BlackRock Inc. increased its holdings in shares of AAR Corp. (NYSE:AIR) by 5.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,945,256 shares of the aerospace company’s stock after acquiring an additional 321,325 shares during the quarter. BlackRock Inc. owned about 16.97% of AAR worth $284,718,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of AIR. Glenmede Trust Co. NA boosted its position in AAR by 11,341.5% during the second quarter. Glenmede Trust Co. NA now owns 698,849 shares of the aerospace company’s stock worth $32,490,000 after acquiring an additional 692,741 shares during the last quarter. GW&K Investment Management LLC boosted its position in AAR by 57.4% during the third quarter. GW&K Investment Management LLC now owns 846,512 shares of the aerospace company’s stock worth $40,539,000 after acquiring an additional 308,696 shares during the last quarter. Advisors Asset Management Inc. boosted its position in AAR by 518.1% during the second quarter. Advisors Asset Management Inc. now owns 357,536 shares of the aerospace company’s stock worth $3,010,000 after acquiring an additional 299,692 shares during the last quarter. Federated Investors Inc. PA boosted its position in AAR by 6,834.5% during the second quarter. Federated Investors Inc. PA now owns 218,159 shares of the aerospace company’s stock worth $10,142,000 after acquiring an additional 215,013 shares during the last quarter. Finally, Cortina Asset Management LLC acquired a new position in AAR during the second quarter worth about $6,226,000. Hedge funds and other institutional investors own 88.21% of the company’s stock.
A number of equities analysts have commented on AIR shares. SunTrust Banks downgraded shares of AAR from a “buy” rating to a “hold” rating and reduced their target price for the stock from $50.00 to $47.00 in a research note on Tuesday, September 11th. Zacks Investment Research raised shares of AAR from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Tuesday, September 11th. ValuEngine downgraded shares of AAR from a “buy” rating to a “hold” rating in a research note on Wednesday, September 12th. Canaccord Genuity lifted their target price on shares of AAR from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, September 26th. Finally, Noble Financial reaffirmed a “buy” rating and set a $57.00 target price on shares of AAR in a research note on Thursday, September 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $53.17.
In other news, Director David P. Storch sold 18,800 shares of the business’s stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $46.98, for a total value of $883,224.00. Following the sale, the director now directly owns 619,222 shares of the company’s stock, valued at approximately $29,091,049.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David P. Storch sold 22,570 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $44.05, for a total transaction of $994,208.50. Following the completion of the sale, the director now directly owns 587,852 shares in the company, valued at $25,894,880.60. The disclosure for this sale can be found here. Insiders have sold 51,609 shares of company stock worth $2,354,979 over the last ninety days. 7.43% of the stock is owned by insiders.
Shares of AIR stock opened at $39.74 on Tuesday. The company has a current ratio of 3.12, a quick ratio of 1.63 and a debt-to-equity ratio of 0.23. AAR Corp. has a 12 month low of $36.46 and a 12 month high of $51.52. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 22.20 and a beta of 1.05.
AAR (NYSE:AIR) last issued its earnings results on Tuesday, September 25th. The aerospace company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. AAR had a net margin of 1.08% and a return on equity of 7.27%. The company had revenue of $466.30 million for the quarter, compared to the consensus estimate of $452.72 million. During the same period in the previous year, the firm earned $0.31 earnings per share. AAR’s quarterly revenue was up 17.2% compared to the same quarter last year. On average, research analysts anticipate that AAR Corp. will post 2.69 EPS for the current fiscal year.
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AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The company operates in two segments, Aviation Services and Expeditionary Services. The Aviation Services segment offers aftermarket support and services; inventory management and distribution services; and maintenance, repair, and overhaul, as well as engineering services.
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