Aercap Holdings N.V. $AER is 59 North Capital Management LP’s Largest Position

59 North Capital Management LP reduced its position in shares of Aercap Holdings N.V. (NYSE:AER) by 15.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,310,609 shares of the financial services provider’s stock after selling 622,527 shares during the period. Aercap makes up 14.8% of 59 North Capital Management LP’s portfolio, making the stock its biggest holding. 59 North Capital Management LP’s holdings in Aercap were worth $475,933,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AER. State Street Corp increased its position in shares of Aercap by 3.7% during the 4th quarter. State Street Corp now owns 5,112,626 shares of the financial services provider’s stock valued at $735,003,000 after purchasing an additional 184,425 shares during the last quarter. Mizuho Markets Cayman LP increased its position in shares of Aercap by 45,615.5% during the 3rd quarter. Mizuho Markets Cayman LP now owns 3,510,491 shares of the financial services provider’s stock valued at $424,769,000 after purchasing an additional 3,502,812 shares during the last quarter. Mawer Investment Management Ltd. increased its position in shares of Aercap by 56.3% during the 4th quarter. Mawer Investment Management Ltd. now owns 3,272,935 shares of the financial services provider’s stock valued at $470,517,000 after purchasing an additional 1,179,241 shares during the last quarter. Ninety One UK Ltd increased its position in shares of Aercap by 1.1% during the 4th quarter. Ninety One UK Ltd now owns 2,804,003 shares of the financial services provider’s stock valued at $403,103,000 after purchasing an additional 31,794 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Aercap by 2.7% during the 4th quarter. JPMorgan Chase & Co. now owns 2,738,772 shares of the financial services provider’s stock valued at $393,726,000 after purchasing an additional 71,923 shares during the last quarter. 96.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AER shares. Barclays increased their price objective on Aercap from $162.00 to $164.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Susquehanna increased their price objective on Aercap from $165.00 to $170.00 and gave the company a “positive” rating in a research report on Thursday, April 30th. Morgan Stanley reduced their price objective on Aercap from $160.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. Weiss Ratings lowered Aercap from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, May 26th. Finally, Truist Financial raised their price target on Aercap from $159.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Aercap has an average rating of “Moderate Buy” and a consensus price target of $163.13.

Aercap Price Performance

AER opened at $144.06 on Thursday. The stock’s 50 day simple moving average is $141.31 and its 200 day simple moving average is $142.07. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.24 and a quick ratio of 0.24. Aercap Holdings N.V. has a 1 year low of $105.65 and a 1 year high of $154.94. The firm has a market cap of $24.04 billion, a price-to-earnings ratio of 6.31, a PEG ratio of 1.00 and a beta of 0.93.

Aercap (NYSE:AER) last posted its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $5.39 earnings per share (EPS) for the quarter. Aercap had a return on equity of 16.01% and a net margin of 45.22%.The business had revenue of $2.30 billion for the quarter. As a group, analysts predict that Aercap Holdings N.V. will post 17.23 earnings per share for the current year.

Aercap Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Wednesday, May 13th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 13th. Aercap’s dividend payout ratio (DPR) is currently 7.01%.

Aercap announced that its Board of Directors has authorized a share 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 repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Aercap 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.