GW&K Investment Management LLC grew its position in AAR Corp. (NYSE:AIR) by 11.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,012,089 shares of the aerospace company’s stock after buying an additional 106,127 shares during the quarter. GW&K Investment Management LLC’s holdings in AAR were worth $41,709,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stone Ridge Asset Management LLC acquired a new position in AAR during the 2nd quarter worth $405,000. South Dakota Investment Council grew its stake in AAR by 40.0% during the 2nd quarter. South Dakota Investment Council now owns 28,850 shares of the aerospace company’s stock worth $1,061,000 after purchasing an additional 8,250 shares in the last quarter. First Mercantile Trust Co. acquired a new position in AAR during the 3rd quarter worth $566,000. Foundry Partners LLC grew its stake in AAR by 11.8% during the 3rd quarter. Foundry Partners LLC now owns 146,591 shares of the aerospace company’s stock worth $6,041,000 after purchasing an additional 15,503 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in AAR by 128.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 25,320 shares of the aerospace company’s stock worth $1,043,000 after purchasing an additional 14,235 shares in the last quarter. 91.72% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently commented on AIR. UBS Group reissued a “buy” rating and set a $153.00 target price on shares of AAR in a research note on Wednesday, October 30th. Berenberg Bank reissued a “buy” rating and set a $156.00 target price on shares of AAR in a research note on Thursday, October 31st. Stifel Nicolaus boosted their target price on AAR from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Barclays reissued a “buy” rating and set a $155.00 target price on shares of AAR in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $161.00 target price on shares of AAR in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $116.57.
Shares of NYSE:AIR traded down $0.84 on Friday, hitting $43.35. 105,572 shares of the company’s stock were exchanged, compared to its average volume of 272,108. The firm’s 50-day moving average is $41.75 and its 200 day moving average is $38.69. The company has a market capitalization of $1.55 billion, a PE ratio of 18.37 and a beta of 1.11. AAR Corp. has a 1-year low of $29.84 and a 1-year high of $49.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.18 and a current ratio of 2.58.
AAR (NYSE:AIR) last released its quarterly earnings data on Wednesday, September 25th. The aerospace company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.06. The business had revenue of $541.50 million during the quarter, compared to analysts’ expectations of $495.03 million. AAR had a positive return on equity of 9.94% and a negative net margin of 0.15%. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 EPS. On average, analysts anticipate that AAR Corp. will post 2.62 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.30 annualized dividend and a dividend yield of 0.69%. AAR’s dividend payout ratio is currently 12.71%.
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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