Gabelli Funds LLC grew its holdings in shares of AAR Corp. (NYSE:AIR) by 61.8% in the 1st quarter, Holdings Channel reports. The firm owned 77,500 shares of the aerospace company’s stock after acquiring an additional 29,600 shares during the quarter. Gabelli Funds LLC’s holdings in AAR were worth $2,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in AAR by 4.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 461,073 shares of the aerospace company’s stock worth $22,079,000 after purchasing an additional 18,003 shares during the period. Renaissance Technologies LLC bought a new position in AAR in the 3rd quarter worth about $2,546,000. Jane Street Group LLC bought a new position in AAR in the 3rd quarter worth about $318,000. Teachers Advisors LLC boosted its stake in AAR by 20.2% in the 3rd quarter. Teachers Advisors LLC now owns 73,982 shares of the aerospace company’s stock worth $3,543,000 after purchasing an additional 12,417 shares during the period. Finally, Legal & General Group Plc boosted its stake in AAR by 9.1% in the 3rd quarter. Legal & General Group Plc now owns 75,573 shares of the aerospace company’s stock worth $3,580,000 after purchasing an additional 6,292 shares during the period. 92.49% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have commented on AIR. Canaccord Genuity restated a “buy” rating and issued a $48.00 target price on shares of AAR in a research note on Wednesday, March 20th. ValuEngine downgraded AAR from a “hold” rating to a “sell” rating in a research note on Tuesday, February 19th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $52.33.
Shares of AIR opened at $32.71 on Thursday. The stock has a market cap of $1.13 billion, a PE ratio of 18.27 and a beta of 1.00. The company has a quick ratio of 1.33, a current ratio of 2.76 and a debt-to-equity ratio of 0.20. AAR Corp. has a 12-month low of $31.51 and a 12-month high of $51.52.
AAR (NYSE:AIR) last issued its quarterly earnings results on Tuesday, March 19th. The aerospace company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.10. The firm had revenue of $529.50 million during the quarter, compared to the consensus estimate of $539.70 million. AAR had a positive return on equity of 9.30% and a negative net margin of 0.17%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the company posted $0.49 EPS. On average, equities analysts forecast that AAR Corp. will post 2.54 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.075 per share. The ex-dividend date is Tuesday, April 30th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.92%. AAR’s dividend payout ratio (DPR) is presently 16.76%.
In other news, Director Anthony Anderson sold 3,615 shares of AAR stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $33.23, for a total transaction of $120,126.45. Following the completion of the sale, the director now owns 19,469 shares in the company, valued at approximately $646,954.87. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 7.43% of the company’s stock.
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.
Further Reading: Portfolio Manager
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