Bank of New York Mellon Corp raised its stake in AAR Corp. (NYSE:AIR) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 443,070 shares of the aerospace company’s stock after purchasing an additional 10,979 shares during the quarter. Bank of New York Mellon Corp’s holdings in AAR were worth $20,598,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Rhumbline Advisers grew its stake in AAR by 2.0% in the first 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 in the last quarter. Thrivent Financial for Lutherans grew its stake in AAR by 9.0% in the first 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. Federated Investors Inc. PA grew its stake in AAR by 144.1% in the first quarter. Federated Investors Inc. PA now owns 3,146 shares of the aerospace company’s stock valued at $139,000 after purchasing an additional 1,857 shares in the last quarter. Aperio Group LLC grew its stake in AAR by 11.5% in the second quarter. Aperio Group LLC now owns 18,397 shares of the aerospace company’s stock valued at $855,000 after purchasing an additional 1,897 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in AAR by 92.5% in the first 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. Hedge funds and other institutional investors own 93.93% of the company’s stock.
Shares of NYSE AIR opened at $42.76 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 12 month low of $34.93 and a 12 month high of $49.05. The company has a market cap of $1.51 billion, a PE ratio of 23.89 and a beta of 1.24.
AAR (NYSE:AIR) last issued its earnings results on Tuesday, July 10th. The aerospace company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.03. AAR had a return on equity of 6.39% and a net margin of 0.85%. The company had revenue of $474.00 million during the quarter, compared to the consensus estimate of $483.51 million. During the same period in the previous year, the company posted $0.44 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. research analysts expect that AAR Corp. will post 2.66 EPS for the current year.
In other news, CAO Eric Pachapa sold 3,000 shares of AAR stock in a transaction that occurred on Thursday, August 2nd. The stock was 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 in the company, valued at approximately $450,015.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David P. Storch sold 11,764 shares of AAR stock in a transaction that occurred on Friday, July 20th. The stock was sold at an average price of $47.07, for a total value of $553,731.48. Following the transaction, the director now owns 819,945 shares of the company’s stock, valued at $38,594,811.15. The disclosure for this sale can be found here. Insiders have sold a total of 102,739 shares of company stock valued at $4,850,280 over the last quarter. 7.43% of the stock is currently owned by corporate insiders.
A number of research analysts have weighed in on AIR shares. SunTrust Banks downgraded AAR from a “buy” rating to a “hold” rating and decreased their price target for the company from $50.00 to $47.00 in a research note on Tuesday, September 11th. Zacks Investment Research upgraded AAR from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. Canaccord Genuity restated a “buy” rating and issued a $52.00 price target on shares of AAR in a research note on Thursday, August 16th. Finally, Seaport Global Securities restated a “buy” rating and issued a $52.00 price target on shares of AAR in a research note on Friday, July 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. AAR presently has a consensus rating of “Buy” and a consensus target price of $50.80.
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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