Gabelli Funds LLC Decreases Stake in AAR Corp. (NYSE:AIR)

Gabelli Funds LLC lowered its position in AAR Corp. (NYSE:AIR) by 39.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,000 shares of the aerospace company’s stock after selling 36,500 shares during the quarter. Gabelli Funds LLC owned approximately 0.16% of AAR worth $2,267,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AIR. FMR LLC lifted its position in shares of AAR by 13,915.1% during the 1st quarter. FMR LLC now owns 59,424 shares of the aerospace company’s stock worth $1,932,000 after buying an additional 59,000 shares during the last quarter. First Trust Advisors LP lifted its position in shares of AAR by 122.8% during the 1st quarter. First Trust Advisors LP now owns 20,719 shares of the aerospace company’s stock worth $674,000 after buying an additional 11,421 shares during the last quarter. Arizona State Retirement System lifted its position in shares of AAR by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 50,589 shares of the aerospace company’s stock worth $1,861,000 after buying an additional 240 shares during the last quarter. Systematic Financial Management LP purchased a new stake in shares of AAR during the 2nd quarter worth approximately $1,039,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of AAR during the 2nd quarter worth approximately $414,000. Institutional investors own 91.72% of the company’s stock.

AIR stock traded down $0.84 on Friday, hitting $43.35. The company’s stock had a trading volume of 105,572 shares, compared to its average volume of 272,108. The firm has a 50 day moving average of $41.75 and a two-hundred day moving average of $38.69. AAR Corp. has a 1 year low of $29.84 and a 1 year high of $49.72. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 18.37 and a beta of 1.11. The company has a current ratio of 2.58, a quick ratio of 1.18 and a debt-to-equity ratio of 0.30.

AAR (NYSE:AIR) last released its quarterly earnings results on Wednesday, September 25th. The aerospace company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.51 by $0.06. AAR had a negative net margin of 0.15% and a positive return on equity of 9.94%. The firm had revenue of $541.50 million during the quarter, compared to the consensus estimate of $495.03 million. During the same quarter in the prior year, the firm earned $0.54 EPS. AAR’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, equities analysts forecast that AAR Corp. will post 2.62 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were given a $0.075 dividend. The ex-dividend date was Friday, October 4th. This represents a $0.30 annualized dividend and a yield of 0.69%. AAR’s dividend payout ratio (DPR) is 12.71%.

AIR has been the subject of several recent analyst reports. DZ Bank restated a “neutral” rating on shares of AAR in a research report on Thursday, October 31st. Nord/LB restated a “neutral” rating and set a $135.00 price objective on shares of AAR in a research report on Saturday, November 2nd. SunTrust Banks boosted their price objective on shares of AAR from $40.00 to $46.00 and gave the stock a “hold” rating in a research report on Thursday, September 26th. Stifel Nicolaus boosted their price objective on shares of AAR from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Credit Suisse Group restated a “buy” rating and set a $140.00 price objective on shares of AAR in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. AAR has a consensus rating of “Buy” and an average price target of $116.57.

In related news, CAO Eric Pachapa sold 1,000 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $42.04, for a total value of $42,040.00. Following the completion of the sale, the chief accounting officer now owns 10,889 shares in the company, valued at approximately $457,773.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.01% of the stock is owned by corporate insiders.

AAR 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.

Read More: Trading on Margin

Institutional Ownership by Quarter for AAR (NYSE:AIR)

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