Municipal Employees Retirement System of Michigan purchased a new stake in shares of AAR Corp. (NYSE:AIR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,340 shares of the aerospace company’s stock, valued at approximately $349,000.

Other hedge funds have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund acquired a new position in shares of AAR during the 4th quarter valued at $463,000. State of Alaska Department of Revenue increased its position in shares of AAR by 2.7% during the 4th quarter. State of Alaska Department of Revenue now owns 10,897 shares of the aerospace company’s stock valued at $406,000 after purchasing an additional 290 shares during the period. Gamco Investors INC. ET AL increased its position in shares of AAR by 103.7% during the 4th quarter. Gamco Investors INC. ET AL now owns 161,300 shares of the aerospace company’s stock valued at $6,023,000 after purchasing an additional 82,100 shares during the period. Renaissance Technologies LLC acquired a new position in shares of AAR during the 3rd quarter valued at $2,546,000. Finally, Advisors Asset Management Inc. increased its position in shares of AAR by 10.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 71,797 shares of the aerospace company’s stock valued at $3,438,000 after purchasing an additional 7,043 shares during the period. Institutional investors own 90.82% of the company’s stock.

Shares of NYSE AIR opened at $33.65 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.33 and a current ratio of 2.76. The firm has a market capitalization of $1.16 billion, a P/E ratio of 18.80 and a beta of 1.00. AAR Corp. has a 52-week low of $31.51 and a 52-week high of $51.52.

AAR (NYSE:AIR) last issued its earnings results on Tuesday, March 19th. The aerospace company reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.10. The business had revenue of $529.50 million for the quarter, compared to analysts’ expectations of $539.70 million. AAR had a positive return on equity of 9.30% and a negative net margin of 0.17%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 EPS. As a group, research analysts expect that AAR Corp. will post 2.54 EPS for the current fiscal year.

Several equities analysts have recently issued reports on the company. Canaccord Genuity reiterated a “buy” rating and set a $48.00 price target on shares of AAR in a research report on Wednesday, March 20th. ValuEngine cut AAR from a “hold” rating to a “sell” rating in a research report on Tuesday, February 19th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $52.33.

In related news, Director Anthony Anderson sold 3,615 shares of AAR stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $33.23, for a total value of $120,126.45. Following the transaction, the director now directly owns 19,469 shares in the company, valued at approximately $646,954.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.43% of the company’s stock.

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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.

Further Reading: How to interpret a stock’s beta number

Institutional Ownership by Quarter for AAR (NYSE:AIR)

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