Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of AAR Corp. (NYSE:AIR) by 102.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,906 shares of the aerospace company’s stock after acquiring an additional 19,690 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned 0.11% of AAR Corp. worth $1,467,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Board of Administration of Florida Retirement System lifted its position in AAR Corp. by 0.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 33,488 shares of the aerospace company’s stock valued at $1,164,000 after acquiring an additional 93 shares during the period. Anchor Capital Advisors LLC lifted its position in AAR Corp. by 0.6% during the 2nd quarter. Anchor Capital Advisors LLC now owns 26,613 shares of the aerospace company’s stock valued at $925,000 after acquiring an additional 150 shares during the period. Texas Permanent School Fund lifted its position in AAR Corp. by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 23,309 shares of the aerospace company’s stock valued at $810,000 after acquiring an additional 195 shares during the period. Victory Capital Management Inc. lifted its position in AAR Corp. by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,262 shares of the aerospace company’s stock valued at $148,000 after acquiring an additional 639 shares during the period. Finally, Municipal Employees Retirement System of Michigan lifted its position in AAR Corp. by 6.6% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,960 shares of the aerospace company’s stock valued at $381,000 after acquiring an additional 680 shares during the period. 87.68% of the stock is owned by institutional investors.
AAR Corp. (NYSE AIR) traded down $0.26 during trading hours on Friday, reaching $40.11. 170,000 shares of the company’s stock were exchanged, compared to its average volume of 188,402. The company has a market cap of $1,388.69, a price-to-earnings ratio of 27.10 and a beta of 1.33. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.38 and a current ratio of 2.90. AAR Corp. has a 1-year low of $31.20 and a 1-year high of $41.94.
AAR Corp. (NYSE:AIR) last released its quarterly earnings data on Tuesday, September 19th. The aerospace company reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. The business 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%. AAR Corp.’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $0.29 EPS. sell-side analysts anticipate that AAR Corp. will post 1.81 EPS for the current fiscal 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 dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, October 20th. This represents a $0.30 dividend on an annualized basis and a yield of 0.75%. AAR Corp.’s dividend payout ratio is currently 17.86%.
A number of research analysts recently issued reports on AIR shares. BidaskClub cut shares of AAR Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Noble Financial restated a “buy” rating on shares of AAR Corp. in a research note on Friday, August 11th. Canaccord Genuity assumed coverage on shares of AAR Corp. in a research note on Wednesday, September 6th. They set a “hold” rating and a $40.00 price objective for the company. Seaport Global Securities assumed coverage on shares of AAR Corp. in a research note on Tuesday, September 12th. They set a “neutral” rating and a $39.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of AAR Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, September 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. AAR Corp. presently has an average rating of “Hold” and an average target price of $46.20.
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In other news, Director Ronald R. Fogleman sold 3,000 shares of AAR Corp. stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $33.47, for a total value of $100,410.00. Following the completion of the sale, the director now directly owns 23,406 shares in the company, valued at $783,398.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.33% of the company’s stock.
AAR Corp. Company 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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