D. E. Shaw & Co. Inc. decreased its position in AAR Corp. (NYSE:AIR) by 38.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,616 shares of the aerospace company’s stock after selling 5,476 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in AAR were worth $317,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. LPL Financial LLC bought a new position in shares of AAR in the 2nd quarter valued at about $210,000. Bank of Montreal Can grew its holdings in shares of AAR by 68.4% in the 2nd quarter. Bank of Montreal Can now owns 6,189 shares of the aerospace company’s stock valued at $228,000 after acquiring an additional 2,514 shares in the last quarter. Menta Capital LLC bought a new position in shares of AAR in the 2nd quarter valued at about $238,000. Capital Fund Management S.A. bought a new position in shares of AAR in the 2nd quarter valued at about $243,000. Finally, Zebra Capital Management LLC bought a new position in shares of AAR in the 2nd quarter valued at about $314,000. 89.94% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CAO Eric Pachapa sold 1,000 shares of AAR stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $42.04, for a total transaction of $42,040.00. Following the completion of the transaction, the chief accounting officer now owns 10,889 shares in the company, valued at $457,773.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.01% of the company’s stock.
AAR (NYSE:AIR) last posted its quarterly earnings results on Wednesday, September 25th. The aerospace company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. AAR had a positive return on equity of 9.94% and a negative net margin of 0.15%. The business had revenue of $541.50 million during the quarter, compared to analysts’ expectations of $495.03 million. During the same quarter last year, the company posted $0.54 earnings per share. AAR’s quarterly revenue was up 16.1% on a year-over-year basis. Research analysts forecast that AAR Corp. will post 2.62 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Friday, October 4th. AAR’s payout ratio is currently 12.71%.
Several brokerages have recently weighed in on AIR. Canaccord Genuity restated a “buy” rating and issued a $52.00 price objective (up previously from $48.00) on shares of AAR in a report on Thursday, September 26th. Zacks Investment Research upgraded AAR from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Monday, September 30th. SunTrust Banks raised their price objective on AAR from $40.00 to $46.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Stifel Nicolaus raised their price objective on AAR from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $54.00 price objective (up previously from $46.00) on shares of AAR in a report on Thursday, September 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $50.20.
AAR Company Profile
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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