Municipal Employees Retirement System of Michigan Boosts Position in AAR Corp. (AIR)

Municipal Employees Retirement System of Michigan boosted its holdings in AAR Corp. (NYSE:AIR) by 41.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,540 shares of the aerospace company’s stock after purchasing an additional 4,580 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in AAR were worth $587,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Victory Capital Management Inc. boosted its holdings in AAR by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,262 shares of the aerospace company’s stock worth $148,000 after acquiring an additional 639 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in AAR during the 2nd quarter worth $213,000. State of Alaska Department of Revenue boosted its holdings in AAR by 79.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 6,307 shares of the aerospace company’s stock worth $219,000 after acquiring an additional 2,787 shares during the last quarter. OxFORD Asset Management LLP purchased a new position in AAR during the 2nd quarter worth $230,000. Finally, Piedmont Investment Advisors LLC purchased a new position in AAR during the 2nd quarter worth $240,000. 87.98% of the stock is owned by institutional investors and hedge funds.

AAR Corp. (NYSE AIR) opened at $41.16 on Friday. The company has a quick ratio of 1.38, a current ratio of 2.90 and a debt-to-equity ratio of 0.20. The firm has a market cap of $1,425.04, a PE ratio of 27.81 and a beta of 1.34. AAR Corp. has a fifty-two week low of $31.20 and a fifty-two week high of $41.94.

AAR (NYSE:AIR) last issued its quarterly earnings results on Tuesday, September 19th. The aerospace company reported $0.31 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.31. The company had revenue of $439.20 million for the quarter, compared to the consensus estimate of $410.52 million. AAR had a net margin of 3.20% and a return on equity of 5.66%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 EPS. analysts predict that AAR Corp. will post 1.81 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 3rd. Investors of record on Monday, October 23rd were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, October 20th. AAR’s dividend payout ratio (DPR) is currently 17.86%.

A number of equities analysts have issued reports on AIR shares. Noble Financial reaffirmed a “buy” rating on shares of AAR in a report on Friday, August 11th. Canaccord Genuity started coverage on shares of AAR in a report on Wednesday, September 6th. They set a “hold” rating and a $40.00 price objective on the stock. Seaport Global Securities started coverage on shares of AAR in a report on Tuesday, September 12th. They set a “neutral” rating and a $39.00 price objective on the stock. Finally, Zacks Investment Research raised shares of AAR from a “sell” rating to a “hold” rating in a report on Thursday, September 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $39.25.

In related news, Director Ronald R. Fogleman sold 3,000 shares of the business’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $33.47, for a total value of $100,410.00. Following the transaction, 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 is available through this link. 9.33% of the stock is currently owned by insiders.

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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.

Institutional Ownership by Quarter for AAR (NYSE:AIR)

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