Wedge Capital Management L L P NC Sells 49,800 Shares of AerCap Holdings (NYSE:AER)

Wedge Capital Management L L P NC cut its stake in shares of AerCap Holdings (NYSE:AER - Free Report) by 12.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 344,837 shares of the financial services provider's stock after selling 49,800 shares during the period. Wedge Capital Management L L P NC owned 0.18% of AerCap worth $35,232,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ameriflex Group Inc. purchased a new position in AerCap during the fourth quarter valued at approximately $27,000. Pinpoint Asset Management Ltd bought a new position in AerCap in the 4th quarter valued at $35,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of AerCap by 110.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,740 shares of the financial services provider's stock valued at $167,000 after purchasing an additional 914 shares in the last quarter. CoreCap Advisors LLC increased its holdings in shares of AerCap by 104.3% in the fourth quarter. CoreCap Advisors LLC now owns 1,949 shares of the financial services provider's stock worth $187,000 after purchasing an additional 995 shares during the period. Finally, Intrust Bank NA bought a new position in shares of AerCap in the fourth quarter worth $202,000. 96.42% of the stock is owned by hedge funds and other institutional investors.

AerCap Price Performance

Shares of NYSE AER traded up $0.94 during trading hours on Friday, reaching $116.80. 1,009,457 shares of the stock traded hands, compared to its average volume of 1,386,707. The company's 50-day simple moving average is $105.15 and its two-hundred day simple moving average is $100.59. The company has a market capitalization of $21.82 billion, a P/E ratio of 9.26, a price-to-earnings-growth ratio of 2.22 and a beta of 1.39. AerCap Holdings has a 52-week low of $82.21 and a 52-week high of $117.41. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.89.

AerCap (NYSE:AER - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.68 EPS for the quarter, beating analysts' consensus estimates of $2.69 by $0.99. The business had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.01 billion. AerCap had a net margin of 32.38% and a return on equity of 13.98%. The business's quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the business earned $3.29 earnings per share. Equities research analysts forecast that AerCap Holdings will post 11.29 EPS for the current year.

AerCap announced that its board has authorized a stock repurchase program on Wednesday, February 26th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

AerCap Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Wednesday, May 14th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Wednesday, May 14th. AerCap's dividend payout ratio is currently 9.58%.

Analysts Set New Price Targets

AER has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on AerCap from $112.00 to $114.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Barclays reaffirmed an "overweight" rating and issued a $115.00 price target (up previously from $113.00) on shares of AerCap in a report on Thursday, February 27th. UBS Group lowered AerCap to an "underperform" rating in a report on Friday, March 7th. Morgan Stanley upped their price objective on shares of AerCap from $101.00 to $111.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 1st. Finally, Susquehanna lifted their target price on shares of AerCap from $120.00 to $130.00 and gave the company a "positive" rating in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, AerCap presently has a consensus rating of "Moderate Buy" and an average price target of $119.25.

AerCap Company Profile

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.