Aercap Holdings N.V. $AER Stake Boosted by California Public Employees Retirement System

Key Points

• CalPERS increased its AerCap stake by 2.8% in the first quarter, adding 8,715 shares and bringing its total to 320,947 shares worth about $44.0 million.
• Institutional ownership remains very high in AerCap, with hedge funds and other institutions holding about 96.4% of the stock; several large firms also recently boosted or initiated positions.
• AerCap continues to show solid operating and shareholder-return activity, reporting $5.39 EPS and $2.30 billion in quarterly revenue, while also approving a $1 billion share buyback and paying a $0.40 quarterly dividend.

California Public Employees Retirement System lifted its stake in Aercap Holdings N.V. (NYSE:AER - Free Report) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 320,947 shares of the financial services provider's stock after acquiring an additional 8,715 shares during the quarter. California Public Employees Retirement System owned approximately 0.19% of Aercap worth $44,028,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in Aercap in the fourth quarter valued at about $352,172,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Aercap in the 4th quarter worth about $282,665,000. L1 Capital International Pty Ltd raised its stake in shares of Aercap by 344.2% during the 4th quarter. L1 Capital International Pty Ltd now owns 1,527,454 shares of the financial services provider's stock worth $219,587,000 after purchasing an additional 1,183,616 shares in the last quarter. Mawer Investment Management Ltd. raised its stake 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 worth $470,517,000 after purchasing an additional 1,179,241 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of Aercap by 642.7% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,111,552 shares of the financial services provider's stock valued at $134,498,000 after buying an additional 961,890 shares during the last quarter. 96.42% of the stock is currently owned by hedge funds and other institutional investors.

Aercap Price Performance

Shares of NYSE:AER opened at $148.47 on Tuesday. The company has a market cap of $24.78 billion, a price-to-earnings ratio of 6.51, a PEG ratio of 1.02 and a beta of 0.94. The business has a 50 day moving average price of $143.13 and a 200 day moving average price of $143.17. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 2.34. Aercap Holdings N.V. has a twelve month low of $105.65 and a twelve month high of $155.99.

Aercap (NYSE:AER - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $5.39 EPS for the quarter. Aercap had a return on equity of 16.01% and a net margin of 45.22%.The company had revenue of $2.30 billion for the quarter. Research analysts predict that Aercap Holdings N.V. will post 17.39 earnings per share for the current year.

Aercap declared that its board has approved a stock buyback plan on Wednesday, April 29th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board of directors believes its shares are undervalued.

Aercap Announces Dividend

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

Analyst Upgrades and Downgrades

AER has been the subject of several recent research reports. Citigroup assumed coverage on Aercap in a research note on Monday. They issued a "buy" rating and a $173.00 price target for the company. TD Cowen raised their price objective on shares of Aercap from $175.00 to $180.00 and gave the company a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Aercap from $150.00 to $155.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Susquehanna boosted their target price on shares of Aercap from $170.00 to $176.00 and gave the stock a "positive" rating in a research report on Tuesday, July 7th. Finally, Morgan Stanley dropped their price target on shares of Aercap from $160.00 to $155.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $168.67.

Aercap Company 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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