Empowered Funds LLC Acquires 57,840 Shares of Aercap Holdings N.V. $AER

Key Points

• Empowered Funds LLC increased its Aercap stake by 66.6% in the first quarter, buying 57,840 additional shares for a total of 144,721 shares valued at approximately $19.85 million. Institutional investors and hedge funds collectively own 96.42% of Aercap.
• Aercap shares rose 2.1% to $154.53, near the company’s 52-week high, while the aircraft lessor reported quarterly earnings of $5.39 per share on $2.30 billion in revenue.
• The board authorized a $1 billion share-repurchase program, covering up to 4.3% of outstanding shares. Analysts maintain a consensus “Buy” rating with an average price target of $168.67.

Empowered Funds LLC grew its holdings in Aercap Holdings N.V. (NYSE:AER - Free Report) by 66.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 144,721 shares of the financial services provider's stock after buying an additional 57,840 shares during the quarter. Empowered Funds LLC owned approximately 0.09% of Aercap worth $19,853,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AER. Harbor Capital Advisors Inc. bought a new stake in Aercap during the 4th quarter worth about $27,000. Greenline Wealth Management LLC bought a new position in shares of Aercap in the fourth quarter worth about $30,000. Advisory Services Network LLC acquired a new position in shares of Aercap during the third quarter worth approximately $35,000. Cedar Mountain Advisors LLC acquired a new position in shares of Aercap during the first quarter worth approximately $44,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of Aercap by 26.6% during the first quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 94 shares during the last quarter. Institutional investors and hedge funds own 96.42% of the company's stock.

Aercap Stock Up 2.1%

Shares of NYSE:AER opened at $154.53 on Wednesday. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.24 and a quick ratio of 0.24. The stock has a market cap of $25.79 billion, a price-to-earnings ratio of 6.77, a P/E/G ratio of 1.05 and a beta of 0.94. The company has a 50 day moving average of $144.39 and a 200-day moving average of $143.41. Aercap Holdings N.V. has a one year low of $105.65 and a one year high of $155.99.

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 for the quarter. Aercap had a net margin of 45.22% and a return on equity of 16.01%. The business had revenue of $2.30 billion for the quarter. On average, sell-side analysts forecast that Aercap Holdings N.V. will post 17.39 earnings per share for the current year.

Aercap announced that its Board of Directors has approved a share repurchase program on Wednesday, April 29th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AER shares. Barclays raised their price target on shares of Aercap from $164.00 to $179.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. Citigroup began coverage on Aercap in a research report on Monday, July 20th. They issued a "buy" rating and a $173.00 price objective on the stock. TD Cowen lifted their target price on Aercap from $175.00 to $180.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. Morgan Stanley dropped their target price on Aercap from $160.00 to $155.00 and set an "equal weight" rating for the company in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. upped 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. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $168.67.

About Aercap

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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