California State Teachers Retirement System lessened its holdings in shares of AAR Corp. (NYSE:AIR) by 9.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,784 shares of the aerospace company’s stock after selling 5,242 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of AAR worth $1,956,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the stock. Invictus RG bought a new position in shares of AAR during the third quarter valued at approximately $404,000. OxFORD Asset Management LLP raised its holdings in AAR by 2,831.6% in the third quarter. OxFORD Asset Management LLP now owns 194,044 shares of the aerospace company’s stock worth $7,362,000 after purchasing an additional 187,425 shares in the last quarter. Telemark Asset Management LLC raised its holdings in AAR by 30.0% in the third quarter. Telemark Asset Management LLC now owns 130,000 shares of the aerospace company’s stock worth $4,911,000 after purchasing an additional 30,000 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in AAR by 5.0% in the third quarter. Schwab Charles Investment Management Inc. now owns 311,303 shares of the aerospace company’s stock worth $11,762,000 after purchasing an additional 14,877 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in AAR in the third quarter worth $2,181,000. Institutional investors own 90.34% of the company’s stock.
AAR Corp. (NYSE:AIR) traded up $0.52 during midday trading on Friday, hitting $39.06. The stock had a trading volume of 481,207 shares, compared to its average volume of 303,213. AAR Corp. has a 52-week low of $31.97 and a 52-week high of $44.04. The stock has a market capitalization of $1,304.44, a PE ratio of 58.30 and a beta of 1.36. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.23 and a current ratio of 2.65.
AAR (NYSE:AIR) last released its earnings results on Thursday, December 21st. The aerospace company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). AAR had a return on equity of 5.61% and a net margin of 1.25%. The company had revenue of $449.70 million during the quarter, compared to analysts’ expectations of $450.56 million. During the same period in the prior year, the company posted $0.35 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. equities research analysts expect that AAR Corp. will post 1.86 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 5th. Investors of record on Monday, January 22nd were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, January 19th. This represents a $0.30 annualized dividend and a dividend yield of 0.77%. AAR’s dividend payout ratio (DPR) is presently 44.78%.
In related news, Director Ronald R. Fogleman sold 3,000 shares of the stock in a transaction on Friday, December 29th. The stock was sold at an average price of $33.47, for a total transaction of $100,410.00. Following 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 Securities & Exchange Commission, which is available at this link. Also, CEO David P. Storch sold 126,679 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $41.53, for a total value of $5,260,978.87. Following the sale, the chief executive officer now directly owns 759,639 shares in the company, valued at $31,547,807.67. The disclosure for this sale can be found here. Company insiders own 9.33% of the company’s stock.
AIR has been the subject of a number of research reports. Canaccord Genuity reiterated a “hold” rating and issued a $40.00 price objective on shares of AAR in a report on Friday, October 13th. SunTrust Banks increased their price objective on AAR to $50.00 and gave the stock a “buy” rating in a report on Monday, December 4th. Noble Financial reiterated a “buy” rating on shares of AAR in a report on Friday, December 22nd. TheStreet cut AAR from a “b” rating to a “c+” rating in a research note on Thursday, December 21st. Finally, Credit Suisse Group raised AAR from a “neutral” rating to an “outperform” rating in a research note on Friday, January 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $46.50.
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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