GW&K Investment Management LLC raised its holdings in AAR Corp. (NYSE:AIR) by 11.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,012,089 shares of the aerospace company’s stock after buying an additional 106,127 shares during the quarter. GW&K Investment Management LLC owned about 2.89% of AAR worth $41,709,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Stone Ridge Asset Management LLC acquired a new position in shares of AAR in the second quarter valued at about $405,000. South Dakota Investment Council increased its holdings in shares of AAR by 40.0% in the second quarter. South Dakota Investment Council now owns 28,850 shares of the aerospace company’s stock valued at $1,061,000 after purchasing an additional 8,250 shares during the period. First Mercantile Trust Co. acquired a new position in shares of AAR in the third quarter valued at about $566,000. Foundry Partners LLC increased its holdings in shares of AAR by 11.8% in the third quarter. Foundry Partners LLC now owns 146,591 shares of the aerospace company’s stock valued at $6,041,000 after purchasing an additional 15,503 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in shares of AAR by 128.4% in the third quarter. State of Alaska Department of Revenue now owns 25,320 shares of the aerospace company’s stock valued at $1,043,000 after purchasing an additional 14,235 shares during the period. 91.72% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on AIR. Independent Research reaffirmed a “neutral” rating and set a $133.00 target price on shares of AAR in a report on Thursday, October 31st. Nord/LB reaffirmed a “neutral” rating and set a $135.00 target price on shares of AAR in a report on Saturday, November 2nd. Stifel Nicolaus raised their target price on AAR from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Canaccord Genuity reaffirmed a “buy” rating and set a $52.00 target price (up from $48.00) on shares of AAR in a report on Thursday, September 26th. Finally, ValuEngine lowered AAR from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. AAR has an average rating of “Buy” and a consensus price target of $116.57.
In other AAR news, CAO Eric Pachapa sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $42.04, for a total value of $42,040.00. Following the sale, the chief accounting officer now directly owns 10,889 shares of the company’s stock, valued at $457,773.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.01% of the stock is currently owned by company insiders.
AIR traded down $0.84 during trading 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 company has a current ratio of 2.58, a quick ratio of 1.18 and a debt-to-equity ratio of 0.30. AAR Corp. has a twelve month low of $29.84 and a twelve month high of $49.72. The business’s fifty day simple moving average is $41.75 and its 200 day simple moving average is $38.69. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 18.37 and a beta of 1.11.
AAR (NYSE:AIR) last issued its quarterly earnings data 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 positive return on equity of 9.94% and a negative net margin of 0.15%. The company had revenue of $541.50 million for the quarter, compared to analyst estimates of $495.03 million. During the same period last year, the company earned $0.54 earnings per share. AAR’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, equities research analysts forecast that AAR Corp. will post 2.62 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.69%. The ex-dividend date was Friday, October 4th. AAR’s payout ratio is currently 12.71%.
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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