Bank of New York Mellon Corp Acquires 42,876 Shares of AerCap Holdings (NYSE:AER)
Bank of New York Mellon Corp lifted its holdings in shares of AerCap Holdings (NYSE:AER – Free Report) by 14.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 334,084 shares of the financial services provider’s stock after purchasing an additional 42,876 shares during the period. Bank of New York Mellon Corp owned about 0.14% of AerCap worth $18,786,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in AER. Tower Research Capital LLC TRC bought a new position in shares of AerCap during the 3rd quarter valued at $41,000. Zions Bancorporation N.A. boosted its position in AerCap by 473.7% during the 4th quarter. Zions Bancorporation N.A. now owns 763 shares of the financial services provider’s stock valued at $44,000 after buying an additional 630 shares during the period. Belpointe Asset Management LLC purchased a new stake in AerCap during the 4th quarter valued at $45,000. Cullen Frost Bankers Inc. purchased a new stake in AerCap during the 1st quarter valued at $51,000. Finally, Desjardins Global Asset Management Inc. purchased a new stake in AerCap during the 1st quarter valued at $62,000. Institutional investors own 94.15% of the company’s stock.
Wall Street Analysts Forecast Growth
AER has been the subject of several analyst reports. TD Cowen increased their price target on shares of AerCap from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. Barclays increased their price target on shares of AerCap from $77.00 to $78.00 in a research report on Wednesday, May 3rd. JPMorgan Chase & Co. raised their target price on shares of AerCap from $74.00 to $77.00 in a research report on Thursday, June 8th. Citigroup initiated coverage on shares of AerCap in a research report on Monday, May 15th. They issued a “buy” rating and a $71.00 target price for the company. Finally, TheStreet raised shares of AerCap from a “c” rating to a “b-” rating in a research report on Tuesday, May 2nd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $80.33.
Get Our Latest Analysis on AerCap
AerCap Trading Up 1.3 %
Shares of NYSE AER opened at $61.35 on Tuesday. AerCap Holdings has a 1 year low of $39.73 and a 1 year high of $69.50. The stock has a market cap of $14.57 billion, a P/E ratio of 7.95, a price-to-earnings-growth ratio of 1.23 and a beta of 1.99. The firm has a 50-day moving average of $63.16 and a 200 day moving average of $59.43. The company has a debt-to-equity ratio of 2.82, a current ratio of 0.28 and a quick ratio of 0.28.
AerCap (NYSE:AER – Get Free Report) last issued its quarterly earnings results on Monday, July 31st. The financial services provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.44. AerCap had a net margin of 25.33% and a return on equity of 14.57%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period last year, the company posted $1.91 EPS. AerCap’s revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts expect that AerCap Holdings will post 9.66 EPS for the current fiscal year.
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.
Further Reading
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