Quantbot Technologies LP Invests $562,000 in AAR Corp. (AIR) Stock

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Quantbot Technologies LP purchased a new stake in AAR Corp. (NYSE:AIR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,739 shares of the aerospace company’s stock, valued at approximately $562,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Millennium Management LLC purchased a new position in AAR during the 1st quarter worth $840,000. Principal Financial Group Inc. lifted its position in AAR by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 247,559 shares of the aerospace company’s stock worth $10,920,000 after acquiring an additional 6,618 shares during the period. Aperio Group LLC lifted its position in AAR by 11.5% during the 2nd quarter. Aperio Group LLC now owns 18,397 shares of the aerospace company’s stock worth $855,000 after acquiring an additional 1,897 shares during the period. IndexIQ Advisors LLC lifted its position in AAR by 10.1% during the 2nd quarter. IndexIQ Advisors LLC now owns 49,590 shares of the aerospace company’s stock worth $2,305,000 after acquiring an additional 4,546 shares during the period. Finally, State of Wisconsin Investment Board acquired a new stake in AAR during the 2nd quarter worth about $2,162,000. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

AIR has been the subject of a number of research reports. SunTrust Banks cut AAR from a “buy” rating to a “hold” rating and lowered their price target for the stock from $50.00 to $47.00 in a research report on Tuesday, September 11th. Canaccord Genuity lifted their price target on AAR from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Zacks Investment Research cut AAR from a “hold” rating to a “sell” rating in a research report on Tuesday, November 27th. ValuEngine cut AAR from a “buy” rating to a “hold” rating in a research report on Wednesday, November 21st. Finally, Noble Financial reaffirmed a “buy” rating and set a $57.00 price target on shares of AAR in a research report on Thursday, September 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $53.17.

Shares of AIR opened at $40.92 on Friday. AAR Corp. has a one year low of $36.46 and a one year high of $51.52. The company has a quick ratio of 1.63, a current ratio of 3.12 and a debt-to-equity ratio of 0.23. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 22.86 and a beta of 1.04.

AAR (NYSE:AIR) last issued its quarterly earnings results on Tuesday, September 25th. The aerospace company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.02. The company had revenue of $466.30 million during the quarter, compared to analysts’ expectations of $452.72 million. AAR had a return on equity of 7.27% and a net margin of 1.08%. The firm’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 EPS. As a group, equities research analysts expect that AAR Corp. will post 2.69 earnings per share for the current year.

In other news, Director David P. Storch sold 22,570 shares of the business’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $44.05, for a total value of $994,208.50. Following the completion of the transaction, the director now owns 587,852 shares of the company’s stock, valued at approximately $25,894,880.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David P. Storch sold 18,800 shares of the business’s stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $46.98, for a total value of $883,224.00. Following the completion of the transaction, the director now directly owns 619,222 shares of the company’s stock, valued at approximately $29,091,049.56. The disclosure for this sale can be found here. In the last three months, insiders sold 51,609 shares of company stock valued at $2,354,979. Insiders own 7.43% of the company’s stock.

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About AAR

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.

Further Reading: Closed-End Mutual Funds (CEFs)

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Institutional Ownership by Quarter for AAR (NYSE:AIR)

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