The Manufacturers Life Insurance Company lessened its holdings in AAR Corp. (NYSE:AIR) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,464 shares of the aerospace company’s stock after selling 849 shares during the period. The Manufacturers Life Insurance Company owned about 0.07% of AAR Corp. worth $851,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of AIR. Victory Capital Management Inc. raised its holdings in shares of AAR Corp. by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,262 shares of the aerospace company’s stock worth $148,000 after acquiring an additional 639 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of AAR Corp. in the 2nd quarter worth about $213,000. State of Alaska Department of Revenue raised its holdings in shares of AAR Corp. by 79.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,307 shares of the aerospace company’s stock worth $219,000 after acquiring an additional 2,787 shares during the last quarter. OxFORD Asset Management LLP acquired a new stake in shares of AAR Corp. in the 2nd quarter worth about $230,000. Finally, Trexquant Investment LP acquired a new stake in shares of AAR Corp. in the 2nd quarter worth about $271,000. Institutional investors own 86.38% of the company’s stock.
A number of research firms recently weighed in on AIR. Zacks Investment Research upgraded shares of AAR Corp. from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Canaccord Genuity restated a “hold” rating and issued a $40.00 target price on shares of AAR Corp. in a report on Friday, October 13th. BidaskClub lowered shares of AAR Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Noble Financial reiterated a “buy” rating on shares of AAR Corp. in a research note on Friday, August 11th. Finally, Seaport Global Securities assumed coverage on shares of AAR Corp. in a research note on Tuesday, September 12th. They issued a “neutral” rating and a $39.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. AAR Corp. presently has a consensus rating of “Hold” and an average price target of $46.20.
AAR Corp. (NYSE:AIR) last posted its quarterly earnings data on Tuesday, September 19th. The aerospace company reported $0.31 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.31. The firm had revenue of $439.20 million during the quarter, compared to analyst estimates of $410.52 million. AAR Corp. had a net margin of 3.20% and a return on equity of 5.66%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $0.29 EPS. equities research analysts forecast that AAR Corp. will post 1.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Monday, October 23rd were paid a $0.075 dividend. The ex-dividend date of this dividend was Friday, October 20th. This represents a $0.30 annualized dividend and a yield of 0.76%. AAR Corp.’s dividend payout ratio (DPR) is 17.86%.
In other news, Director Ronald R. Fogleman sold 3,000 shares of the stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $33.47, for a total transaction of $100,410.00. Following the completion of the transaction, the director now directly owns 23,406 shares of the company’s stock, valued at approximately $783,398.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 9.33% of the company’s stock.
AAR Corp. Profile
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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