IndexIQ Advisors LLC cut its stake in AAR Corp. (NYSE:AIR) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,644 shares of the aerospace company’s stock after selling 3,892 shares during the period. IndexIQ Advisors LLC owned 0.14% of AAR worth $1,779,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. acquired a new stake in AAR in the fourth quarter valued at $50,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in AAR by 57.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,523 shares of the aerospace company’s stock valued at $94,000 after acquiring an additional 917 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in shares of AAR during the fourth quarter worth $139,000. CIBC Asset Management Inc acquired a new stake in shares of AAR during the third quarter worth $204,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of AAR during the third quarter worth $267,000. 91.12% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on AIR. ValuEngine cut shares of AAR from a “buy” rating to a “hold” rating in a report on Wednesday, November 21st. Zacks Investment Research cut shares of AAR from a “hold” rating to a “sell” rating in a report on Tuesday, November 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. AAR presently has a consensus rating of “Hold” and an average price target of $53.17.
Shares of NYSE:AIR opened at $36.82 on Monday. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 20.57 and a beta of 1.07. AAR Corp. has a 1-year low of $33.94 and a 1-year high of $51.52. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.59 and a current ratio of 3.02.
AAR (NYSE:AIR) last issued its earnings results on Tuesday, December 18th. The aerospace company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. The company had revenue of $493.30 million for the quarter, compared to analysts’ expectations of $502.10 million. AAR had a net margin of 2.63% and a return on equity of 8.15%. As a group, equities research analysts anticipate that AAR Corp. will post 2.5 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 8th. Shareholders of record on Monday, January 28th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, January 25th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.81%. AAR’s dividend payout ratio (DPR) is 16.76%.
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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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