Ronald R. Fogleman Sells 3,000 Shares of AAR Corp. (AIR) Stock
AAR Corp. (NYSE:AIR) Director Ronald R. Fogleman sold 3,000 shares of the stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $33.47, for a total value of $100,410.00. Following the transaction, the director now directly owns 23,406 shares in the company, valued at approximately $783,398.82. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of AAR Corp. (NYSE AIR) traded down 0.08% during midday trading on Thursday, reaching $38.67. The company’s stock had a trading volume of 115,068 shares. AAR Corp. has a 52 week low of $31.07 and a 52 week high of $39.71. The firm’s 50 day moving average is $37.57 and its 200 day moving average is $35.95. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 23.24 and a beta of 1.37.
AAR Corp. (NYSE:AIR) last issued its quarterly earnings data on Tuesday, September 19th. The aerospace company reported $0.31 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.31. The company had revenue of $439.20 million for the quarter, compared to analysts’ expectations of $410.52 million. AAR Corp. had a return on equity of 5.66% and a net margin of 3.20%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 earnings per share. Equities analysts forecast that AAR Corp. will post $1.77 EPS for the current fiscal year.
AAR Corp. declared that its board has approved a stock buyback program on Tuesday, July 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the aerospace company to reacquire up to 20.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Monday, October 23rd will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Friday, October 20th. AAR Corp.’s dividend payout ratio is presently 17.86%.
WARNING: This report was first reported by American Banking News and is owned by of American Banking News. If you are accessing this report on another website, it was stolen and republished in violation of United States & international trademark and copyright legislation. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/10/26/ronald-r-fogleman-sells-3000-shares-of-aar-corp-air-stock.html.
Large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake 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 worth $122,000 after acquiring an additional 496 shares in the last quarter. FNY Partners Fund LP acquired a new position in shares of AAR Corp. in the first quarter worth about $127,000. Cubist Systematic Strategies LLC acquired a new position in shares of AAR Corp. in the second quarter worth about $213,000. State of Alaska Department of Revenue lifted its stake in shares of AAR Corp. by 79.2% in the second quarter. State of Alaska Department of Revenue now owns 6,307 shares of the aerospace company’s stock worth $219,000 after acquiring an additional 2,787 shares in the last quarter. Finally, OxFORD Asset Management LLP acquired a new position in shares of AAR Corp. in the second quarter worth about $230,000. Institutional investors and hedge funds own 87.40% of the company’s stock.
AIR has been the topic of several research reports. Canaccord Genuity reissued a “hold” rating and set a $40.00 target price on shares of AAR Corp. in a research note on Friday, October 13th. Zacks Investment Research raised AAR Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, September 14th. Seaport Global Securities initiated coverage on AAR Corp. in a research note on Tuesday, September 12th. They set a “neutral” rating and a $39.00 target price on the stock. Noble Financial reissued a “buy” rating on shares of AAR Corp. in a research note on Thursday, July 13th. Finally, BidaskClub lowered AAR Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $46.20.
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.
Receive News & Ratings for AAR Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AAR Corp. and related companies with MarketBeat.com's FREE daily email newsletter.