State of New Jersey Common Pension Fund D Buys 429 Shares of AAR Corp. (NYSE:AIR)

State of New Jersey Common Pension Fund D increased its stake in AAR Corp. (NYSE:AIR) by 1.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,168 shares of the aerospace company’s stock after buying an additional 429 shares during the period. State of New Jersey Common Pension Fund D’s holdings in AAR were worth $1,910,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AIR. Rhumbline Advisers boosted its position in shares of AAR by 0.4% in the fourth quarter. Rhumbline Advisers now owns 115,867 shares of the aerospace company’s stock worth $7,100,000 after purchasing an additional 455 shares during the period. Stanley Laman Group Ltd. grew its holdings in shares of AAR by 2.2% in the fourth quarter. Stanley Laman Group Ltd. now owns 77,371 shares of the aerospace company’s stock worth $4,741,000 after purchasing an additional 1,649 shares during the last quarter. Caprock Group LLC bought a new position in AAR in the fourth quarter worth approximately $208,000. Canal Insurance CO increased its position in AAR by 124.3% during the 4th quarter. Canal Insurance CO now owns 72,000 shares of the aerospace company’s stock valued at $4,412,000 after purchasing an additional 39,900 shares during the period. Finally, KBC Group NV increased its holdings in shares of AAR by 42.5% in the 4th quarter. KBC Group NV now owns 1,887 shares of the aerospace company’s stock valued at $116,000 after acquiring an additional 563 shares during the period. 90.74% of the stock is owned by institutional investors.

AAR Stock Up 0.6 %

Shares of NYSE:AIR opened at $62.23 on Tuesday. The company has a quick ratio of 1.27, a current ratio of 2.68 and a debt-to-equity ratio of 0.84. AAR Corp. has a fifty-two week low of $54.71 and a fifty-two week high of $76.34. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 222.26 and a beta of 1.61. The firm’s 50-day simple moving average is $65.70 and its 200-day simple moving average is $65.12.

AAR (NYSE:AIR) last released its earnings results on Tuesday, January 7th. The aerospace company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.83 by $0.07. AAR had a net margin of 0.41% and a return on equity of 10.46%. The firm had revenue of $686.10 million during the quarter, compared to analysts’ expectations of $654.47 million. During the same period in the previous year, the company earned $0.81 EPS. AAR’s revenue for the quarter was up 25.8% on a year-over-year basis. As a group, equities research analysts predict that AAR Corp. will post 3.77 earnings per share for the current year.

Insider Activity

In other news, CAO Jessica A. Garascia sold 1,500 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $66.90, for a total transaction of $100,350.00. Following the completion of the transaction, the chief accounting officer now owns 37,565 shares in the company, valued at approximately $2,513,098.50. This represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Mcclain Holmes III sold 5,000 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $70.81, for a total transaction of $354,050.00. Following the completion of the transaction, the chief executive officer now owns 341,680 shares of the company’s stock, valued at $24,194,360.80. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,793 shares of company stock worth $12,538,396 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AIR shares. KeyCorp started coverage on shares of AAR in a research note on Thursday, January 16th. They issued an “overweight” rating and a $83.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $75.00 price objective on shares of AAR in a research report on Monday, November 4th. Finally, StockNews.com lowered shares of AAR from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AAR presently has an average rating of “Moderate Buy” and a consensus target price of $81.50.

AAR Company Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Parts Supply segment leases and sells aircraft components and replacement parts. The Repair & Engineering segment provides airframe maintenance services, such as airframe inspection, painting, line maintenance, airframe modification, structural repair, avionics service and installation, exterior and interior refurbishment, and engineering and support services; component repair services comprising maintenance, repair, and overhaul (MRO) services, engine and airframe accessories, and interior refurbishment; and landing gear overhaul services, including repair services on wheels and brakes.