Plato Investment Management Ltd purchased a new stake in Aercap Holdings N.V. (NYSE:AER – Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 12,115 shares of the financial services provider’s stock, valued at approximately $1,756,000.
Other hedge funds also recently added to or reduced their stakes in the company. Groupe la Francaise increased its position in Aercap by 221.4% in the first quarter. Groupe la Francaise now owns 180 shares of the financial services provider’s stock worth $25,000 after buying an additional 124 shares during the period. Greenline Wealth Management LLC acquired a new position in shares of Aercap during the fourth quarter valued at $30,000. Advisory Services Network LLC acquired a new position in shares of Aercap during the third quarter valued at $35,000. Cedar Mountain Advisors LLC bought a new position in shares of Aercap during the first quarter worth about $44,000. Finally, Geneos Wealth Management Inc. grew its position in shares of Aercap by 26.6% during the first quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 94 shares during the last quarter. 96.42% of the stock is owned by hedge funds and other institutional investors.
Aercap Stock Down 1.4%
AER opened at $150.39 on Tuesday. Aercap Holdings N.V. has a one year low of $112.93 and a one year high of $158.80. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.28 and a current ratio of 0.28. The stock’s fifty day moving average is $148.29 and its 200-day moving average is $144.21. The company has a market capitalization of $25.10 billion, a PE ratio of 7.40, a P/E/G ratio of 0.61 and a beta of 0.93.
Aercap declared that its Board of Directors has initiated a stock buyback program on Wednesday, April 29th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Aercap Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Wednesday, August 12th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. Aercap’s dividend payout ratio is presently 7.87%.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on AER. Zacks Research raised Aercap from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Citigroup upped their price objective on shares of Aercap from $173.00 to $178.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. increased their target price on shares of Aercap from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Susquehanna raised their target price on shares of Aercap from $170.00 to $176.00 and gave the company a “positive” rating in a research note on Tuesday, July 7th. Finally, TD Cowen boosted their price target on shares of Aercap from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $172.56.
Read Our Latest Research Report on AER
Aercap Company Profile
AerCap Holdings N.V. (NYSE: AER) is a global aircraft leasing and aviation finance company that acquires, leases, sells and manages commercial aircraft and engines. Its core services include operating leases, finance leases, sale-and-leaseback transactions, aircraft trading and remarketing, and asset management for airline customers. The company also provides related commercial and technical support services designed to optimize fleet utilization and residual values over the life cycle of aircraft and engines.
Operating with a broad global footprint, AerCap serves airlines and other aviation customers across North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.
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