SG Americas Securities LLC lifted its position in AAR Corp. (NYSE:AIR) by 90.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,981 shares of the aerospace company’s stock after acquiring an additional 6,162 shares during the quarter. SG Americas Securities LLC’s holdings in AAR Corp. were worth $451,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can grew its stake in shares of AAR Corp. by 10.1% in the 1st quarter. Bank of Montreal Can now owns 3,371 shares of the aerospace company’s stock worth $114,000 after acquiring an additional 309 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of AAR Corp. by 0.9% in the 1st quarter. State of Alaska Department of Revenue now owns 3,520 shares of the aerospace company’s stock worth $118,000 after acquiring an additional 30 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of AAR Corp. by 15.9% in the 1st quarter. Victory Capital Management Inc. now owns 3,623 shares of the aerospace company’s stock worth $122,000 after acquiring an additional 496 shares in the last quarter. FNY Partners Fund LP bought a new stake in shares of AAR Corp. in the 1st quarter worth $127,000. Finally, BNP Paribas Arbitrage SA grew its stake in shares of AAR Corp. by 12.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,579 shares of the aerospace company’s stock worth $221,000 after acquiring an additional 715 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.
Several analysts have recently issued reports on the stock. Canaccord Genuity assumed coverage on shares of AAR Corp. in a research note on Wednesday, September 6th. They issued a “hold” rating and a $40.00 target price for the company. Zacks Investment Research upgraded shares of AAR Corp. from a “sell” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Tuesday, May 23rd. BidaskClub upgraded shares of AAR Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, Noble Financial reiterated a “buy” rating on shares of AAR Corp. in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. AAR Corp. currently has a consensus rating of “Buy” and a consensus price target of $45.67.
AAR Corp. (AIR) opened at 35.26 on Tuesday. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 21.58 and a beta of 1.39. AAR Corp. has a 52-week low of $27.06 and a 52-week high of $38.75. The company’s 50-day moving average is $35.94 and its 200 day moving average is $35.02.
AAR Corp. (NYSE:AIR) last released its quarterly earnings data on Tuesday, July 11th. The aerospace company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. AAR Corp. had a return on equity of 5.69% and a net margin of 3.20%. The company had revenue of $492.30 million during the quarter, compared to the consensus estimate of $486.93 million. During the same period last year, the company earned $0.32 EPS. AAR Corp.’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts forecast that AAR Corp. will post $1.77 earnings per share for the current fiscal year.
AAR Corp. announced that its board has approved a stock repurchase program on Tuesday, July 11th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the aerospace company to purchase up to 20.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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In related news, Vice Chairman Timothy J. Romenesko sold 43,200 shares of AAR Corp. stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $37.28, for a total value of $1,610,496.00. Following the completion of the sale, the insider now directly owns 317,665 shares in the company, valued at approximately $11,842,551.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Robert J. Regan sold 28,640 shares of AAR Corp. stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $36.53, for a total value of $1,046,219.20. Following the completion of the sale, the vice president now owns 114,193 shares of the company’s stock, valued at $4,171,470.29. The disclosure for this sale can be found here. Insiders sold a total of 91,840 shares of company stock valued at $3,401,115 over the last quarter. 9.33% of the stock is owned by corporate insiders.
About AAR Corp.
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.
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