State Board of Administration of Florida Retirement System cut its position in AAR Corp. (NYSE:AIR) by 10.5% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 28,803 shares of the aerospace company’s stock after selling 3,370 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.09% of AAR Corp. worth $952,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in AIR. Emerald Acquisition Ltd. raised its stake in AAR Corp. by 53.8% in the third quarter. Emerald Acquisition Ltd. now owns 489,640 shares of the aerospace company’s stock valued at $15,336,000 after buying an additional 171,193 shares during the period. Russell Investments Group Ltd. purchased a new stake in AAR Corp. during the fourth quarter valued at approximately $9,971,000. Sei Investments Co. raised its stake in AAR Corp. by 6.4% in the third quarter. Sei Investments Co. now owns 78,528 shares of the aerospace company’s stock valued at $2,459,000 after buying an additional 4,712 shares during the period. Deprince Race & Zollo Inc. raised its stake in AAR Corp. by 36.3% in the third quarter. Deprince Race & Zollo Inc. now owns 1,366,194 shares of the aerospace company’s stock valued at $42,789,000 after buying an additional 364,032 shares during the period. Finally, First Trust Advisors LP raised its stake in AAR Corp. by 5.0% in the third quarter. First Trust Advisors LP now owns 76,186 shares of the aerospace company’s stock valued at $2,386,000 after buying an additional 3,609 shares during the period. 87.39% of the stock is owned by institutional investors.
AAR Corp. (NYSE:AIR) traded up 0.49% on Friday, reaching $34.66. The company had a trading volume of 192,552 shares. The stock has a 50 day moving average price of $33.79 and a 200 day moving average price of $33.86. The stock has a market capitalization of $1.17 billion, a PE ratio of 25.32 and a beta of 1.53. AAR Corp. has a 52-week low of $21.78 and a 52-week high of $38.75.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 12th. Investors of record on Monday, May 1st will be paid a $0.075 dividend. The ex-dividend date is Thursday, April 27th. This represents a $0.30 dividend on an annualized basis and a yield of 0.87%. AAR Corp.’s payout ratio is presently 26.79%.
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AIR has been the subject of a number of analyst reports. Noble Financial initiated coverage on AAR Corp. in a research report on Monday, April 3rd. They issued a “buy” rating and a $40.00 price target for the company. SunTrust Banks, Inc. initiated coverage on AAR Corp. in a research report on Thursday, January 19th. They issued a “buy” rating and a $38.00 price target for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. AAR Corp. presently has a consensus rating of “Buy” and an average price target of $48.75.
In related news, VP John Mcclain Holmes III sold 5,000 shares of the firm’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $34.10, for a total value of $170,500.00. Following the transaction, the vice president now directly owns 129,030 shares in the company, valued at approximately $4,399,923. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.
