Insider Selling: AAR Corp. (AIR) VP Sells 28,640 Shares of Stock
AAR Corp. (NYSE:AIR) VP Robert J. Regan sold 28,640 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $36.53, for a total value of $1,046,219.20. Following the completion of the transaction, the vice president now directly owns 114,193 shares in the company, valued at approximately $4,171,470.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
AAR Corp. (NYSE:AIR) traded up 0.96% on Tuesday, hitting $36.65. The stock had a trading volume of 147,453 shares. AAR Corp. has a 52-week low of $23.34 and a 52-week high of $38.75. The company has a 50 day moving average price of $35.50 and a 200-day moving average price of $34.25. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 22.43 and a beta of 1.37.
AAR Corp. (NYSE:AIR) last issued its quarterly earnings data on Tuesday, July 11th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The business had revenue of $492.30 million during the quarter, compared to analysts’ expectations of $486.93 million. AAR Corp. had a return on equity of 5.69% and a net margin of 3.20%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. On average, equities research analysts predict that AAR Corp. will post $1.78 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 2nd. Stockholders of record on Friday, July 21st will be issued a $0.075 dividend. The ex-dividend date is Wednesday, July 19th. This represents a $0.30 annualized dividend and a dividend yield of 0.82%. AAR Corp.’s dividend payout ratio (DPR) is presently 18.18%.
AAR Corp. declared that its Board of Directors has initiated a stock buyback plan on Tuesday, July 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the aerospace company to buy up to 20.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
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A number of research analysts have weighed in on AIR shares. Zacks Investment Research downgraded AAR Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. BidaskClub downgraded AAR Corp. from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Finally, Noble Financial started coverage on AAR Corp. in a report on Monday, April 3rd. They issued a “buy” rating and a $40.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $46.80.
Institutional investors have recently modified their holdings of the stock. Neuberger Berman Group LLC boosted its position in shares of AAR Corp. by 27.4% in the first quarter. Neuberger Berman Group LLC now owns 23,129 shares of the aerospace company’s stock valued at $778,000 after buying an additional 4,971 shares during the period. Sei Investments Co. boosted its position in shares of AAR Corp. by 1.7% in the first quarter. Sei Investments Co. now owns 93,995 shares of the aerospace company’s stock valued at $3,161,000 after buying an additional 1,608 shares during the period. Teachers Advisors LLC boosted its position in shares of AAR Corp. by 79.3% in the fourth quarter. Teachers Advisors LLC now owns 122,104 shares of the aerospace company’s stock valued at $4,036,000 after buying an additional 54,011 shares during the period. Chicago Equity Partners LLC boosted its position in shares of AAR Corp. by 10.1% in the first quarter. Chicago Equity Partners LLC now owns 49,865 shares of the aerospace company’s stock valued at $1,677,000 after buying an additional 4,555 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of AAR Corp. by 15.9% in the first quarter. Victory Capital Management Inc. now owns 3,623 shares of the aerospace company’s stock valued at $122,000 after buying an additional 496 shares during the period. 89.25% of the stock is owned by institutional investors and hedge funds.
About AAR Corp.
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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