Comerica Bank Has $1.31 Million Stake in AAR Corp. (AIR)

Comerica Bank lessened its stake in shares of AAR Corp. (NYSE:AIR) by 31.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,873 shares of the aerospace company’s stock after selling 15,743 shares during the quarter. Comerica Bank owned approximately 0.10% of AAR worth $1,313,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Beach Point Capital Management LP bought a new position in shares of AAR during the second quarter valued at approximately $15,758,000. Heartland Advisors Inc. raised its holdings in shares of AAR by 99.4% during the second quarter. Heartland Advisors Inc. now owns 273,369 shares of the aerospace company’s stock valued at $9,502,000 after acquiring an additional 136,261 shares in the last quarter. American Century Companies Inc. bought a new position in shares of AAR during the second quarter valued at approximately $4,659,000. Monarch Partners Asset Management LLC bought a new position in shares of AAR during the third quarter valued at approximately $2,819,000. Finally, BlackRock Inc. raised its holdings in shares of AAR by 1.6% during the second quarter. BlackRock Inc. now owns 4,731,967 shares of the aerospace company’s stock valued at $164,483,000 after acquiring an additional 74,499 shares in the last quarter. 87.98% of the stock is owned by hedge funds and other institutional investors.

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 stock has a market capitalization of $1,425.04, a price-to-earnings ratio of 27.81 and a beta of 1.34. AAR Corp. has a twelve month low of $31.20 and a twelve month high of $41.94.

AAR (NYSE:AIR) last posted its quarterly earnings data on Tuesday, September 19th. The aerospace company reported $0.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.31. The business had revenue of $439.20 million during the quarter, compared to the consensus estimate of $410.52 million. AAR had a return on equity of 5.66% and a net margin of 3.20%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 earnings per share. equities analysts forecast that AAR Corp. will post 1.81 EPS for the current year.

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

AIR has been the subject of a number of recent analyst reports. Seaport Global Securities initiated coverage on AAR in a report on Tuesday, September 12th. They set a “neutral” rating and a $39.00 target price for the company. Canaccord Genuity initiated coverage on AAR in a report on Wednesday, September 6th. They set a “hold” rating and a $40.00 target price for the company. Zacks Investment Research upgraded AAR from a “sell” rating to a “hold” rating in a report on Thursday, September 14th. Finally, Noble Financial restated a “buy” rating on shares of AAR in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $39.25.

In other AAR news, Director Ronald R. Fogleman sold 3,000 shares of the stock in a transaction on Friday, December 29th. The stock was sold at an average price of $33.47, for a total value 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 9.33% of the stock is currently owned by corporate 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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