Harel Insurance Investments & Financial Services Ltd. acquired a new stake in AAR Corp. (NYSE:AIR) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 800 shares of the aerospace company’s stock, valued at approximately $26,000.
Several other institutional investors have also made changes to their positions in AIR. Wells Fargo & Company MN boosted its stake in shares of AAR by 13.9% in the 3rd quarter. Wells Fargo & Company MN now owns 64,937 shares of the aerospace company’s stock valued at $3,109,000 after purchasing an additional 7,949 shares in the last quarter. Bank of New York Mellon Corp boosted its position in AAR by 4.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 461,073 shares of the aerospace company’s stock valued at $22,079,000 after buying an additional 18,003 shares during the period. Hsbc Holdings PLC purchased a new stake in AAR during the 3rd quarter valued at $267,000. Renaissance Technologies LLC purchased a new stake in AAR during the 3rd quarter valued at $2,546,000. Finally, Jane Street Group LLC purchased a new stake in AAR during the 3rd quarter valued at $318,000. 90.91% of the stock is owned by institutional investors.
Shares of AIR opened at $32.93 on Friday. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 13.39 and a beta of 1.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.76 and a quick ratio of 1.33. AAR Corp. has a twelve month low of $31.51 and a twelve month high of $51.52.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Wednesday, May 1st will be issued a $0.075 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.30 annualized dividend and a yield of 0.91%. AAR’s dividend payout ratio (DPR) is presently 16.76%.
In other AAR news, Director Anthony Anderson sold 3,615 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $33.23, for a total value of $120,126.45. Following the completion of the transaction, the director now directly owns 19,469 shares in the company, valued at approximately $646,954.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.43% of the stock is currently owned by corporate insiders.
Several equities research analysts have weighed in on the stock. Canaccord Genuity reissued a “buy” rating and set a $48.00 price target on shares of AAR in a research report on Wednesday, March 20th. ValuEngine cut shares of AAR from a “hold” rating to a “sell” rating in a research report on Tuesday, February 19th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. AAR presently has a consensus rating of “Hold” and an average target price of $52.33.
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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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