Schwab Charles Investment Management Inc. raised its position in shares of AAR Corp. (NYSE:AIR) by 12.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 294,279 shares of the aerospace company’s stock after buying an additional 31,549 shares during the period. Schwab Charles Investment Management Inc. owned about 0.87% of AAR Corp. worth $9,897,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Thrivent Financial for Lutherans boosted its stake in shares of AAR Corp. by 4.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 17,190 shares of the aerospace company’s stock worth $568,000 after buying an additional 800 shares during the last quarter. Norges Bank purchased a new stake in shares of AAR Corp. during the fourth quarter worth $6,654,000. Teachers Advisors LLC boosted its stake in shares of AAR Corp. by 79.3% in the fourth quarter. Teachers Advisors LLC now owns 122,104 shares of the aerospace company’s stock worth $4,036,000 after buying an additional 54,011 shares during the last quarter. Foundry Partners LLC boosted its stake in shares of AAR Corp. by 16.7% in the first quarter. Foundry Partners LLC now owns 335,933 shares of the aerospace company’s stock worth $11,297,000 after buying an additional 48,028 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of AAR Corp. by 10.1% in the first quarter. Bank of Montreal Can now owns 3,371 shares of the aerospace company’s stock worth $114,000 after buying an additional 309 shares during the last quarter. Institutional investors own 89.12% of the company’s stock.
AAR Corp. (AIR) traded up 0.14% on Friday, reaching $35.23. The company had a trading volume of 85,669 shares. The stock has a market capitalization of $1.19 billion, a P/E ratio of 21.56 and a beta of 1.38. The firm has a 50-day moving average of $36.26 and a 200-day moving average of $34.77. AAR Corp. has a 12 month low of $23.50 and a 12 month high of $38.75.
AAR Corp. declared that its board has approved a stock repurchase plan on Tuesday, July 11th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase up to 20.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Investors of record on Friday, July 21st were given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Wednesday, July 19th. AAR Corp.’s dividend payout ratio (DPR) is currently 18.18%.
AIR has been the subject of a number of research reports. Zacks Investment Research cut AAR Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. BidaskClub raised AAR Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, Noble Financial reaffirmed a “buy” rating on shares of AAR Corp. in a research note on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. AAR Corp. currently has an average rating of “Buy” and a consensus target price of $46.80.
In other AAR Corp. news, Director Ronald B. Woodard sold 20,000 shares of the firm’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $37.22, for a total value of $744,400.00. Following the transaction, the director now directly owns 20,073 shares of the company’s stock, valued at $747,117.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert J. Regan sold 28,640 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $36.53, for a total value of $1,046,219.20. Following the completion of the transaction, the vice president now directly owns 114,193 shares in the company, valued at $4,171,470.29. The disclosure for this sale can be found here. Insiders sold 91,840 shares of company stock worth $3,401,115 over the last three months. 8.23% of the stock is currently 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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