AAR Corp. (AIR) Stake Maintained by Prescott Group Capital Management L.L.C.
Prescott Group Capital Management L.L.C. held its position in AAR Corp. (NYSE:AIR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,270 shares of the aerospace company’s stock at the end of the second quarter. Prescott Group Capital Management L.L.C. owned about 0.19% of AAR Corp. worth $2,199,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in AIR. BlackRock Inc. raised its position in AAR Corp. by 29,054.7% in the first quarter. BlackRock Inc. now owns 4,657,468 shares of the aerospace company’s stock worth $156,630,000 after buying an additional 4,641,493 shares during the last quarter. Vanguard Group Inc. raised its position in AAR Corp. by 5.7% in the first quarter. Vanguard Group Inc. now owns 2,924,503 shares of the aerospace company’s stock worth $98,350,000 after buying an additional 157,388 shares during the last quarter. State Street Corp raised its position in AAR Corp. by 3.6% in the first quarter. State Street Corp now owns 1,101,708 shares of the aerospace company’s stock worth $37,049,000 after buying an additional 37,935 shares during the last quarter. JPMorgan Chase & Co. raised its position in AAR Corp. by 3.0% in the first quarter. JPMorgan Chase & Co. now owns 915,183 shares of the aerospace company’s stock worth $30,777,000 after buying an additional 26,677 shares during the last quarter. Finally, Rothschild Asset Management Inc. raised its position in AAR Corp. by 2.3% in the first quarter. Rothschild Asset Management Inc. now owns 637,436 shares of the aerospace company’s stock worth $21,437,000 after buying an additional 14,564 shares during the last quarter. Institutional investors and hedge funds own 90.04% of the company’s stock.
Shares of AAR Corp. (NYSE AIR) traded down 0.84% during trading on Friday, hitting $36.49. The company had a trading volume of 208,486 shares. The stock’s 50-day moving average is $35.45 and its 200 day moving average is $34.19. The firm has a market capitalization of $1.23 billion, a P/E ratio of 22.33 and a beta of 1.37. AAR Corp. has a 52-week low of $23.34 and a 52-week high of $38.75.
AAR Corp. (NYSE:AIR) last announced its earnings results on Tuesday, July 11th. The aerospace company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. AAR Corp. had a net margin of 3.20% and a return on equity of 5.69%. The business had revenue of $492.30 million during the quarter, compared to the consensus estimate of $486.93 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities research analysts predict that AAR Corp. will post $1.78 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 2nd. Investors of record on Friday, July 21st will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, July 19th. This represents a $0.30 annualized dividend and a yield of 0.82%. AAR Corp.’s dividend payout ratio is currently 18.18%.
AAR Corp. declared that its board has initiated a stock repurchase program on Tuesday, July 11th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the aerospace company to purchase up to 20.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
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A number of equities analysts have weighed in on AIR shares. Zacks Investment Research lowered AAR Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Noble Financial reiterated a “buy” rating on shares of AAR Corp. in a research note on Thursday, July 13th. Finally, BidaskClub lowered AAR Corp. from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $46.80.
In related news, Director Anthony Anderson sold 3,500 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $35.21, for a total transaction of $123,235.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Timothy J. Romenesko sold 43,200 shares of the stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $37.28, for a total transaction of $1,610,496.00. Following the transaction, the insider now directly owns 317,665 shares of the company’s stock, valued at $11,842,551.20. The disclosure for this sale can be found here. Insiders have sold 66,700 shares of company stock valued at $2,478,131 over the last three months. 8.23% of the stock is currently owned by corporate insiders.
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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