AAR Corp. (NYSE:AIR) Vice Chairman Timothy J. Romenesko sold 43,200 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $37.28, for a total value of $1,610,496.00. Following the completion of the sale, the insider now directly owns 317,665 shares in the company, valued at approximately $11,842,551.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
AAR Corp. (NYSE:AIR) opened at 36.75 on Thursday. AAR Corp. has a 1-year low of $23.34 and a 1-year high of $38.75. The stock has a market cap of $1.24 billion, a PE ratio of 22.49 and a beta of 1.37. The stock has a 50 day moving average price of $35.40 and a 200 day moving average price of $34.17.
AAR Corp. (NYSE:AIR) last released its quarterly earnings data on Tuesday, July 11th. The aerospace company reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. The business had revenue of $492.30 million during the quarter, compared to analyst estimates 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 was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. On average, analysts predict that AAR Corp. will post $1.82 EPS for the current fiscal year.
AAR Corp. declared that its board has authorized a share 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 purchase up to 20.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 2nd. Investors of record on Friday, July 21st will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Wednesday, July 19th. AAR Corp.’s payout ratio is 18.18%.
Several equities analysts recently issued reports on AIR shares. Zacks Investment Research lowered AAR Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. BidaskClub cut AAR Corp. from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Finally, Noble Financial started coverage on AAR Corp. in a research note on Monday, April 3rd. They set a “buy” rating and a $40.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. AAR Corp. has a consensus rating of “Buy” and an average target price of $46.80.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in AAR Corp. by 28.9% in the fourth quarter. State Street Corp now owns 1,063,773 shares of the aerospace company’s stock worth $35,161,000 after buying an additional 238,508 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of AAR Corp. by 4.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 17,190 shares of the aerospace company’s stock worth $568,000 after buying an additional 800 shares during the last quarter. Norges Bank purchased a new stake in shares of AAR Corp. during the fourth quarter worth about $6,654,000. Teachers Advisors LLC raised its stake 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 worth $4,036,000 after buying an additional 54,011 shares during the last quarter. Finally, Foundry Partners LLC raised its stake in shares of AAR Corp. by 16.7% in the first quarter. Foundry Partners LLC now owns 335,933 shares of the aerospace company’s stock worth $11,297,000 after buying an additional 48,028 shares during the last quarter. 90.04% of the stock is currently owned by institutional investors and hedge funds.
AAR Corp. Company Profile
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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