stock worth $221,000 after buying an additional 715 shares in the last quarter. Institutional investors and hedge funds own 88.99% of the company’s stock.
Anchor Capital Advisors LLC raised its stake in shares of AAR Corp. (NYSE:AIR) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 26,613 shares of the aerospace company’s stock after buying an additional 150 shares during the period. Anchor Capital Advisors LLC’s holdings in AAR Corp. were worth $925,000 at the end of the most recent reporting period.
AAR Corp. (AIR) opened at 36.84 on Monday. The firm has a 50-day moving average of $35.76 and a 200-day moving average of $34.45. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 22.55 and a beta of 1.38. AAR Corp. has a one year low of $23.34 and a one year high of $38.75.
AAR Corp. (NYSE:AIR) last posted its earnings results on Tuesday, July 11th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. AAR Corp. had a net margin of 3.20% and a return on equity of 5.69%. The business had revenue of $492.30 million for the quarter, compared to analyst estimates of $486.93 million. During the same period last year, the business posted $0.32 EPS. AAR Corp.’s revenue was up 5.1% compared to the same quarter last year. Analysts anticipate that AAR Corp. will post $1.78 EPS for the current year.
AAR Corp. declared that its board has initiated a share repurchase plan on Tuesday, July 11th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the aerospace company to repurchase up to 20.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Investors of record on Friday, July 21st were paid a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, July 19th. This represents a $0.30 dividend on an annualized basis and a yield of 0.81%. AAR Corp.’s payout ratio is presently 18.18%.
A number of equities analysts have commented on AIR shares. Zacks Investment Research lowered shares of AAR Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Noble Financial reiterated a “buy” rating on shares of AAR Corp. in a report on Thursday, July 13th. Finally, BidaskClub lowered shares of AAR Corp. from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. AAR Corp. has an average rating of “Buy” and an average target price of $46.80.
In related news, VP Robert J. Regan sold 28,640 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $36.53, for a total value of $1,046,219.20. Following the transaction, the vice president now directly owns 114,193 shares in the company, valued at approximately $4,171,470.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Timothy J. Romenesko sold 43,200 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $37.28, for a total transaction of $1,610,496.00. Following the completion of the transaction, the insider now owns 317,665 shares in the company, valued at $11,842,551.20. The disclosure for this sale can be found here. Insiders sold a total of 95,340 shares of company stock worth $3,524,350 over the last quarter. 8.23% of the stock is currently owned by company insiders.
AAR Corp. Company Profile
AAR CORP. (AAR) is a provider of services and products to the commercial aviation and government and defense markets. The Company operates in two segments: Aviation Services, which consists of supply chain and maintenance, repair and overhaul (MRO) activities, and Expeditionary Services, which includes airlift and mobility activities.
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