New York State Teachers Retirement System Decreases Position in AAR Corp. (AIR)
New York State Teachers Retirement System reduced its position in AAR Corp. (NYSE:AIR) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,679 shares of the company’s stock after selling 5,000 shares during the period. New York State Teachers Retirement System’s holdings in AAR Corp. were worth $2,210,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its position in shares of AAR Corp. by 2.8% in the second quarter. Nisa Investment Advisors LLC now owns 5,450 shares of the company’s stock worth $127,000 after buying an additional 150 shares during the last quarter. Springbok Capital Management LLC increased its stake in AAR Corp. by 6,100.0% in the first quarter. Springbok Capital Management LLC now owns 6,200 shares of the company’s stock worth $144,000 after buying an additional 6,100 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in AAR Corp. by 4.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 9,400 shares of the company’s stock worth $219,000 after buying an additional 400 shares during the period. BNP Paribas Arbitrage SA increased its stake in AAR Corp. by 101.1% in the second quarter. BNP Paribas Arbitrage SA now owns 10,865 shares of the company’s stock worth $254,000 after buying an additional 5,462 shares during the period. Finally, Acadian Asset Management LLC increased its stake in AAR Corp. by 256.1% in the second quarter. Acadian Asset Management LLC now owns 13,783 shares of the company’s stock worth $321,000 after buying an additional 9,913 shares during the period. Institutional investors own 88.18% of the company’s stock.
Shares of AAR Corp. (NYSE:AIR) traded down 0.81% during midday trading on Friday, hitting $30.71. 271,515 shares of the stock were exchanged. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 31.08 and a beta of 1.64. AAR Corp. has a 12 month low of $18.36 and a 12 month high of $32.15. The firm’s 50-day moving average is $28.86 and its 200-day moving average is $25.04.
AAR Corp. (NYSE:AIR) last released its quarterly earnings data on Thursday, September 22nd. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.03. AAR Corp. had a net margin of 2.03% and a return on equity of 4.70%. The firm had revenue of $404.80 million for the quarter. During the same quarter in the prior year, the business posted $0.28 earnings per share. AAR Corp.’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts predict that AAR Corp. will post $1.44 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 4th. Stockholders of record on Monday, October 24th will be paid a dividend of $0.075 per share. The ex-dividend date is Thursday, October 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.98%. AAR Corp.’s dividend payout ratio is presently 30.00%.
A number of equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of AAR Corp. from a “hold” rating to a “strong sell” rating in a research report on Friday, July 15th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $74.00 target price on shares of AAR Corp. in a research report on Tuesday. Finally, TheStreet raised shares of AAR Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, July 13th.
In other AAR Corp. news, Director Peter Pace sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of €29.13 ($32.37), for a total value of €145,650.00 ($161,833.33). Following the completion of the sale, the director now directly owns 20,048 shares in the company, valued at €583,998.24 ($648,886.93). The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Robert J. Regan sold 14,002 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of €30.92 ($34.36), for a total transaction of €432,941.84 ($481,046.49). Following the completion of the sale, the vice president now owns 141,314 shares of the company’s stock, valued at €4,369,428.88 ($4,854,920.98). The disclosure for this sale can be found here. Insiders own 8.23% of the company’s stock.
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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