Aercap Holdings N.V. (AER) Position Trimmed by TimesSquare Capital Management LLC
TimesSquare Capital Management LLC reduced its position in Aercap Holdings N.V. (NYSE:AER) by 6.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,785,500 shares of the financial services provider’s stock after selling 181,400 shares during the period. Aercap Holdings N.V. comprises approximately 0.8% of TimesSquare Capital Management LLC’s holdings, making the stock its 28th largest position. TimesSquare Capital Management LLC owned approximately 1.67% of Aercap Holdings N.V. worth $129,331,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. CIBC World Markets Inc. purchased a new position in Aercap Holdings N.V. in the 2nd quarter worth approximately $418,000. Commonwealth Bank of Australia raised its holdings in Aercap Holdings N.V. by 10.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 29,000 shares of the financial services provider’s stock worth $1,346,000 after acquiring an additional 2,800 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its holdings in Aercap Holdings N.V. by 12.3% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 919,601 shares of the financial services provider’s stock worth $42,697,000 after acquiring an additional 100,497 shares during the last quarter. Vivaldi Asset Management LLC purchased a new position in Aercap Holdings N.V. in the 2nd quarter worth approximately $6,896,000. Finally, Thompson Siegel & Walmsley LLC raised its stake in Aercap Holdings N.V. by 55.3% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 2,043,859 shares of the financial services provider’s stock valued at $94,896,000 after buying an additional 728,189 shares during the last quarter. Institutional investors own 88.94% of the company’s stock.
AER has been the subject of a number of research reports. Royal Bank Of Canada reiterated a “buy” rating and set a $77.00 target price on shares of Aercap Holdings N.V. in a research note on Friday, August 4th. Zacks Investment Research upgraded shares of Aercap Holdings N.V. from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. BidaskClub upgraded shares of Aercap Holdings N.V. from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 9th. Credit Suisse Group reiterated a “buy” rating and set a $56.00 target price on shares of Aercap Holdings N.V. in a research note on Wednesday, May 24th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $57.00 target price (up from $54.00) on shares of Aercap Holdings N.V. in a research note on Monday, May 15th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $57.45.
Shares of Aercap Holdings N.V. (NYSE:AER) traded down 1.38% during midday trading on Thursday, hitting $48.51. 170,756 shares of the stock were exchanged. Aercap Holdings N.V. has a 12 month low of $36.38 and a 12 month high of $50.90. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of 7.65 and a beta of 1.85. The firm’s 50-day moving average is $49.16 and its 200-day moving average is $46.37.
Aercap Holdings N.V. (NYSE:AER) last announced its earnings results on Thursday, August 3rd. The financial services provider reported $1.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.29. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.22 billion. Aercap Holdings N.V. had a net margin of 22.26% and a return on equity of 14.43%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.22 earnings per share. Equities research analysts predict that Aercap Holdings N.V. will post $6.08 earnings per share for the current year.
Aercap Holdings N.V. declared that its board has authorized a share repurchase program on Thursday, August 3rd that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In related news, Director Michael Gradon sold 742 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $50.16, for a total transaction of $37,218.72. Following the transaction, the director now directly owns 3,380 shares in the company, valued at $169,540.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James A. Lawrence purchased 100,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were acquired at an average price of $49.81 per share, for a total transaction of $4,981,000.00. Following the completion of the transaction, the director now directly owns 53,280 shares of the company’s stock, valued at approximately $2,653,876.80. The disclosure for this purchase can be found here.
About Aercap Holdings N.V.
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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