Texas Permanent School Fund cut its stake in shares of AAR Corp. (NYSE:AIR) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,765 shares of the aerospace company’s stock after selling 1,741 shares during the quarter. Texas Permanent School Fund owned approximately 0.06% of AAR worth $855,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Piedmont Investment Advisors LLC bought a new position in shares of AAR during the 2nd quarter valued at approximately $240,000. Magnetar Financial LLC bought a new position in shares of AAR during the 3rd quarter valued at approximately $449,000. Invictus RG bought a new position in shares of AAR during the 3rd quarter valued at approximately $404,000. Monarch Partners Asset Management LLC bought a new position in shares of AAR during the 3rd quarter valued at approximately $2,819,000. Finally, American Century Companies Inc. grew its stake in shares of AAR by 52.6% during the 3rd quarter. American Century Companies Inc. now owns 204,481 shares of the aerospace company’s stock valued at $7,725,000 after acquiring an additional 70,443 shares during the period. Institutional investors own 90.89% of the company’s stock.
A number of research analysts recently issued reports on AIR shares. SunTrust Banks boosted their price objective on AAR to $50.00 and gave the company a “buy” rating in a research note on Monday, December 4th. Canaccord Genuity raised AAR from a “hold” rating to a “buy” rating and boosted their price target for the stock from $42.00 to $46.00 in a report on Thursday, February 8th. Seaport Global Securities raised AAR from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $39.00 to $50.00 in a report on Tuesday, January 16th. Noble Financial reissued a “buy” rating on shares of AAR in a report on Friday, December 22nd. Finally, TheStreet cut AAR from a “b” rating to a “c+” rating in a report on Thursday, December 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. AAR currently has an average rating of “Buy” and a consensus price target of $46.50.
In other news, Director Ronald R. Fogleman sold 3,000 shares of the company’s stock in a transaction that occurred 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 approximately $783,398.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David P. Storch sold 126,679 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was 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. 9.33% of the stock is currently owned by insiders.
AAR Corp. (NYSE:AIR) opened at $42.03 on Friday. The company has a quick ratio of 1.23, a current ratio of 2.65 and a debt-to-equity ratio of 0.24. AAR Corp. has a twelve month low of $31.97 and a twelve month high of $44.04. The company has a market capitalization of $1,460.00, a P/E ratio of 91.37 and a beta of 1.36.
AAR (NYSE:AIR) last posted its quarterly earnings results on Thursday, December 21st. The aerospace company reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). AAR had a return on equity of 5.61% and a net margin of 1.25%. The business 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 firm posted $0.35 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. analysts anticipate that AAR Corp. will post 1.86 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, February 5th. Investors of record on Monday, January 22nd were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, January 19th. This represents a $0.30 dividend on an annualized basis and a yield of 0.71%. AAR’s dividend payout ratio is presently 65.22%.
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AAR 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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