Skye Global Management LP Buys New Stake in AerCap Holdings (NYSE:AER)

Skye Global Management LP acquired a new position in shares of AerCap Holdings (NYSE:AER) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 40,500 shares of the financial services provider’s stock, valued at approximately $3,876,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. 59 North Capital Management LP boosted its holdings in shares of AerCap by 17.0% in the fourth quarter. 59 North Capital Management LP now owns 3,704,914 shares of the financial services provider’s stock valued at $354,560,000 after acquiring an additional 538,703 shares during the period. Lyrical Asset Management LP raised its position in AerCap by 1.3% in the 4th quarter. Lyrical Asset Management LP now owns 3,097,840 shares of the financial services provider’s stock valued at $296,463,000 after purchasing an additional 38,264 shares during the last quarter. Cooke & Bieler LP boosted its stake in AerCap by 3.0% during the 4th quarter. Cooke & Bieler LP now owns 2,934,185 shares of the financial services provider’s stock worth $280,802,000 after purchasing an additional 86,548 shares during the period. Ninety One UK Ltd raised its holdings in shares of AerCap by 7.0% in the fourth quarter. Ninety One UK Ltd now owns 2,550,350 shares of the financial services provider’s stock valued at $244,068,000 after buying an additional 167,830 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of AerCap during the fourth quarter worth about $218,517,000. 96.42% of the stock is owned by hedge funds and other institutional investors.

AerCap Trading Up 0.9%

Shares of AER opened at $113.69 on Friday. The firm has a 50 day simple moving average of $101.24 and a 200-day simple moving average of $98.51. The stock has a market cap of $21.24 billion, a price-to-earnings ratio of 9.01, a price-to-earnings-growth ratio of 2.22 and a beta of 1.41. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.67 and a quick ratio of 0.67. AerCap Holdings has a 1-year low of $82.21 and a 1-year high of $116.21.

AerCap (NYSE:AER) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.99. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.01 billion. AerCap had a return on equity of 13.98% and a net margin of 32.38%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.29 earnings per share. Equities analysts forecast that AerCap Holdings will post 11.29 EPS for the current fiscal year.

AerCap Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Wednesday, May 14th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.08 dividend on an annualized basis and a yield of 0.95%. AerCap’s dividend payout ratio (DPR) is 9.58%.

AerCap declared that its board has authorized a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 4.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AER. JPMorgan Chase & Co. boosted their price target on AerCap from $112.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Barclays reiterated an “overweight” rating and issued a $115.00 target price (up from $113.00) on shares of AerCap in a research note on Thursday, February 27th. Susquehanna upped their price objective on shares of AerCap from $120.00 to $130.00 and gave the stock a “positive” rating in a research report on Tuesday. UBS Group cut AerCap to an “underperform” rating in a report on Friday, March 7th. Finally, Bank of America boosted their price objective on shares of AerCap from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, AerCap has a consensus rating of “Moderate Buy” and a consensus price target of $119.25.

AerCap 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.