OLD National Bancorp IN Invests $206,000 in AerCap Holdings (NYSE:AER)

OLD National Bancorp IN purchased a new position in shares of AerCap Holdings (NYSE:AER) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,019 shares of the financial services provider’s stock, valued at approximately $206,000.

A number of other large investors have also made changes to their positions in the business. 59 North Capital Management LP increased its position in shares of AerCap by 17.0% during the fourth quarter. 59 North Capital Management LP now owns 3,704,914 shares of the financial services provider’s stock worth $354,560,000 after purchasing an additional 538,703 shares in the last quarter. Lyrical Asset Management LP grew its holdings in shares of AerCap by 1.3% during the fourth quarter. Lyrical Asset Management LP now owns 3,097,840 shares of the financial services provider’s stock valued at $296,463,000 after buying an additional 38,264 shares during the last quarter. Cooke & Bieler LP grew its holdings in shares of AerCap by 3.0% during the fourth quarter. Cooke & Bieler LP now owns 2,934,185 shares of the financial services provider’s stock valued at $280,802,000 after buying an additional 86,548 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of AerCap by 22.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,608,099 shares of the financial services provider’s stock valued at $249,595,000 after buying an additional 485,999 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of AerCap during the fourth quarter valued at $218,517,000. 96.42% of the stock is owned by institutional investors and hedge funds.

AerCap Price Performance

NYSE:AER opened at $115.28 on Wednesday. AerCap Holdings has a one year low of $82.21 and a one year high of $117.87. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $21.53 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 2.22 and a beta of 1.39. The firm’s fifty day moving average is $105.72 and its two-hundred day moving average is $100.83.

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

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

AerCap Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Wednesday, May 14th were paid a $0.27 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $1.08 annualized dividend and a dividend yield of 0.94%. AerCap’s dividend payout ratio is presently 9.58%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of AerCap from $112.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Bank of America boosted their price objective 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 issued a $115.00 price target (up from $113.00) on shares of AerCap in a report on Thursday, February 27th. Morgan Stanley upped their price target on shares of AerCap from $101.00 to $111.00 and gave the company an “equal weight” rating in a report on Thursday, May 1st. Finally, Susquehanna upped their price target on shares of AerCap from $120.00 to $130.00 and gave the company a “positive” rating in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.