AAR Corp. (NYSE:AIR) announced a quarterly dividend on Thursday, October 11th, RTT News reports. Shareholders of record on Monday, October 22nd will be paid a dividend of 0.075 per share by the aerospace company on Friday, November 2nd. This represents a $0.30 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Friday, October 19th.
AAR has a payout ratio of 11.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect AAR to earn $3.13 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 9.6%.
Shares of AIR opened at $45.28 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.12 and a quick ratio of 1.63. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 25.30 and a beta of 1.21. AAR has a 52 week low of $36.46 and a 52 week high of $51.52.
In related news, Director David P. Storch sold 63,736 shares of the stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $47.20, for a total transaction of $3,008,339.20. Following the completion of the sale, the director now owns 705,281 shares in the company, valued at $33,289,263.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Storch sold 22,570 shares of the 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 sale, the director now owns 587,852 shares of the company’s stock, valued at approximately $25,894,880.60. The disclosure for this sale can be found here. Insiders have sold 154,348 shares of company stock valued at $7,205,259 in the last quarter. 7.43% of the stock is currently owned by company insiders.
A number of analysts have commented on the company. Seaport Global Securities restated a “buy” rating and issued a $52.00 price target on shares of AAR in a research report on Friday, July 13th. Canaccord Genuity restated a “buy” rating and issued a $52.00 price target (up previously from $48.00) on shares of AAR in a research report on Wednesday, July 11th. Zacks Investment Research upgraded AAR from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. Noble Financial restated a “buy” rating and issued a $57.00 price target on shares of AAR in a research report on Thursday, September 27th. Finally, ValuEngine upgraded AAR from a “hold” rating to a “buy” rating in a research report on Tuesday, September 18th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $53.17.
AAR Company Profile
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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