AAR Corp. (NYSE:AIR) Director Ronald B. Woodard sold 20,000 shares of the stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $37.22, for a total transaction of $744,400.00. Following the transaction, the director now owns 20,073 shares in the company, valued at $747,117.06. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
AAR Corp. (AIR) traded up 0.23% on Friday, hitting $35.37. 152,659 shares of the stock were exchanged. The stock has a market cap of $1.19 billion, a PE ratio of 21.65 and a beta of 1.38. The company’s 50 day moving average is $36.07 and its 200 day moving average is $34.65. AAR Corp. has a 1-year low of $23.34 and a 1-year high of $38.75.
AAR Corp. (NYSE:AIR) last announced its earnings results on Tuesday, July 11th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. AAR Corp. had a net margin of 3.20% and a return on equity of 5.69%. The business had revenue of $492.30 million for the quarter, compared to analyst estimates of $486.93 million. During the same quarter in the previous year, the firm posted $0.32 earnings per share. AAR Corp.’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts expect that AAR Corp. will post $1.78 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Friday, July 21st were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.85%. The ex-dividend date was Wednesday, July 19th. AAR Corp.’s dividend payout ratio (DPR) is presently 18.18%.
AAR Corp. announced that its Board of Directors has initiated a stock buyback plan on Tuesday, July 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the aerospace company to reacquire up to 20.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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A number of research analysts have commented on AIR shares. Zacks Investment Research downgraded shares of AAR Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. BidaskClub upgraded shares of AAR Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, Noble Financial reiterated a “buy” rating on shares of AAR Corp. in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. AAR Corp. presently has a consensus rating of “Buy” and an average target price of $46.80.
Large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of AAR Corp. by 29,054.7% in the first quarter. BlackRock Inc. now owns 4,657,468 shares of the aerospace company’s stock valued at $156,630,000 after buying an additional 4,641,493 shares during the period. Beach Point Capital Management LP acquired a new stake in shares of AAR Corp. during the second quarter valued at about $15,758,000. State Street Corp raised its stake in shares of AAR Corp. by 28.9% in the fourth quarter. State Street Corp now owns 1,063,773 shares of the aerospace company’s stock valued at $35,161,000 after buying an additional 238,508 shares during the period. Norges Bank acquired a new stake in shares of AAR Corp. during the fourth quarter valued at about $6,654,000. Finally, Vanguard Group Inc. raised its stake in shares of AAR Corp. by 5.7% in the first quarter. Vanguard Group Inc. now owns 2,924,503 shares of the aerospace company’s stock valued at $98,350,000 after buying an additional 157,388 shares during the period. 88.99% of the stock is currently owned by hedge funds and other institutional investors.
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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