Ontario Teachers Pension Plan Board bought a new position in AAR Corp. (NYSE:AIR) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 9,292 shares of the aerospace company’s stock, valued at approximately $445,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC acquired a new stake in AAR in the second quarter worth $154,000. BlueMountain Capital Management LLC acquired a new stake in AAR in the second quarter worth $159,000. CIBC Asset Management Inc acquired a new stake in AAR in the third quarter worth $204,000. Keybank National Association OH acquired a new stake in shares of AAR during the second quarter worth $208,000. Finally, Private Advisor Group LLC acquired a new stake in shares of AAR during the second quarter worth $263,000. Institutional investors own 89.30% of the company’s stock.
A number of brokerages recently commented on AIR. Zacks Investment Research lowered shares of AAR from a “hold” rating to a “sell” rating in a report on Tuesday, November 27th. ValuEngine lowered shares of AAR from a “buy” rating to a “hold” rating in a report on Wednesday, November 21st. Noble Financial restated a “buy” rating and set a $57.00 price objective on shares of AAR in a report on Thursday, September 27th. Credit Suisse Group raised their price objective on shares of AAR from $51.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, September 28th. Finally, Canaccord Genuity restated a “buy” rating and set a $52.00 price objective on shares of AAR in a report on Thursday, August 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $53.17.
Shares of NYSE:AIR opened at $43.69 on Friday. AAR Corp. has a 12 month low of $36.46 and a 12 month high of $51.52. The company has a current ratio of 3.12, a quick ratio of 1.63 and a debt-to-equity ratio of 0.23. The firm has a market cap of $1.53 billion, a P/E ratio of 22.76 and a beta of 1.08.
AAR (NYSE:AIR) last issued its quarterly earnings data on Tuesday, September 25th. The aerospace company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. AAR had a net margin of 1.08% and a return on equity of 7.27%. The business had revenue of $466.30 million for the quarter, compared to analyst estimates of $452.72 million. During the same period last year, the business posted $0.31 earnings per share. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. Research analysts predict that AAR Corp. will post 2.69 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 2nd. Investors of record on Monday, October 22nd were issued a dividend of $0.075 per share. The ex-dividend date was Friday, October 19th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.69%. AAR’s payout ratio is 16.76%.
AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The company operates in two segments, Aviation Services and Expeditionary Services. The Aviation Services segment offers aftermarket support and services; inventory management and distribution services; and maintenance, repair, and overhaul, as well as engineering services.
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