Vaughan Nelson Investment Management L.P. Boosts Stake in AAR Corp (AIR)
Vaughan Nelson Investment Management L.P. lifted its holdings in AAR Corp (NYSE:AIR) by 26.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 970,020 shares of the aerospace company’s stock after buying an additional 202,270 shares during the period. Vaughan Nelson Investment Management L.P. owned about 2.79% of AAR worth $42,788,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Federated Investors Inc. PA increased its holdings in shares of AAR by 144.1% in the 1st quarter. Federated Investors Inc. PA now owns 3,146 shares of the aerospace company’s stock worth $139,000 after buying an additional 1,857 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of AAR by 92.5% in the 1st quarter. SG Americas Securities LLC now owns 4,972 shares of the aerospace company’s stock worth $219,000 after buying an additional 2,389 shares during the last quarter. Investors Research Corp bought a new stake in shares of AAR in the 4th quarter worth about $342,000. US Bancorp DE increased its holdings in shares of AAR by 4,765.7% in the 1st quarter. US Bancorp DE now owns 8,807 shares of the aerospace company’s stock worth $388,000 after buying an additional 8,626 shares during the last quarter. Finally, Stone Ridge Asset Management LLC bought a new stake in shares of AAR in the 4th quarter worth about $403,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.
AIR has been the topic of a number of research reports. Zacks Investment Research upgraded shares of AAR from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Tuesday, February 20th. Noble Financial reaffirmed a “buy” rating on shares of AAR in a research note on Thursday, March 22nd. ValuEngine raised shares of AAR from a “hold” rating to a “buy” rating in a research note on Thursday, March 8th. TheStreet raised shares of AAR from a “c+” rating to a “b” rating in a research note on Tuesday, March 20th. Finally, Credit Suisse Group lifted their price target on shares of AAR to $51.00 and gave the stock an “outperform” rating in a research note on Thursday, March 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. AAR currently has a consensus rating of “Buy” and an average target price of $49.00.
AAR (NYSE:AIR) last released its quarterly earnings results on Tuesday, March 20th. The aerospace company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. AAR had a net margin of 1.34% and a return on equity of 6.02%. The firm had revenue of $456.30 million during the quarter, compared to analysts’ expectations of $475.89 million. During the same period in the previous year, the company earned $0.39 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. research analysts expect that AAR Corp will post 1.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 16th. Investors of record on Tuesday, May 1st were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, April 30th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.70%. AAR’s dividend payout ratio is presently 20.69%.
In other AAR news, CEO David P. Storch sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 28th. The shares were sold at an average price of $44.02, for a total value of $2,201,000.00. Following the completion of the sale, the chief executive officer now directly owns 667,259 shares of the company’s stock, valued at approximately $29,372,741.18. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Anthony Anderson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 27th. The shares were sold at an average price of $44.07, for a total transaction of $220,350.00. Following the completion of the sale, the director now directly owns 20,411 shares of the company’s stock, valued at $899,512.77. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,500 shares of company stock valued at $4,755,155. 9.33% of the stock is owned by corporate insiders.
AAR CORP. provides products and services to commercial aviation, government, and defense markets worldwide. The company's 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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