Citadel Advisors LLC Lowers Position in AAR Corp. (AIR)

Citadel Advisors LLC cut its stake in shares of AAR Corp. (NYSE:AIR) by 44.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,276 shares of the aerospace company’s stock after selling 5,738 shares during the period. Citadel Advisors LLC’s holdings in AAR Corp. were worth $253,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in shares of AAR Corp. by 15.9% during the first quarter. Victory Capital Management Inc. now owns 3,623 shares of the aerospace company’s stock valued at $122,000 after buying an additional 496 shares during the period. FNY Partners Fund LP bought a new stake in shares of AAR Corp. during the first quarter valued at about $127,000. State of Alaska Department of Revenue increased its position in shares of AAR Corp. by 79.2% during the second quarter. State of Alaska Department of Revenue now owns 6,307 shares of the aerospace company’s stock valued at $219,000 after buying an additional 2,787 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of AAR Corp. by 12.2% during the first quarter. BNP Paribas Arbitrage SA now owns 6,579 shares of the aerospace company’s stock valued at $221,000 after buying an additional 715 shares during the period. Finally, Mason Street Advisors LLC increased its position in shares of AAR Corp. by 7.5% during the first quarter. Mason Street Advisors LLC now owns 7,465 shares of the aerospace company’s stock valued at $251,000 after buying an additional 520 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

AIR has been the topic of several analyst reports. BidaskClub upgraded AAR Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Noble Financial reiterated a “buy” rating on shares of AAR Corp. in a research report on Thursday, July 13th. Zacks Investment Research upgraded AAR Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, September 14th. Seaport Global Securities initiated coverage on AAR Corp. in a research report on Tuesday, September 12th. They set a “neutral” rating and a $39.00 price target on the stock. Finally, Canaccord Genuity initiated coverage on AAR Corp. in a research report on Wednesday, September 6th. They set a “hold” rating and a $40.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $45.67.

In other news, VP Robert J. Regan sold 28,640 shares of AAR Corp. stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $36.53, for a total transaction of $1,046,219.20. Following the transaction, the vice president now directly owns 114,193 shares of the company’s stock, valued at approximately $4,171,470.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Timothy J. Romenesko sold 43,200 shares of AAR Corp. stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $37.28, for a total value of $1,610,496.00. Following the transaction, the insider now directly owns 317,665 shares in the company, valued at $11,842,551.20. The disclosure for this sale can be found here. 9.33% of the stock is owned by insiders.

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AAR Corp. (NYSE:AIR) last posted its quarterly earnings data on Tuesday, September 19th. The aerospace company reported $0.31 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.31. AAR Corp. had a return on equity of 5.66% and a net margin of 3.20%. The firm had revenue of $439.20 million for the quarter, compared to analysts’ expectations of $410.52 million. During the same period in the previous year, the firm earned $0.29 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis.

AAR Corp. declared that its board has authorized a share buyback plan on Tuesday, July 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the aerospace company to purchase up to 20.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Stockholders of record on Monday, October 23rd will be given a dividend of $0.075 per share. The ex-dividend date is Friday, October 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.78%. AAR Corp.’s payout ratio is currently 17.86%.

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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Institutional Ownership by Quarter for AAR Corp. (NYSE:AIR)

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