Teachers Advisors LLC reduced its position in AAR Corp. (NYSE:AIR) by 39.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,248 shares of the aerospace company’s stock after selling 43,982 shares during the quarter. Teachers Advisors LLC owned approximately 0.20% of AAR Corp. worth $2,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System grew its position in shares of AAR Corp. by 0.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 33,488 shares of the aerospace company’s stock valued at $1,164,000 after purchasing an additional 93 shares in the last quarter. Anchor Capital Advisors LLC grew its position in shares of AAR Corp. by 0.6% in the second quarter. Anchor Capital Advisors LLC now owns 26,613 shares of the aerospace company’s stock valued at $925,000 after purchasing an additional 150 shares in the last quarter. Texas Permanent School Fund grew its position in shares of AAR Corp. by 0.8% in the second quarter. Texas Permanent School Fund now owns 23,309 shares of the aerospace company’s stock valued at $810,000 after purchasing an additional 195 shares in the last quarter. Arizona State Retirement System grew its position in shares of AAR Corp. by 1.8% in the first quarter. Arizona State Retirement System now owns 16,646 shares of the aerospace company’s stock valued at $560,000 after purchasing an additional 300 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of AAR Corp. by 15.9% in the first quarter. Victory Capital Management Inc. now owns 3,623 shares of the aerospace company’s stock valued at $122,000 after purchasing an additional 496 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.
AIR has been the subject of several recent research reports. BidaskClub cut AAR Corp. from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Noble Financial reiterated a “buy” rating on shares of AAR Corp. in a research report on Thursday, July 13th. Canaccord Genuity initiated coverage on AAR Corp. in a research report on Wednesday, September 6th. They issued a “hold” rating and a $40.00 price target for the company. Seaport Global Securities initiated coverage on AAR Corp. in a research report on Tuesday, September 12th. They issued a “neutral” rating and a $39.00 price target for the company. Finally, Zacks Investment Research upgraded AAR Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, September 14th. 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 company’s stock. AAR Corp. currently has a consensus rating of “Hold” and an average target price of $45.67.
In other AAR Corp. news, VP Robert J. Regan sold 28,640 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $36.53, for a total value of $1,046,219.20. Following the completion of the sale, the vice president now owns 114,193 shares in the company, valued at approximately $4,171,470.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.33% of the company’s stock.
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AAR Corp. (NYSE:AIR) opened at 38.76 on Friday. The stock has a market capitalization of $1.32 billion, a PE ratio of 23.29 and a beta of 1.37. The company’s 50-day moving average price is $37.38 and its 200 day moving average price is $35.82. AAR Corp. has a 52-week low of $31.07 and a 52-week high of $39.71.
AAR Corp. (NYSE:AIR) last announced its earnings results on Tuesday, September 19th. The aerospace company reported $0.31 EPS for the quarter, hitting 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 company had revenue of $439.20 million for the quarter, compared to analysts’ expectations of $410.52 million. During the same period last year, the firm earned $0.29 EPS. AAR Corp.’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts forecast that AAR Corp. will post $1.77 EPS for the current fiscal year.
AAR Corp. announced that its Board of Directors has initiated a share buyback program on Tuesday, July 11th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the aerospace company to buy up to 20.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Monday, October 23rd will be paid a $0.075 dividend. The ex-dividend date is Friday, October 20th. This represents a $0.30 dividend on an annualized basis and a yield of 0.77%. AAR Corp.’s payout ratio is presently 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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