Bank of New York Mellon Corp raised its stake in AAR Corp. (NYSE:AIR) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 443,070 shares of the aerospace company’s stock after buying an additional 10,979 shares during the quarter. Bank of New York Mellon Corp owned 1.28% of AAR worth $20,598,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. State of Wisconsin Investment Board acquired a new position in AAR in the second quarter valued at about $2,162,000. SG Americas Securities LLC lifted its stake in AAR by 92.5% in the first quarter. SG Americas Securities LLC now owns 4,972 shares of the aerospace company’s stock valued at $219,000 after buying an additional 2,389 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in AAR by 2.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 334,625 shares of the aerospace company’s stock valued at $14,761,000 after buying an additional 8,721 shares during the period. Thrivent Financial for Lutherans raised its position in shares of AAR by 9.0% during the first quarter. Thrivent Financial for Lutherans now owns 21,746 shares of the aerospace company’s stock worth $959,000 after purchasing an additional 1,793 shares during the period. Finally, Ceredex Value Advisors LLC acquired a new stake in shares of AAR during the first quarter worth about $23,557,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.
NYSE AIR opened at $42.76 on Friday. The stock has a market cap of $1.51 billion, a PE ratio of 23.89 and a beta of 1.24. The company has a current ratio of 2.83, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. AAR Corp. has a one year low of $34.93 and a one year high of $49.05.
AAR (NYSE:AIR) last released its quarterly earnings results on Tuesday, July 10th. The aerospace company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.03. The company had revenue of $474.00 million for the quarter, compared to analyst estimates of $483.51 million. AAR had a return on equity of 6.39% and a net margin of 0.85%. AAR’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. research analysts anticipate that AAR Corp. will post 2.66 earnings per share for the current fiscal year.
A number of research firms have recently commented on AIR. Canaccord Genuity reaffirmed a “buy” rating and set a $52.00 price target (up previously from $48.00) on shares of AAR in a research report on Wednesday, July 11th. Zacks Investment Research raised AAR from a “sell” rating to a “hold” rating in a research report on Tuesday, June 12th. SunTrust Banks lowered AAR from a “buy” rating to a “hold” rating and dropped their price target for the stock from $50.00 to $47.00 in a research report on Tuesday, September 11th. Finally, Seaport Global Securities reaffirmed a “buy” rating and set a $52.00 price target on shares of AAR in a research report on Friday, July 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. AAR presently has an average rating of “Buy” and an average price target of $50.80.
In related news, VP Robert J. Regan sold 24,239 shares of the stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $47.36, for a total transaction of $1,147,959.04. Following the completion of the transaction, the vice president now directly owns 116,777 shares in the company, valued at $5,530,558.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Eric Pachapa sold 3,000 shares of the stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $46.75, for a total value of $140,250.00. Following the transaction, the chief accounting officer now owns 9,626 shares of the company’s stock, valued at $450,015.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 102,739 shares of company stock valued at $4,850,280. 7.43% of the stock is owned by corporate insiders.
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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