Wedge Capital Management L L P NC trimmed its position in shares of Aircastle Limited (NYSE:AYR) by 2.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 552,990 shares of the transportation company’s stock after selling 14,930 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.74% of Aircastle worth $11,757,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of Aircastle by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,620,410 shares of the transportation company’s stock valued at $114,136,000 after purchasing an additional 49,433 shares in the last quarter. Rothschild & Co. Asset Management US Inc. increased its holdings in shares of Aircastle by 3.5% during the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 1,939,992 shares of the transportation company’s stock valued at $41,244,000 after purchasing an additional 64,726 shares in the last quarter. River Road Asset Management LLC increased its holdings in shares of Aircastle by 11.1% during the 1st quarter. River Road Asset Management LLC now owns 1,808,070 shares of the transportation company’s stock valued at $36,595,000 after purchasing an additional 181,270 shares in the last quarter. Norges Bank purchased a new position in shares of Aircastle during the 4th quarter valued at approximately $16,038,000. Finally, Raymond James & Associates increased its holdings in shares of Aircastle by 6.9% during the 1st quarter. Raymond James & Associates now owns 713,873 shares of the transportation company’s stock valued at $14,449,000 after purchasing an additional 46,020 shares in the last quarter. 57.11% of the stock is owned by hedge funds and other institutional investors.
NYSE AYR traded up $0.17 on Thursday, hitting $20.35. The company had a trading volume of 2,474 shares, compared to its average volume of 256,379. The stock has a market capitalization of $1.52 billion, a P/E ratio of 6.42 and a beta of 1.58. The company’s fifty day moving average price is $20.82. Aircastle Limited has a 12-month low of $15.75 and a 12-month high of $22.27.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date is Thursday, August 29th. Aircastle’s payout ratio is 37.85%.
Aircastle declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 21st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the transportation company to buy up to 6.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Several research firms have recently weighed in on AYR. ValuEngine lowered shares of Aircastle from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research raised shares of Aircastle from a “sell” rating to a “hold” rating and set a $23.00 price target for the company in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Aircastle presently has a consensus rating of “Hold” and an average target price of $21.50.
In other news, Director Ronald Merriman sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $20.06, for a total transaction of $200,600.00. Following the completion of the sale, the director now owns 7,831 shares of the company’s stock, valued at $157,089.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is owned by corporate insiders.
Aircastle Company Profile
Aircastle Limited, through its subsidiaries, leases, finances, sells, and manages commercial flight equipment to airlines worldwide. As of December 31, 2018, its aircraft portfolio comprised 261 aircraft leased to 81 lessees located in 44 countries. Aircastle Limited was founded in 2004 and is based in Stamford, Connecticut.
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