AAR Corp. (AIR) Shares Bought by Laurion Capital Management LP
Laurion Capital Management LP boosted its stake in shares of AAR Corp. (NYSE:AIR) by 426.9% in the 1st quarter, Holdings Channel reports. The firm owned 31,791 shares of the aerospace company’s stock after buying an additional 25,757 shares during the quarter. Laurion Capital Management LP’s holdings in AAR were worth $1,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of AAR in the 1st quarter valued at $26,000. Advisor Group Inc. raised its stake in shares of AAR by 94.8% in the 4th quarter. Advisor Group Inc. now owns 744 shares of the aerospace company’s stock valued at $28,000 after buying an additional 362 shares in the last quarter. Pearl River Capital LLC acquired a new position in shares of AAR in the 1st quarter valued at $36,000. Oppenheimer Asset Management Inc. acquired a new position in shares of AAR in the 4th quarter valued at $50,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of AAR by 57.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,523 shares of the aerospace company’s stock valued at $94,000 after buying an additional 917 shares in the last quarter. Hedge funds and other institutional investors own 86.38% of the company’s stock.
A number of equities analysts have recently issued reports on AIR shares. ValuEngine cut shares of AAR from a “hold” rating to a “sell” rating in a research note on Tuesday, February 19th. Canaccord Genuity restated a “buy” rating and issued a $48.00 price objective on shares of AAR in a research note on Wednesday, March 20th. Finally, Zacks Investment Research upgraded shares of AAR from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $49.50.
AAR (NYSE:AIR) last announced its earnings results on Tuesday, March 19th. The aerospace company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.10. The business had revenue of $529.50 million during the quarter, compared to analysts’ expectations of $539.70 million. AAR had a negative net margin of 0.17% and a positive return on equity of 9.30%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the company posted $0.49 EPS. As a group, equities research analysts forecast that AAR Corp. will post 2.54 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Wednesday, May 1st were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Tuesday, April 30th. AAR’s dividend payout ratio (DPR) is currently 16.76%.
In related news, Director Anthony Anderson sold 3,615 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $33.23, for a total transaction of $120,126.45. Following the completion of the sale, the director now owns 19,469 shares in the company, valued at approximately $646,954.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.43% of the company’s stock.
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.
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