Lord Abbett & CO. LLC Trims Stock Holdings in Aercap Holdings N.V. $AER

Key Points

• Lord Abbett & CO. LLC reduced its holdings in Aercap Holdings N.V. by 5.7% in the first quarter, now owning approximately 2.14 million shares valued at $218.80 million.
• Aercap recently reported earnings of $2.83 per share, surpassing the consensus estimate, while its revenue was down 3.6% year-over-year.
• Analysts have recently increased price targets for Aercap, with Barclays setting a new target of $131.00 and the consensus target price standing at $122.57.

Lord Abbett & CO. LLC reduced its stake in Aercap Holdings N.V. (NYSE:AER - Free Report) by 5.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,141,505 shares of the financial services provider's stock after selling 130,264 shares during the quarter. Aercap makes up 0.8% of Lord Abbett & CO. LLC's investment portfolio, making the stock its 26th largest holding. Lord Abbett & CO. LLC owned 1.15% of Aercap worth $218,798,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Signaturefd LLC boosted its stake in Aercap by 1.8% in the 1st quarter. Signaturefd LLC now owns 5,819 shares of the financial services provider's stock worth $595,000 after purchasing an additional 102 shares during the period. Allworth Financial LP boosted its stake in Aercap by 8.0% in the 1st quarter. Allworth Financial LP now owns 1,566 shares of the financial services provider's stock worth $160,000 after purchasing an additional 116 shares during the period. Covestor Ltd boosted its stake in Aercap by 9.6% in the 1st quarter. Covestor Ltd now owns 1,422 shares of the financial services provider's stock worth $145,000 after purchasing an additional 125 shares during the period. Measured Wealth Private Client Group LLC boosted its stake in Aercap by 3.1% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 5,080 shares of the financial services provider's stock worth $519,000 after purchasing an additional 154 shares during the period. Finally, Nissay Asset Management Corp Japan ADV boosted its stake in Aercap by 0.9% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 24,096 shares of the financial services provider's stock worth $2,301,000 after purchasing an additional 209 shares during the period. 96.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on AER shares. Barclays raised their target price on Aercap from $115.00 to $131.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Morgan Stanley raised their price target on Aercap from $111.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Susquehanna reaffirmed a "positive" rating and issued a $134.00 price target (up previously from $130.00) on shares of Aercap in a report on Wednesday, August 13th. Finally, JPMorgan Chase & Co. raised their price target on Aercap from $112.00 to $114.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $122.57.

Aercap Trading Up 1.3%

Aercap stock traded up $1.51 during trading hours on Monday, reaching $114.59. The company had a trading volume of 1,587,452 shares, compared to its average volume of 1,470,364. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.44 and a quick ratio of 0.44. The company has a 50-day moving average price of $113.58 and a 200 day moving average price of $106.73. The firm has a market cap of $21.40 billion, a price-to-earnings ratio of 7.13, a P/E/G ratio of 2.26 and a beta of 1.44. Aercap Holdings N.V. has a 12-month low of $85.57 and a 12-month high of $118.07.

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

Aercap Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Wednesday, August 13th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, August 13th. Aercap's dividend payout ratio (DPR) 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.