Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of AAR Corp. (NYSE:AIR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,814 shares of the aerospace company’s stock, valued at approximately $317,000.
Other hedge funds have also recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of AAR by 11.1% during the 1st quarter. Wells Fargo & Company MN now owns 59,101 shares of the aerospace company’s stock valued at $2,607,000 after purchasing an additional 5,924 shares during the period. Rhumbline Advisers raised its position in shares of AAR by 2.0% during the 1st quarter. Rhumbline Advisers now owns 88,698 shares of the aerospace company’s stock valued at $3,912,000 after purchasing an additional 1,755 shares during the period. SG Americas Securities LLC raised its position in shares of AAR by 92.5% during 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 during the period. Commerce Bank bought a new stake in shares of AAR during the 1st quarter valued at $493,000. Finally, Trexquant Investment LP bought a new stake in shares of AAR during the 1st quarter valued at $2,673,000. 94.74% of the stock is owned by institutional investors and hedge funds.
AIR has been the topic of several recent analyst reports. Seaport Global Securities restated a “buy” rating and set a $52.00 price objective on shares of AAR in a research report on Friday, July 13th. Canaccord Genuity restated a “buy” rating and set a $52.00 price objective (up from $48.00) on shares of AAR in a research report on Wednesday, July 11th. Finally, Zacks Investment Research raised shares of AAR from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $50.60.
In related news, CAO Eric Pachapa sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $46.75, for a total transaction of $140,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 9,626 shares of the company’s stock, valued at $450,015.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert J. Regan sold 24,239 shares of the firm’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $47.36, for a total transaction of $1,147,959.04. Following the transaction, the vice president now directly owns 116,777 shares of the company’s stock, valued at $5,530,558.72. The disclosure for this sale can be found here. Insiders have sold 102,739 shares of company stock valued at $4,850,280 over the last ninety days. 9.33% of the stock is currently owned by corporate insiders.
AIR opened at $46.00 on Thursday. The firm has a market cap of $1.62 billion, a P/E ratio of 25.70 and a beta of 1.24. AAR Corp. has a fifty-two week low of $34.25 and a fifty-two week high of $49.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.83 and a quick ratio of 1.45.
AAR (NYSE:AIR) last posted its earnings results on Tuesday, July 10th. The aerospace company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.03. The company had revenue of $474.00 million during the quarter, compared to analysts’ expectations of $483.51 million. AAR had a net margin of 0.85% and a return on equity of 6.39%. AAR’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the company posted $0.44 earnings per share. research analysts predict that AAR Corp. will post 2.72 EPS for the current year.
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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