BlackRock Inc. raised its position in shares of AAR Corp. (NYSE:AIR) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,329,972 shares of the aerospace company’s stock after acquiring an additional 217,049 shares during the quarter. BlackRock Inc. owned about 15.35% of AAR worth $209,416,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Macquarie Group Ltd. bought a new stake in AAR during the third quarter valued at $144,000. Highbridge Capital Management LLC bought a new stake in AAR during the third quarter valued at $200,000. Group One Trading L.P. bought a new stake in AAR during the third quarter valued at $233,000. Victory Capital Management Inc. boosted its position in AAR by 52.3% during the third quarter. Victory Capital Management Inc. now owns 6,493 shares of the aerospace company’s stock valued at $245,000 after acquiring an additional 2,231 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in AAR during the third quarter valued at $356,000. 89.38% of the stock is currently owned by institutional investors and hedge funds.
NYSE AIR traded down $0.84 during trading hours on Friday, hitting $43.23. The company’s stock had a trading volume of 334,902 shares, compared to its average volume of 292,020. AAR Corp. has a 52 week low of $32.57 and a 52 week high of $45.60. The stock has a market cap of $1,530.52, a price-to-earnings ratio of 29.81 and a beta of 1.22. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.41 and a current ratio of 2.86.
AAR (NYSE:AIR) last announced its quarterly earnings results on Tuesday, March 20th. The aerospace company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. AAR had a net margin of 1.34% and a return on equity of 6.02%. The business had revenue of $456.30 million for the quarter, compared to analysts’ expectations of $475.89 million. During the same quarter last year, the firm earned $0.39 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. sell-side analysts predict that AAR Corp. will post 1.81 EPS for the current year.
A number of equities analysts have recently issued reports on AIR shares. Seaport Global Securities raised shares of AAR from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $39.00 to $50.00 in a research report on Tuesday, January 16th. Noble Financial reissued a “buy” rating on shares of AAR in a research report on Friday, December 22nd. Canaccord Genuity raised shares of AAR from a “hold” rating to a “buy” rating and increased their price objective for the stock from $42.00 to $46.00 in a research report on Thursday, February 8th. ValuEngine raised shares of AAR from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. Finally, TheStreet cut shares of AAR from a “b” rating to a “c+” rating in a research report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $49.00.
In other AAR news, CEO David P. Storch sold 50,000 shares of the stock in a transaction dated Wednesday, March 28th. The shares were sold at an average price of $44.02, for a total value of $2,201,000.00. Following the completion of the sale, the chief executive officer now owns 667,259 shares in the company, valued at approximately $29,372,741.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David P. Storch sold 126,679 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $41.53, for a total transaction of $5,260,978.87. Following the completion of the sale, the chief executive officer now owns 759,639 shares of the company’s stock, valued at approximately $31,547,807.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 186,679 shares of company stock worth $7,895,229. 9.33% of the stock is owned by insiders.
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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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