Stone Ridge Asset Management LLC raised its position in AAR Corp. (NYSE:AIR) by 29.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,875 shares of the aerospace company’s stock after buying an additional 3,118 shares during the quarter. Stone Ridge Asset Management LLC’s holdings in AAR were worth $664,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AIR. Gabelli Funds LLC lifted its holdings in AAR by 15.2% during the third quarter. Gabelli Funds LLC now owns 28,789 shares of the aerospace company’s stock valued at $1,379,000 after purchasing an additional 3,789 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in AAR by 13.1% in the third quarter. Gamco Investors INC. ET AL now owns 79,200 shares of the aerospace company’s stock valued at $3,793,000 after buying an additional 9,200 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in AAR in the third quarter valued at about $204,000. Commerce Bank raised its stake in AAR by 22.9% in the third quarter. Commerce Bank now owns 13,662 shares of the aerospace company’s stock valued at $654,000 after buying an additional 2,550 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in AAR by 13.9% in the third quarter. Wells Fargo & Company MN now owns 64,937 shares of the aerospace company’s stock valued at $3,109,000 after buying an additional 7,949 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Ronald B. Woodard sold 10,239 shares of AAR stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $46.64, for a total transaction of $477,546.96. Following the transaction, the director now owns 12,482 shares in the company, valued at $582,160.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David P. Storch sold 18,800 shares of AAR stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $46.98, for a total value of $883,224.00. Following the transaction, the director now owns 619,222 shares in the company, valued at approximately $29,091,049.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,609 shares of company stock worth $2,354,979. Company insiders own 7.43% of the company’s stock.

AIR has been the subject of a number of research analyst reports. SunTrust Banks cut AAR from a “buy” rating to a “hold” rating and decreased their price target for the company from $50.00 to $47.00 in a research note on Tuesday, September 11th. Canaccord Genuity increased their price objective on AAR from $52.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, September 26th. Zacks Investment Research lowered AAR from a “buy” rating to a “hold” rating in a report on Wednesday, September 12th. Noble Financial reissued a “buy” rating and issued a $57.00 price objective on shares of AAR in a report on Thursday, September 27th. Finally, Credit Suisse Group increased their price objective on AAR from $51.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, September 28th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $53.17.

Shares of AIR stock opened at $43.71 on Tuesday. The company has a current ratio of 3.12, a quick ratio of 1.63 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $1.60 billion, a PE ratio of 24.42 and a beta of 1.08. AAR Corp. has a fifty-two week low of $36.46 and a fifty-two week high of $51.52.

AAR (NYSE:AIR) last announced its quarterly earnings data on Tuesday, September 25th. The aerospace company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $466.30 million for the quarter, compared to analyst estimates of $452.72 million. AAR had a return on equity of 7.27% and a net margin of 1.08%. The company’s revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 earnings per share. Research analysts anticipate that AAR Corp. will post 2.7 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 2nd. Stockholders of record on Monday, October 22nd were given a $0.075 dividend. The ex-dividend date was Friday, October 19th. This represents a $0.30 annualized dividend and a dividend yield of 0.69%. AAR’s dividend payout ratio (DPR) is presently 16.76%.

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About AAR

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.

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Institutional Ownership by Quarter for AAR (NYSE:AIR)

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