State Board of Administration of Florida Retirement System lowered its position in AAR Corp. (NYSE:AIR) by 14.0% during the second quarter, Holdings Channel reports. The fund owned 32,313 shares of the company’s stock after selling 5,260 shares during the period. State Board of Administration of Florida Retirement System owned 0.09% of AAR Corp. worth $754,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. TIAA CREF Investment Management LLC boosted its position in shares of AAR Corp. by 65.2% in the first quarter. TIAA CREF Investment Management LLC now owns 191,544 shares of the company’s stock worth $4,457,000 after buying an additional 75,574 shares during the last quarter. Springbok Capital Management LLC boosted its position in shares of AAR Corp. by 6,100.0% in the first quarter. Springbok Capital Management LLC now owns 6,200 shares of the company’s stock worth $144,000 after buying an additional 6,100 shares during the last quarter. Spark Investment Management LLC acquired a new position in shares of AAR Corp. during the first quarter worth about $544,000. Renaissance Technologies LLC boosted its position in shares of AAR Corp. by 3.6% in the first quarter. Renaissance Technologies LLC now owns 44,400 shares of the company’s stock worth $1,033,000 after buying an additional 1,540 shares during the last quarter. Finally, Kennedy Capital Management Inc. acquired a new position in shares of AAR Corp. during the first quarter worth about $582,000. Institutional investors own 87.85% of the company’s stock.
Shares of AAR Corp. (NYSE:AIR) traded up 4.83% during midday trading on Friday, hitting $31.45. 495,968 shares of the stock were exchanged. AAR Corp. has a one year low of $18.36 and a one year high of $31.67. The stock’s 50-day moving average price is $26.56 and its 200 day moving average price is $24.33. The stock has a market cap of $1.07 billion, a P/E ratio of 31.83 and a beta of 1.90.
AAR Corp. (NYSE:AIR) last released its quarterly earnings results on Thursday, September 22nd. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. The business earned $404.80 million during the quarter. AAR Corp. had a net margin of 2.03% and a return on equity of 4.70%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 EPS. On average, analysts anticipate that AAR Corp. will post $1.44 earnings per share for the current year.
AIR has been the subject of a number of research reports. TheStreet upgraded shares of AAR Corp. from a “hold” rating to a “buy” rating in a research report on Friday, September 2nd. Zacks Investment Research upgraded shares of AAR Corp. from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 13th. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of AAR Corp. in a report on Friday, June 10th.
In related news, Director Peter Pace sold 5,000 shares of the stock in a transaction dated Monday, September 26th. The shares were sold at an average price of €29.13 ($32.37), for a total value of €145,650.00 ($161,833.33). Following the completion of the transaction, the director now owns 20,048 shares in the company, valued at approximately €583,998.24 ($648,886.93). The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.23% of the stock is currently 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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