Gamco Investors INC. ET AL Has $2,433,000 Stake in AAR Corp. (AIR)
Gamco Investors INC. ET AL continued to hold its position in shares of AAR Corp. (NYSE:AIR) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 70,000 shares of the aerospace company’s stock at the end of the second quarter. Gamco Investors INC. ET AL owned 0.21% of AAR Corp. worth $2,433,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bank of Montreal Can boosted its position in shares of AAR Corp. by 10.1% in the first quarter. Bank of Montreal Can now owns 3,371 shares of the aerospace company’s stock valued at $114,000 after buying an additional 309 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of AAR Corp. by 0.9% in the first quarter. State of Alaska Department of Revenue now owns 3,520 shares of the aerospace company’s stock valued at $118,000 after buying an additional 30 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of AAR Corp. by 15.9% in the first quarter. Victory Capital Management Inc. now owns 3,623 shares of the aerospace company’s stock valued at $122,000 after buying an additional 496 shares during the last quarter. FNY Partners Fund LP bought a new position in shares of AAR Corp. during the first quarter valued at about $127,000. Finally, BNP Paribas Arbitrage SA boosted its position in shares of AAR Corp. by 12.2% in the first quarter. BNP Paribas Arbitrage SA now owns 6,579 shares of the aerospace company’s stock valued at $221,000 after buying an additional 715 shares during the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.
AAR Corp. (NYSE AIR) opened at 35.54 on Friday. AAR Corp. has a one year low of $24.25 and a one year high of $38.75. The stock has a 50 day moving average of $36.27 and a 200 day moving average of $34.87. The firm has a market cap of $1.20 billion, a PE ratio of 21.75 and a beta of 1.38.
AAR Corp. (NYSE:AIR) last issued its earnings results on Tuesday, July 11th. The aerospace company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $492.30 million during 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 was up 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 earnings per share. On average, equities analysts forecast that AAR Corp. will post $1.78 earnings per share for the current year.
AAR Corp. announced that its Board of Directors has authorized a share repurchase plan on Tuesday, July 11th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase up to 20.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Investors of record on Friday, July 21st were paid a $0.075 dividend. The ex-dividend date was Wednesday, July 19th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.84%. AAR Corp.’s payout ratio is 18.18%.
Several brokerages have recently issued reports on AIR. Noble Financial restated a “buy” rating on shares of AAR Corp. in a report on Friday, August 11th. BidaskClub cut shares of AAR Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Zacks Investment Research upgraded shares of AAR Corp. from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a report on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. AAR Corp. has a consensus rating of “Buy” and an average price target of $46.80.
In other AAR Corp. news, VP Robert J. Regan sold 28,640 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was 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 in the company, valued at $4,171,470.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Timothy J. Romenesko sold 43,200 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $37.28, for a total value of $1,610,496.00. Following the completion of the sale, the insider now owns 317,665 shares in the company, valued at $11,842,551.20. The disclosure for this sale can be found here. Insiders sold 91,840 shares of company stock worth $3,401,115 over the last quarter. Company insiders own 8.23% of the company’s stock.
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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