Wedge Capital Management L L P NC Sells 49,800 Shares of AerCap Holdings (NYSE:AER)

Wedge Capital Management L L P NC lowered its position in shares of AerCap Holdings (NYSE:AER) by 12.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 344,837 shares of the financial services provider’s stock after selling 49,800 shares during the quarter. Wedge Capital Management L L P NC’s holdings in AerCap were worth $35,232,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of AerCap by 0.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,192 shares of the financial services provider’s stock worth $1,837,000 after buying an additional 115 shares in the last quarter. Signaturefd LLC grew its position in AerCap by 3.2% during the 4th quarter. Signaturefd LLC now owns 5,717 shares of the financial services provider’s stock worth $547,000 after acquiring an additional 177 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its holdings in AerCap by 3.8% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,322 shares of the financial services provider’s stock valued at $509,000 after purchasing an additional 194 shares in the last quarter. Inspire Advisors LLC increased its holdings in AerCap by 3.4% during the 4th quarter. Inspire Advisors LLC now owns 6,336 shares of the financial services provider’s stock valued at $606,000 after purchasing an additional 209 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV raised its position in AerCap by 0.9% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 24,096 shares of the financial services provider’s stock valued at $2,301,000 after purchasing an additional 209 shares during the last quarter. Institutional investors and hedge funds own 96.42% of the company’s stock.

AerCap Stock Performance

Shares of NYSE:AER opened at $116.80 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.89. AerCap Holdings has a 1-year low of $82.21 and a 1-year high of $117.41. The stock has a market capitalization of $21.82 billion, a P/E ratio of 9.26, a P/E/G ratio of 2.22 and a beta of 1.39. The business has a 50-day moving average price of $105.15 and a two-hundred day moving average price of $100.59.

AerCap (NYSE:AER) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.68 EPS for the quarter, topping the consensus estimate of $2.69 by $0.99. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.01 billion. AerCap had a net margin of 32.38% and a return on equity of 13.98%. AerCap’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.29 EPS. Equities analysts predict that AerCap Holdings will post 11.29 earnings per share for the current year.

AerCap declared that its board has authorized a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 4.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

AerCap Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Wednesday, May 14th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Wednesday, May 14th. AerCap’s dividend payout ratio is presently 9.58%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AER. JPMorgan Chase & Co. boosted their price objective on AerCap from $112.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Bank of America upped their price target on shares of AerCap from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Barclays reissued an “overweight” rating and set a $115.00 price objective (up previously from $113.00) on shares of AerCap in a report on Thursday, February 27th. UBS Group downgraded shares of AerCap to an “underperform” rating in a research note on Friday, March 7th. Finally, Morgan Stanley increased their price target on shares of AerCap from $101.00 to $111.00 and gave the company an “equal weight” rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, AerCap presently has a consensus rating of “Moderate Buy” and an average price target of $119.25.

AerCap Company Profile

AerCap Holdings N.V. engages in the lease, financing, sale, and management of commercial flight equipment in China, Hong Kong, Macau, the United States, Ireland, and internationally. The company offers aircraft asset management services, such as remarketing aircraft and engines; collecting rental and maintenance rent payments, monitoring aircraft maintenance, monitoring and enforcing contract compliance, and accepting delivery and redelivery of aircraft and engines; and conducting ongoing lessee financial performance reviews.