Teachers Retirement System of The State of Kentucky Has $360,000 Position in AAR Corp. (AIR)
Teachers Retirement System of The State of Kentucky held its stake in AAR Corp. (NYSE:AIR) during the first quarter, Holdings Channel reports. The institutional investor owned 10,700 shares of the aerospace company’s stock at the end of the first quarter. Teachers Retirement System of The State of Kentucky’s holdings in AAR Corp. were worth $360,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of AIR. BlackRock Inc. raised its stake 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 valued at $156,630,000 after buying an additional 4,641,493 shares during the period. Vanguard Group Inc. raised its stake 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 stake 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 stake 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 stake 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. 88.75% of the stock is currently owned by institutional investors.
AAR Corp. (NYSE:AIR) traded down 0.43% during mid-day trading on Friday, hitting $36.84. The company had a trading volume of 136,867 shares. AAR Corp. has a one year low of $23.34 and a one year high of $38.75. The company’s 50 day moving average price is $35.76 and its 200-day moving average price is $34.45. The company has a market cap of $1.24 billion, a PE ratio of 22.55 and a beta of 1.38.
AAR Corp. (NYSE:AIR) last announced its earnings results on Tuesday, July 11th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $492.30 million for the quarter, compared to analyst estimates of $486.93 million. AAR Corp. had a return on equity of 5.69% and a net margin of 3.20%. AAR Corp.’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. Equities research analysts anticipate that AAR Corp. will post $1.78 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Friday, July 21st were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date was Wednesday, July 19th. AAR Corp.’s dividend payout ratio (DPR) is presently 18.18%.
AAR Corp. announced that its Board of Directors has initiated a share repurchase program on Tuesday, July 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the aerospace company to repurchase 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 shares are undervalued.
A number of research firms recently commented on AIR. Noble Financial reaffirmed a “buy” rating on shares of AAR Corp. in a research note on Thursday, July 13th. Zacks Investment Research raised AAR Corp. from a “sell” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Tuesday, May 23rd. Finally, BidaskClub lowered AAR Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. AAR Corp. currently has an average rating of “Buy” and a consensus target price of $46.80.
In other news, Director Anthony Anderson sold 3,500 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $35.21, for a total transaction of $123,235.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Timothy J. Romenesko sold 43,200 shares of the business’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $37.28, for a total value of $1,610,496.00. Following 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 have sold 95,340 shares of company stock worth $3,524,350 over the last ninety days. 8.23% of the stock is owned by insiders.
About AAR Corp.
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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