Strs Ohio held its stake in shares of AAR Corp. (NYSE:AIR) during the second quarter, Holdings Channel reports. The institutional investor owned 25,900 shares of the aerospace company’s stock at the end of the second quarter. Strs Ohio’s holdings in AAR Corp. were worth $900,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of AIR. Bank of New York Mellon Corp boosted its stake in shares of AAR Corp. by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 506,440 shares of the aerospace company’s stock worth $17,031,000 after buying an additional 14,929 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of AAR Corp. by 132.0% in the first quarter. Advisors Asset Management Inc. now owns 17,747 shares of the aerospace company’s stock worth $597,000 after buying an additional 10,097 shares during the period. First Trust Advisors LP boosted its stake in shares of AAR Corp. by 25.3% in the first quarter. First Trust Advisors LP now owns 62,936 shares of the aerospace company’s stock worth $2,117,000 after buying an additional 12,701 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of AAR Corp. by 15.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 33,395 shares of the aerospace company’s stock worth $1,123,000 after buying an additional 4,592 shares during the period. Finally, Chicago Equity Partners LLC boosted its stake in shares of AAR Corp. by 10.1% in the first quarter. Chicago Equity Partners LLC now owns 49,865 shares of the aerospace company’s stock worth $1,677,000 after buying an additional 4,555 shares during the period. 89.12% of the stock is currently owned by institutional investors.
Shares of AAR Corp. (NYSE:AIR) opened at 35.91 on Thursday. AAR Corp. has a one year low of $23.34 and a one year high of $38.75. The firm’s 50 day moving average is $36.22 and its 200-day moving average is $34.74. The firm has a market capitalization of $1.21 billion, a PE ratio of 21.98 and a beta of 1.38.
AAR Corp. (NYSE:AIR) last posted its quarterly earnings results on Tuesday, July 11th. The aerospace company reported $0.44 earnings per share 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 firm had revenue of $492.30 million for the quarter, compared to the consensus estimate of $486.93 million. During the same quarter in the previous year, the company earned $0.32 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts predict that AAR Corp. will post $1.78 earnings per share for the current fiscal year.
AAR Corp. announced that its Board of Directors has approved a stock buyback plan on Tuesday, July 11th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the aerospace company to buy up to 20.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Friday, July 21st were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, July 19th. This represents a $0.30 dividend on an annualized basis and a yield of 0.84%. AAR Corp.’s dividend payout ratio is currently 18.18%.
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A number of analysts have weighed in on the stock. Noble Financial reissued a “buy” rating on shares of AAR Corp. in a report on Thursday, July 13th. BidaskClub cut shares of AAR Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Zacks Investment Research cut shares of AAR Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. AAR Corp. has a consensus rating of “Buy” and an average target price of $46.80.
In other news, Vice Chairman Timothy J. Romenesko sold 43,200 shares of the business’s stock in a transaction on 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 sale, the insider now owns 317,665 shares in the company, valued at approximately $11,842,551.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald B. Woodard sold 20,000 shares of the business’s 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 completion of the sale, the director now owns 20,073 shares in the company, valued at approximately $747,117.06. The disclosure for this sale can be found here. Insiders sold a total of 91,840 shares of company stock worth $3,401,115 in the last 90 days. 8.23% of the stock is owned by corporate insiders.
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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