AAR Corp. (AIR) Shares Bought by Legal & General Group Plc
Legal & General Group Plc boosted its stake in AAR Corp. (NYSE:AIR) by 4.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 79,057 shares of the aerospace company’s stock after purchasing an additional 3,484 shares during the quarter. Legal & General Group Plc’s holdings in AAR were worth $2,940,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund purchased a new position in AAR in the 4th quarter valued at $463,000. State of Alaska Department of Revenue lifted its holdings in AAR by 2.7% in the 4th quarter. State of Alaska Department of Revenue now owns 10,897 shares of the aerospace company’s stock valued at $406,000 after purchasing an additional 290 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in AAR by 103.7% in the 4th quarter. Gamco Investors INC. ET AL now owns 161,300 shares of the aerospace company’s stock valued at $6,023,000 after purchasing an additional 82,100 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in AAR by 10.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 71,797 shares of the aerospace company’s stock valued at $3,438,000 after purchasing an additional 7,043 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in AAR in the 3rd quarter valued at $2,546,000. 90.91% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Anthony Anderson sold 3,615 shares of AAR stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $33.23, for a total transaction of $120,126.45. Following the transaction, the director now owns 19,469 shares in the company, valued at approximately $646,954.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.43% of the stock is owned by insiders.
AAR (NYSE:AIR) last announced its quarterly earnings data on Tuesday, March 19th. The aerospace company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.10. The company had revenue of $529.50 million for the quarter, compared to analyst estimates of $539.70 million. AAR had a positive return on equity of 9.30% and a negative net margin of 0.17%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 EPS. Sell-side analysts expect that AAR Corp. will post 2.54 EPS for the current year.
A number of research analysts have weighed in on the company. Canaccord Genuity restated a “buy” rating and issued a $48.00 price objective on shares of AAR in a report on Wednesday, March 20th. ValuEngine lowered AAR from a “hold” rating to a “sell” rating in a report on Tuesday, February 19th. Two investment 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 stock presently has a consensus rating of “Hold” and an average price target of $52.33.
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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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