19,042 Shares in AAR Corp. (AIR) Purchased by Millennium Management LLC
Millennium Management LLC purchased a new stake in shares of AAR Corp. (NYSE:AIR) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 19,042 shares of the aerospace company’s stock, valued at approximately $840,000.
Other institutional investors also recently modified their holdings of the company. Federated Investors Inc. PA increased its stake in AAR by 144.1% during the 1st quarter. Federated Investors Inc. PA now owns 3,146 shares of the aerospace company’s stock valued at $139,000 after purchasing an additional 1,857 shares in the last quarter. Adviser Investments LLC acquired a new position in AAR during the 1st quarter valued at approximately $166,000. SG Americas Securities LLC increased its stake in AAR by 92.5% during the 1st quarter. SG Americas Securities LLC now owns 4,972 shares of the aerospace company’s stock valued at $219,000 after purchasing an additional 2,389 shares in the last quarter. Profund Advisors LLC acquired a new position in AAR during the 1st quarter valued at approximately $256,000. Finally, Verition Fund Management LLC acquired a new position in AAR during the 1st quarter valued at approximately $298,000. Institutional investors and hedge funds own 91.14% of the company’s stock.
AIR has been the topic of a number of recent analyst reports. Seaport Global Securities restated a “buy” rating and set a $52.00 price target on shares of AAR in a research note on Friday, July 13th. Canaccord Genuity restated a “buy” rating and set a $52.00 price target (up previously from $48.00) on shares of AAR in a research note on Wednesday, July 11th. Finally, Zacks Investment Research upgraded shares of AAR from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. AAR presently has a consensus rating of “Buy” and a consensus target price of $50.60.
AAR (NYSE:AIR) last released its quarterly earnings data on Tuesday, July 10th. The aerospace company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. The business had revenue of $474.00 million for the quarter, compared to the consensus estimate of $483.51 million. AAR had a net margin of 0.85% and a return on equity of 6.39%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. research analysts expect that AAR Corp. will post 2.71 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 31st. Stockholders of record on Friday, July 20th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Thursday, July 19th. AAR’s dividend payout ratio (DPR) is currently 16.76%.
In other news, Director David P. Storch sold 63,736 shares of the company’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $47.20, for a total value of $3,008,339.20. Following the sale, the director now directly owns 705,281 shares of the company’s stock, valued at approximately $33,289,263.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David P. Storch sold 11,764 shares of the company’s stock in a transaction on Friday, July 20th. The shares were sold at an average price of $47.07, for a total transaction of $553,731.48. Following the completion of the sale, the director now directly owns 819,945 shares in the company, valued at $38,594,811.15. The disclosure for this sale can be found here. Insiders sold a total of 102,739 shares of company stock worth $4,850,280 over the last ninety days. Insiders own 9.33% of the company’s stock.
AAR Company Profile
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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