Pictet Asset Management Holding SA Sells 3,712 Shares of Aercap Holdings N.V. $AER

Pictet Asset Management Holding SA reduced its position in shares of Aercap Holdings N.V. (NYSE:AER) by 2.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 162,455 shares of the financial services provider’s stock after selling 3,712 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.10% of Aercap worth $22,258,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AER. Harbor Capital Advisors Inc. purchased a new stake in shares of Aercap during the fourth quarter worth about $27,000. Greenline Wealth Management LLC purchased a new position in Aercap during the 4th quarter valued at about $30,000. Advisory Services Network LLC bought a new position in Aercap during the 3rd quarter valued at approximately $35,000. GAMMA Investing LLC raised its position in Aercap by 36.5% during the 4th quarter. GAMMA Investing LLC now owns 359 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 96 shares during the last quarter. Finally, FIL Ltd purchased a new position in shares of Aercap during the fourth quarter valued at approximately $63,000. Institutional investors own 96.42% of the company’s stock.

Aercap Price Performance

AER opened at $142.06 on Thursday. The firm has a market cap of $23.71 billion, a PE ratio of 6.23, a P/E/G ratio of 1.02 and a beta of 0.93. The stock has a 50-day moving average price of $141.47 and a 200-day moving average price of $142.67. Aercap Holdings N.V. has a 1 year low of $105.65 and a 1 year high of $154.94. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.24 and a quick ratio of 0.24.

Aercap (NYSE:AER) last announced its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $5.39 EPS for the quarter. The company had revenue of $2.30 billion for the quarter. Aercap had a net margin of 45.22% and a return on equity of 16.01%. Sell-side analysts predict that Aercap Holdings N.V. will post 17.23 earnings per share for the current fiscal year.

Aercap announced that its Board of Directors has approved a stock repurchase plan on Wednesday, April 29th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Aercap Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Wednesday, May 13th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Aercap’s dividend payout ratio (DPR) is 7.01%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AER. Barclays upped their target price on Aercap from $162.00 to $164.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. TD Cowen raised their price objective on Aercap from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Susquehanna increased their price target on shares of Aercap from $165.00 to $170.00 and gave the stock a “positive” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their price target on shares of Aercap from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, Truist Financial upped their price objective on shares of Aercap from $159.00 to $161.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Aercap currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.12.

About Aercap

AerCap Holdings N.V. (NYSE: AER) is a global aircraft leasing and aviation finance company that acquires, leases, sells and manages commercial aircraft and engines. Its core services include operating leases, finance leases, sale-and-leaseback transactions, aircraft trading and remarketing, and asset management for airline customers. The company also provides related commercial and technical support services designed to optimize fleet utilization and residual values over the life cycle of aircraft and engines.

Operating with a broad global footprint, AerCap serves airlines and other aviation customers across North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.