AAR Corp. (AIR) Holdings Cut by Walthausen & Co. LLC
Walthausen & Co. LLC reduced its position in shares of AAR Corp. (NYSE:AIR) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 303,190 shares of the aerospace company’s stock after selling 1,460 shares during the quarter. Walthausen & Co. LLC owned 0.90% of AAR Corp. worth $10,539,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. raised its stake in AAR Corp. by 1.6% during the 2nd quarter. BlackRock Inc. now owns 4,731,967 shares of the aerospace company’s stock valued at $164,483,000 after purchasing an additional 74,499 shares during the period. Vanguard Group Inc. raised its stake in AAR Corp. by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 2,924,503 shares of the aerospace company’s stock valued at $98,350,000 after purchasing an additional 157,388 shares during the period. Northern Trust Corp raised its stake in AAR Corp. by 4.7% during the 2nd quarter. Northern Trust Corp now owns 1,278,094 shares of the aerospace company’s stock valued at $44,427,000 after purchasing an additional 57,466 shares during the period. State Street Corp raised its stake in AAR Corp. by 1.6% during the 2nd quarter. State Street Corp now owns 1,119,196 shares of the aerospace company’s stock valued at $38,901,000 after purchasing an additional 17,488 shares during the period. Finally, Rothschild Asset Management Inc. raised its stake in AAR Corp. by 3.9% during the 2nd quarter. Rothschild Asset Management Inc. now owns 662,410 shares of the aerospace company’s stock valued at $23,025,000 after purchasing an additional 24,974 shares during the period. 87.44% of the stock is currently owned by institutional investors.
In related news, VP Robert J. Regan sold 28,640 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $36.53, for a total value of $1,046,219.20. Following the sale, the vice president now directly owns 114,193 shares of the company’s stock, valued at approximately $4,171,470.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Timothy J. Romenesko sold 43,200 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $37.28, for a total transaction of $1,610,496.00. Following the completion of the sale, the insider now directly owns 317,665 shares in the company, valued at $11,842,551.20. The disclosure for this sale can be found here. Insiders sold a total of 91,840 shares of company stock worth $3,401,115 over the last ninety days. 9.33% of the stock is currently owned by insiders.
Several analysts have issued reports on AIR shares. Zacks Investment Research raised shares of AAR Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, September 14th. Seaport Global Securities started coverage on shares of AAR Corp. in a research note on Tuesday, September 12th. They set a “neutral” rating and a $39.00 target price on the stock. Noble Financial reissued a “buy” rating on shares of AAR Corp. in a research note on Thursday, July 13th. BidaskClub downgraded shares of AAR Corp. from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Finally, Canaccord Genuity started coverage on shares of AAR Corp. in a research note on Wednesday, September 6th. They set a “hold” rating and a $40.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $45.67.
AAR Corp. (NYSE AIR) traded down 0.9266% during trading on Wednesday, hitting $38.3414. 41,030 shares of the stock were exchanged. The stock has a 50 day moving average price of $36.72 and a 200-day moving average price of $35.58. AAR Corp. has a 12-month low of $30.37 and a 12-month high of $39.71. The firm has a market capitalization of $1.33 billion, a PE ratio of 26.4423 and a beta of 1.37.
AAR Corp. (NYSE:AIR) last announced its quarterly earnings results on Tuesday, September 19th. The aerospace company reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. The company had revenue of $439.20 million for the quarter, compared to analysts’ expectations of $410.52 million. AAR Corp. had a net margin of 3.20% and a return on equity of 5.66%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. On average, equities research analysts anticipate that AAR Corp. will post $1.77 earnings per share for the current fiscal year.
AAR Corp. announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, July 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the aerospace company to repurchase up to 20.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
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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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