Lord Abbett & CO. LLC Sells 38,657 Shares of Aercap Holdings N.V. $AER

Key Points

• Lord Abbett & Co. LLC trimmed its Aercap stake by 2.1% in the fourth quarter, selling 38,657 shares and ending with 1,794,065 shares valued at about $257.9 million.
• Wall Street remains constructive on AER: eight analysts rate it Buy and two Hold, with a consensus price target of $163.13 and an average rating of Moderate Buy.
• Aercap reported solid recent results, including Q1 EPS of $5.39, and its board authorized a $1 billion share buyback plus a quarterly dividend of $0.40 per share.

Lord Abbett & CO. LLC lowered its position in Aercap Holdings N.V. (NYSE:AER - Free Report) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,794,065 shares of the financial services provider's stock after selling 38,657 shares during the quarter. Aercap accounts for about 0.8% of Lord Abbett & CO. LLC's holdings, making the stock its 28th largest position. Lord Abbett & CO. LLC owned 0.96% of Aercap worth $257,915,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of AER. Integrated Wealth Concepts LLC lifted its position in shares of Aercap by 19.0% in the 1st 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 position in shares of Aercap by 282.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,659 shares of the financial services provider's stock worth $680,000 after acquiring an additional 4,919 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Aercap by 26.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider's stock worth $46,000 after acquiring an additional 94 shares during the period. Invesco Ltd. lifted its position in shares of Aercap by 43.3% in the 2nd quarter. Invesco Ltd. now owns 459,459 shares of the financial services provider's stock worth $53,757,000 after acquiring an additional 138,843 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Aercap by 59.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the financial services provider's stock worth $134,000 after acquiring an additional 425 shares during the period. Institutional investors own 96.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AER. Weiss Ratings downgraded Aercap from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Tuesday, May 26th. Truist Financial raised their target price on Aercap from $159.00 to $161.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Susquehanna raised their target price on Aercap from $165.00 to $170.00 and gave the stock a "positive" rating in a research report on Thursday, April 30th. Zacks Research downgraded Aercap from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 1st. Finally, JPMorgan Chase & Co. raised their target price on Aercap from $150.00 to $155.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $163.13.

Aercap Price Performance

Aercap stock opened at $139.81 on Friday. 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 company has a market capitalization of $23.33 billion, a PE ratio of 6.13, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. Aercap Holdings N.V. has a one year low of $105.65 and a one year high of $154.94. The business has a 50 day simple moving average of $141.13 and a 200 day simple moving average of $141.78.

Aercap (NYSE:AER - Get Free Report) last posted its 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 business had revenue of $2.30 billion during the quarter. On average, sell-side analysts forecast that Aercap Holdings N.V. will post 17.23 EPS for the current fiscal year.

Aercap announced that its board has authorized a share buyback plan on Wednesday, April 29th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to repurchase 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 stock is undervalued.

Aercap Dividend Announcement

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

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.

Want to see what other hedge funds are holding AER? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aercap Holdings N.V. (NYSE:AER - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.