Monarch Partners Asset Management LLC Purchases Shares of 74,620 AAR Corp. (AIR)
Monarch Partners Asset Management LLC purchased a new position in shares of AAR Corp. (NYSE:AIR) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 74,620 shares of the aerospace company’s stock, valued at approximately $2,819,000. Monarch Partners Asset Management LLC owned about 0.22% of AAR Corp. at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of AIR. Thrivent Financial For Lutherans boosted its position in AAR Corp. by 4.8% during the first quarter. Thrivent Financial For Lutherans now owns 18,010 shares of the aerospace company’s stock worth $606,000 after acquiring an additional 820 shares during the last quarter. Vanguard Group Inc. boosted its holdings in AAR Corp. by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 2,924,503 shares of the aerospace company’s stock valued at $98,350,000 after purchasing an additional 157,388 shares during the last quarter. Geode Capital Management LLC boosted its holdings in AAR Corp. by 3.1% in the 1st quarter. Geode Capital Management LLC now owns 245,316 shares of the aerospace company’s stock valued at $8,249,000 after purchasing an additional 7,431 shares during the last quarter. UBS Group AG boosted its holdings in AAR Corp. by 437.5% in the 1st quarter. UBS Group AG now owns 58,541 shares of the aerospace company’s stock valued at $1,969,000 after purchasing an additional 47,650 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in AAR Corp. by 29,054.7% in the 1st quarter. BlackRock Inc. now owns 4,657,468 shares of the aerospace company’s stock valued at $156,630,000 after purchasing an additional 4,641,493 shares during the last quarter. Hedge funds and other institutional investors own 87.68% of the company’s stock.
Several equities analysts have weighed in on the stock. Noble Financial reiterated a “buy” rating on shares of AAR Corp. in a report on Friday, August 11th. Canaccord Genuity reiterated a “hold” rating and issued a $40.00 target price on shares of AAR Corp. in a report on Friday, October 13th. Zacks Investment Research upgraded shares of AAR Corp. from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. BidaskClub downgraded shares of AAR Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Seaport Global Securities assumed coverage on shares of AAR Corp. in a research note on Tuesday, September 12th. They issued a “neutral” rating and a $39.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $46.20.
Shares of AAR Corp. (NYSE:AIR) opened at $40.58 on Wednesday. AAR Corp. has a 52 week low of $31.20 and a 52 week high of $41.94. The firm has a market cap of $1,399.08, a P/E ratio of 27.30 and a beta of 1.33. The company has a current ratio of 2.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.20.
AAR Corp. (NYSE:AIR) last announced its earnings results on Tuesday, September 19th. The aerospace company reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. AAR Corp. had a net margin of 3.20% and a return on equity of 5.66%. The firm had revenue of $439.20 million for the quarter, compared to the consensus estimate of $410.52 million. During the same period in the prior year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. analysts predict that AAR Corp. will post 1.81 earnings per share for the current year.
AAR Corp. announced that its Board of Directors has approved a share buyback plan on Tuesday, July 11th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the aerospace company to repurchase up to 20.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 3rd. Investors of record on Monday, October 23rd were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.74%. The ex-dividend date was Friday, October 20th. AAR Corp.’s payout ratio is currently 17.86%.
In other AAR Corp. news, Director Ronald R. Fogleman sold 3,000 shares of the stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $33.47, for a total value of $100,410.00. Following the sale, the director now directly owns 23,406 shares of the company’s stock, valued at approximately $783,398.82. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.33% of the stock is owned by corporate 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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