Connor Clark & Lunn Investment Management Ltd. Buys 54,915 Shares of Aercap Holdings N.V. (NYSE:AER)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Aercap Holdings N.V. by 12.1%, owning a total of 510,386 shares valued at $52.1 million after acquiring an additional 54,915 shares.
• Aercap recently reported earnings of $2.83 EPS for the quarter, exceeding estimates, although revenue dropped by 3.6% year-over-year, totaling $1.89 billion.
• The company declared a quarterly dividend of $0.27, representing a dividend yield of 1.0%, with the ex-dividend date set for August 13th.

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Aercap Holdings N.V. (NYSE:AER - Free Report) by 12.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 510,386 shares of the financial services provider's stock after purchasing an additional 54,915 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.27% of Aercap worth $52,146,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AER. Alyeska Investment Group L.P. raised its stake in shares of Aercap by 139.1% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,505,799 shares of the financial services provider's stock valued at $144,105,000 after purchasing an additional 875,950 shares during the period. TOMS Capital Investment Management LP raised its stake in shares of Aercap by 118.8% during the fourth quarter. TOMS Capital Investment Management LP now owns 1,398,000 shares of the financial services provider's stock valued at $133,789,000 after purchasing an additional 759,000 shares during the period. Millennium Management LLC grew its position in shares of Aercap by 190.7% during the fourth quarter. Millennium Management LLC now owns 1,074,931 shares of the financial services provider's stock worth $102,871,000 after buying an additional 705,212 shares in the last quarter. Northern Trust Corp grew its position in shares of Aercap by 90.9% during the fourth quarter. Northern Trust Corp now owns 1,396,937 shares of the financial services provider's stock worth $133,687,000 after buying an additional 664,990 shares in the last quarter. Finally, 59 North Capital Management LP grew 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 buying an additional 538,703 shares in the last quarter. Hedge funds and other institutional investors own 96.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AER. Barclays lifted their price target on Aercap from $115.00 to $131.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. lifted their price target on Aercap from $112.00 to $114.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Morgan Stanley lifted their price target on Aercap from $111.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Finally, Susquehanna lifted their price target on Aercap from $120.00 to $130.00 and gave the stock a "positive" rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $122.00.

Aercap Stock Up 3.0%

Shares of AER traded up $3.36 during trading hours on Tuesday, reaching $113.73. The company's stock had a trading volume of 1,181,869 shares, compared to its average volume of 1,474,878. The firm has a market cap of $21.24 billion, a price-to-earnings ratio of 7.07, a P/E/G ratio of 2.21 and a beta of 1.44. Aercap Holdings N.V. has a 1-year low of $85.57 and a 1-year high of $118.07. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 2.57. The company has a 50 day moving average of $113.77 and a two-hundred day moving average of $106.23.

Aercap (NYSE:AER - Get Free Report) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $2.83 earnings per share for the quarter, beating analysts' consensus estimates of $2.75 by $0.08. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $2.03 billion. Aercap had a return on equity of 13.13% and a net margin of 36.93%. The firm's quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.01 EPS. As a group, research analysts predict that Aercap Holdings N.V. will post 11.29 EPS for the current fiscal year.

Aercap Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Wednesday, August 13th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, August 13th. Aercap's payout ratio is currently 6.72%.

About Aercap

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.