Essex Investment Management Co. LLC lowered its position in shares of AAR Corp. (NYSE:AIR) by 13.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,183 shares of the aerospace company’s stock after selling 6,708 shares during the period. Essex Investment Management Co. LLC owned about 0.13% of AAR Corp. worth $1,631,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Victory Capital Management Inc. increased its stake in shares of AAR Corp. by 15.9% in the 1st quarter. Victory Capital Management Inc. now owns 3,623 shares of the aerospace company’s stock worth $122,000 after acquiring an additional 496 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of AAR Corp. in the 2nd quarter worth about $213,000. State of Alaska Department of Revenue increased its stake in shares of AAR Corp. by 79.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,307 shares of the aerospace company’s stock worth $219,000 after acquiring an additional 2,787 shares in the last quarter. OxFORD Asset Management LLP bought a new position in shares of AAR Corp. in the 2nd quarter worth about $230,000. Finally, Piedmont Investment Advisors LLC bought a new position in shares of AAR Corp. in the 2nd quarter worth about $240,000. 86.38% of the stock is owned by institutional investors and hedge funds.
A number of analysts have weighed in on the stock. Noble Financial restated a “buy” rating on shares of AAR Corp. in a research note on Friday, August 11th. Canaccord Genuity reiterated a “hold” rating and issued a $40.00 price target on shares of AAR Corp. in a research note on Friday, October 13th. Zacks Investment Research raised shares of AAR Corp. from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. BidaskClub downgraded shares of AAR Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Seaport Global Securities began coverage on shares of AAR Corp. in a report on Tuesday, September 12th. They issued a “neutral” rating and a $39.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $46.20.
In other AAR Corp. news, Director Ronald R. Fogleman sold 3,000 shares of the stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $33.47, for a total transaction of $100,410.00. Following the completion of the sale, the director now directly owns 23,406 shares of the company’s stock, valued at $783,398.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 9.33% of the company’s stock.
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Shares of AAR Corp. (AIR) traded down $0.26 on Monday, hitting $40.11. 170,000 shares of the stock were exchanged, compared to its average volume of 177,804. AAR Corp. has a 1 year low of $31.20 and a 1 year high of $41.94. The stock has a market capitalization of $1,388.69, a price-to-earnings ratio of 27.10 and a beta of 1.33. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.90 and a quick ratio of 1.38.
AAR Corp. (NYSE:AIR) last released its quarterly earnings data on Tuesday, September 19th. The aerospace company reported $0.31 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.31. The company had revenue of $439.20 million during the quarter, compared to analyst estimates of $410.52 million. AAR Corp. had a net margin of 3.20% and a return on equity of 5.66%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 earnings per share. equities analysts forecast that AAR Corp. will post 1.81 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Monday, October 23rd were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Friday, October 20th. AAR Corp.’s payout ratio is 17.86%.
About AAR Corp.
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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