American Century Companies Inc. increased its holdings in shares of AAR Corp. (NYSE:AIR) by 52.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,481 shares of the aerospace company’s stock after buying an additional 70,443 shares during the period. American Century Companies Inc. owned 0.60% of AAR Corp. worth $7,725,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in AAR Corp. by 5.7% during the first quarter. Vanguard Group Inc. now owns 2,924,503 shares of the aerospace company’s stock valued at $98,350,000 after purchasing an additional 157,388 shares during the period. Geode Capital Management LLC grew its holdings in AAR Corp. by 3.1% during the first quarter. Geode Capital Management LLC now owns 245,316 shares of the aerospace company’s stock valued at $8,249,000 after purchasing an additional 7,431 shares during the period. BlackRock Inc. grew its holdings in AAR Corp. by 29,054.7% during the first quarter. BlackRock Inc. now owns 4,657,468 shares of the aerospace company’s stock valued at $156,630,000 after purchasing an additional 4,641,493 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in AAR Corp. by 12.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 294,279 shares of the aerospace company’s stock valued at $9,897,000 after purchasing an additional 31,549 shares during the period. Finally, State Street Corp grew its holdings in AAR Corp. by 3.6% during the first quarter. State Street Corp now owns 1,101,708 shares of the aerospace company’s stock valued at $37,049,000 after purchasing an additional 37,935 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.
In related news, Director Ronald R. Fogleman sold 3,000 shares of the stock in a transaction on Friday, December 29th. The shares were sold at an average price of $33.47, for a total transaction of $100,410.00. Following the completion of the transaction, the director now owns 23,406 shares in the company, valued at $783,398.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.33% of the company’s stock.
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 Thomson Reuters’ consensus estimate of $0.31. AAR Corp. had a net margin of 3.20% and a return on equity of 5.66%. The business had revenue of $439.20 million during the quarter, compared to analysts’ expectations of $410.52 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. analysts forecast that AAR Corp. will post 1.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 3rd. Investors of record on Monday, October 23rd were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Friday, October 20th. AAR Corp.’s payout ratio is 20.41%.
A number of research analysts recently issued reports on the stock. Noble Financial restated a “buy” rating on shares of AAR Corp. in a report on Friday, August 11th. Canaccord Genuity restated a “hold” rating and set a $40.00 price objective on shares of AAR Corp. in a report on Friday, October 13th. Zacks Investment Research upgraded shares of AAR Corp. from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. BidaskClub cut shares of AAR Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Seaport Global Securities initiated coverage on shares of AAR Corp. in a report on Tuesday, September 12th. They issued a “neutral” rating and a $39.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. AAR Corp. currently has an average rating of “Hold” and a consensus price target of $46.20.
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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