Corebridge Financial Inc. reduced its position in shares of AerCap Holdings (NYSE:AER – Free Report) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,811 shares of the financial services provider’s stock after selling 984 shares during the period. Corebridge Financial Inc.’s holdings in AerCap were worth $3,140,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in AerCap by 0.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,192 shares of the financial services provider’s stock valued at $1,837,000 after purchasing an additional 115 shares during the last quarter. Signaturefd LLC lifted its stake in AerCap by 3.2% in the 4th quarter. Signaturefd LLC now owns 5,717 shares of the financial services provider’s stock worth $547,000 after purchasing an additional 177 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of 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 worth $509,000 after purchasing an additional 194 shares during the last quarter. Inspire Advisors LLC grew its position in shares of AerCap by 3.4% in the fourth 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, Williamson Legacy Group LLC increased its holdings in shares of AerCap by 2.5% in the fourth quarter. Williamson Legacy Group LLC now owns 10,674 shares of the financial services provider’s stock valued at $1,022,000 after purchasing an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 96.42% of the company’s stock.
AerCap Stock Performance
NYSE:AER opened at $102.14 on Tuesday. The stock has a market capitalization of $19.08 billion, a P/E ratio of 8.09, a PEG ratio of 2.22 and a beta of 1.83. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.67 and a current ratio of 0.67. AerCap Holdings has a fifty-two week low of $81.93 and a fifty-two week high of $107.36. The company has a 50 day moving average price of $99.73 and a 200 day moving average price of $97.21.
AerCap (NYSE:AER – Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The financial services provider reported $3.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.75. AerCap had a return on equity of 13.98% and a net margin of 32.38%. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Equities research analysts forecast that AerCap Holdings will post 11.29 EPS for the current year.
AerCap announced that its board has initiated a share buyback program on Wednesday, February 26th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 4.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
AerCap Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 12th will be paid a $0.27 dividend. This is a positive change from AerCap’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.08 annualized dividend and a dividend yield of 1.06%. AerCap’s dividend payout ratio (DPR) is presently 9.99%.
Analyst Ratings Changes
A number of research firms have weighed in on AER. Barclays reissued an “overweight” rating and set a $115.00 price objective (up previously from $113.00) on shares of AerCap in a research note on Thursday, February 27th. UBS Group lowered shares of AerCap to an “underperform” rating in a report on Friday, March 7th. Susquehanna lifted their target price on shares of AerCap from $108.00 to $120.00 and gave the stock a “positive” rating in a research note on Thursday, February 27th. Finally, Bank of America increased their price target on shares of AerCap from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $117.43.
Check Out Our Latest Stock Analysis on AER
AerCap Company Profile
(Free Report)
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.
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