Cortina Asset Management LLC bought a new stake in AAR Corp. (NYSE:AIR) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 133,928 shares of the aerospace company’s stock, valued at approximately $6,226,000. Cortina Asset Management LLC owned approximately 0.39% of AAR as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. State of Wisconsin Investment Board acquired a new stake in shares of AAR in the 2nd quarter valued at about $2,162,000. Schwab Charles Investment Management Inc. raised its stake in shares of AAR by 2.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 334,625 shares of the aerospace company’s stock valued at $14,761,000 after purchasing an additional 8,721 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of AAR by 92.5% in the 1st quarter. SG Americas Securities LLC now owns 4,972 shares of the aerospace company’s stock valued at $219,000 after purchasing an additional 2,389 shares in the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of AAR in the 1st quarter valued at about $23,557,000. Finally, Thrivent Financial for Lutherans raised its stake in shares of AAR by 9.0% in the 1st quarter. Thrivent Financial for Lutherans now owns 21,746 shares of the aerospace company’s stock valued at $959,000 after purchasing an additional 1,793 shares in the last quarter. Institutional investors and hedge funds own 95.59% of the company’s stock.
In other AAR news, CAO Eric Pachapa sold 3,000 shares of the company’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $46.75, for a total value of $140,250.00. Following the completion of the transaction, the chief accounting officer now owns 9,626 shares in the company, valued at approximately $450,015.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David P. Storch sold 63,736 shares of the company’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $47.20, for a total transaction of $3,008,339.20. Following the completion of the transaction, the director now owns 705,281 shares of the company’s stock, valued at approximately $33,289,263.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 102,739 shares of company stock valued at $4,850,280. Insiders own 9.33% of the company’s stock.
Shares of NYSE:AIR opened at $45.98 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.83 and a debt-to-equity ratio of 0.19. AAR Corp. has a fifty-two week low of $34.25 and a fifty-two week high of $49.05. The stock has a market cap of $1.63 billion, a P/E ratio of 25.69 and a beta of 1.21.
AAR (NYSE:AIR) last announced its quarterly earnings data on Tuesday, July 10th. The aerospace company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. AAR had a net margin of 0.85% and a return on equity of 6.39%. The business had revenue of $474.00 million during the quarter, compared to the consensus estimate of $483.51 million. During the same quarter in the prior year, the firm earned $0.44 EPS. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. equities analysts expect that AAR Corp. will post 2.72 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity restated a “buy” rating and issued a $52.00 target price (up previously from $48.00) on shares of AAR in a research note on Wednesday, July 11th. Zacks Investment Research upgraded shares of AAR from a “sell” rating to a “hold” rating in a research note on Tuesday, June 12th. Finally, Seaport Global Securities reaffirmed a “buy” rating and set a $52.00 price objective on shares of AAR in a research report on Friday, July 13th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $50.60.
AAR Company Profile
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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