59 North Capital Management LP Decreases Stock Position in Aercap Holdings N.V. $AER

Key Points

• 59 North Capital Management cut its Aercap stake by 15.8% in the fourth quarter, selling 622,527 shares and leaving it with 3.31 million shares worth about $475.9 million. Aercap remains the fund’s largest holding, making up 14.8% of its portfolio.
• Aercap reported solid recent operating results, posting $5.39 in quarterly EPS on $2.30 billion in revenue, with a 16.01% return on equity and 45.22% net margin. Analysts expect the company to earn 17.23 EPS for the current fiscal year.
• The company is returning capital to shareholders through a new $1.0 billion share repurchase plan and a quarterly dividend of $0.40 per share, equal to a 1.1% annualized yield. Wall Street currently rates the stock a “Moderate Buy,” with an average price target of $163.13.

59 North Capital Management LP lessened its holdings in Aercap Holdings N.V. (NYSE:AER - Free Report) by 15.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,310,609 shares of the financial services provider's stock after selling 622,527 shares during the period. Aercap comprises 14.8% of 59 North Capital Management LP's holdings, making the stock its biggest holding. 59 North Capital Management LP owned approximately 1.77% of Aercap worth $475,933,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AER. Integrated Wealth Concepts LLC lifted its stake in shares of Aercap by 19.0% in the first quarter. Integrated Wealth Concepts LLC now owns 2,649 shares of the financial services provider's stock worth $271,000 after acquiring an additional 423 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Aercap by 282.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,659 shares of the financial services provider's stock valued at $680,000 after buying an additional 4,919 shares during the period. Geneos Wealth Management Inc. lifted its stake in Aercap by 26.6% in the first quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider's stock valued at $46,000 after buying an additional 94 shares during the period. Invesco Ltd. lifted its stake in Aercap by 43.3% in the second quarter. Invesco Ltd. now owns 459,459 shares of the financial services provider's stock valued at $53,757,000 after buying an additional 138,843 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in Aercap by 59.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the financial services provider's stock valued at $134,000 after buying an additional 425 shares during the period. 96.42% of the stock is currently owned by institutional investors.

Aercap Trading Up 0.8%

Shares of Aercap stock opened at $144.06 on Thursday. The company has a market capitalization of $24.04 billion, a P/E ratio of 6.31, a price-to-earnings-growth ratio of 1.00 and a beta of 0.93. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 2.34. The stock has a fifty day simple moving average of $141.31 and a 200 day simple moving average of $142.07. Aercap Holdings N.V. has a 12-month low of $105.65 and a 12-month high of $154.94.

Aercap (NYSE:AER - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $5.39 earnings per share (EPS) for the quarter. The firm had revenue of $2.30 billion during the quarter. Aercap had a return on equity of 16.01% and a net margin of 45.22%. On average, sell-side analysts anticipate that Aercap Holdings N.V. will post 17.23 earnings per share for the current fiscal year.

Aercap declared that its Board of Directors has approved a share repurchase plan on Wednesday, April 29th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its shares are undervalued.

Aercap Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Wednesday, May 13th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, May 13th. Aercap's dividend payout ratio is currently 7.01%.

Analyst Upgrades and Downgrades

AER has been the topic of several recent analyst reports. Morgan Stanley dropped their price target on Aercap from $160.00 to $155.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 30th. Zacks Research lowered Aercap from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 1st. JPMorgan Chase & Co. boosted their price target on Aercap from $150.00 to $155.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Truist Financial boosted their price target on Aercap from $159.00 to $161.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Finally, Susquehanna boosted their price target on Aercap from $165.00 to $170.00 and gave the company a "positive" rating in a research note on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Aercap currently has a consensus rating of "Moderate Buy" and an average price target of $163.13.

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.

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