Essex Savings Bank Cuts Stake in Aercap Holdings N.V. (NYSE:AER)

Essex Savings Bank lessened its stake in shares of Aercap Holdings N.V. (NYSE:AER) by 10.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,985 shares of the financial services provider’s stock after selling 350 shares during the quarter. Essex Savings Bank’s holdings in Aercap were worth $305,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ameriflex Group Inc. purchased a new stake in shares of Aercap during the 4th quarter valued at about $27,000. Pinpoint Asset Management Ltd purchased a new stake in shares of Aercap during the 4th quarter valued at about $35,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Aercap by 110.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,740 shares of the financial services provider’s stock valued at $167,000 after acquiring an additional 914 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in shares of Aercap by 104.3% during the 4th quarter. CoreCap Advisors LLC now owns 1,949 shares of the financial services provider’s stock valued at $187,000 after acquiring an additional 995 shares during the last quarter. Finally, OLD National Bancorp IN purchased a new stake in shares of Aercap during the 1st quarter valued at about $206,000. Hedge funds and other institutional investors own 96.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Bank of America raised their price target on shares of Aercap from $105.00 to $125.00 and gave the company a “buy” rating in a report on Friday, March 7th. Barclays reaffirmed an “overweight” rating and set a $115.00 price target (up previously from $113.00) on shares of Aercap in a report on Thursday, February 27th. Susquehanna raised their price objective on shares of Aercap from $120.00 to $130.00 and gave the stock a “positive” rating in a report on Tuesday, May 13th. Morgan Stanley raised their price objective on shares of Aercap from $101.00 to $111.00 and gave the stock an “equal weight” rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Aercap from $112.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $119.25.

Aercap Stock Performance

AER opened at $114.79 on Thursday. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 2.69. The company has a market cap of $21.44 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 2.34 and a beta of 1.39. The company’s 50 day moving average is $108.67 and its 200 day moving average is $101.50. Aercap Holdings N.V. has a 12-month low of $82.21 and a 12-month high of $118.07.

Aercap (NYSE:AER) last released its earnings results on Wednesday, April 30th. The financial services provider reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.99. Aercap had a net margin of 26.53% and a return on equity of 13.84%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the business earned $3.29 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts predict that Aercap Holdings N.V. will post 11.29 EPS for the current year.

Aercap announced that its board has approved a share repurchase program on Wednesday, February 26th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Aercap Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Wednesday, May 14th. Aercap’s payout ratio is 9.58%.

Aercap 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.