Swiss National Bank cut its stake in AerCap Holdings (NYSE:AER) by 3.9% during the fourth quarter, Holdings Channel reports. The fund owned 624,333 shares of the financial services provider’s stock after selling 25,600 shares during the quarter. Swiss National Bank’s holdings in AerCap were worth $32,846,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of AER. Cerebellum GP LLC acquired a new position in shares of AerCap in the fourth quarter worth $127,000. Dorsey & Whitney Trust CO LLC acquired a new position in shares of AerCap in the third quarter worth $208,000. Magnetar Financial LLC acquired a new position in shares of AerCap in the third quarter worth $211,000. Caxton Associates LP acquired a new position in shares of AerCap in the third quarter worth $225,000. Finally, KCS Wealth Advisory acquired a new position in shares of AerCap in the fourth quarter worth $238,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on AER. Zacks Investment Research raised shares of AerCap from a “sell” rating to a “hold” rating in a research note on Monday, November 6th. Wells Fargo & Co set a $62.00 price target on shares of AerCap and gave the stock a “buy” rating in a research note on Friday, December 15th. Royal Bank of Canada reaffirmed a “buy” rating on shares of AerCap in a research note on Thursday. Citigroup began coverage on shares of AerCap in a research note on Friday, December 8th. They issued a “neutral” rating and a $57.00 price target on the stock. Finally, UBS Group upped their price target on shares of AerCap from $44.00 to $54.00 and gave the stock a “neutral” rating in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. AerCap has a consensus rating of “Buy” and a consensus target price of $58.27.
AerCap (NYSE:AER) last issued its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.29. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.23 billion. AerCap had a net margin of 21.36% and a return on equity of 12.33%. AerCap’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.01 earnings per share. analysts anticipate that AerCap Holdings will post 6.28 EPS for the current fiscal year.
AerCap announced that its Board of Directors has initiated a share buyback program on Thursday, November 2nd that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
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AerCap Holdings N.V. is an independent aircraft leasing company. The Company focuses on acquiring in-demand aircraft, funding them, hedging interest rate risk and using its platform to deploy these assets. It operates its business on a global basis, leasing aircraft to customers in various geographical regions.
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