GSA Capital Partners LLP Reduces Position in AAR Corp. (AIR)
GSA Capital Partners LLP decreased its stake in AAR Corp. (NYSE:AIR) by 38.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,134 shares of the aerospace company’s stock after selling 29,355 shares during the period. GSA Capital Partners LLP owned about 0.13% of AAR worth $1,743,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. Piedmont Investment Advisors LLC acquired a new position in AAR in the 2nd quarter valued at approximately $240,000. Heartland Advisors Inc. increased its position in AAR by 99.4% in the 2nd quarter. Heartland Advisors Inc. now owns 273,369 shares of the aerospace company’s stock valued at $9,502,000 after acquiring an additional 136,261 shares during the period. American Century Companies Inc. acquired a new position in AAR in the 2nd quarter valued at approximately $4,659,000. Great West Life Assurance Co. Can increased its position in AAR by 3.8% in the 2nd quarter. Great West Life Assurance Co. Can now owns 45,716 shares of the aerospace company’s stock valued at $1,588,000 after acquiring an additional 1,656 shares during the period. Finally, Monarch Partners Asset Management LLC acquired a new position in AAR in the 3rd quarter valued at approximately $2,819,000. 88.07% of the stock is owned by institutional investors and hedge funds.
In other news, Director Ronald R. Fogleman sold 3,000 shares of the stock in a transaction on Friday, December 29th. The shares were sold at an average price of $33.47, for a total transaction of $100,410.00. Following the completion of the sale, the director now directly owns 23,406 shares in the company, valued at $783,398.82. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 9.33% of the company’s stock.
AAR (NYSE:AIR) last posted its quarterly earnings data on Tuesday, September 19th. The aerospace company reported $0.31 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. AAR had a net margin of 3.20% and a return on equity of 5.66%. The company had revenue of $439.20 million during the quarter, compared to analysts’ expectations of $410.52 million. During the same period in the prior year, the company posted $0.29 earnings per share. AAR’s revenue for the quarter was up 8.5% compared to the same quarter last year. research analysts anticipate that AAR Corp. will post 1.81 EPS for the current year.
Several equities analysts have issued reports on AIR shares. Zacks Investment Research upgraded shares of AAR from a “sell” rating to a “hold” rating in a research report on Thursday, September 14th. Seaport Global Securities started coverage on shares of AAR in a research report on Tuesday, September 12th. They issued a “neutral” rating and a $39.00 price target for the company. Canaccord Genuity restated a “hold” rating and issued a $40.00 price target on shares of AAR in a research report on Friday, October 13th. Finally, SunTrust Banks upped their price target on shares of AAR to $50.00 and gave the company a “buy” rating in a research report on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $42.25.
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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