Empyrean Capital Partners LP Sells 400,000 Shares of Aercap Holdings N.V. $AER

Empyrean Capital Partners LP lowered its holdings in Aercap Holdings N.V. (NYSE:AER) by 26.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,100,000 shares of the financial services provider’s stock after selling 400,000 shares during the quarter. Aercap accounts for about 5.5% of Empyrean Capital Partners LP’s investment portfolio, making the stock its largest position. Empyrean Capital Partners LP owned about 0.59% of Aercap worth $158,136,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AER. Mizuho Markets Cayman LP grew its holdings in Aercap by 45,615.5% in the 3rd quarter. Mizuho Markets Cayman LP now owns 3,510,491 shares of the financial services provider’s stock valued at $424,769,000 after buying an additional 3,502,812 shares during the last quarter. Norges Bank acquired a new stake in Aercap in the 4th quarter valued at approximately $352,172,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Aercap in the 4th quarter valued at approximately $282,665,000. L1 Capital International Pty Ltd lifted its position in shares of Aercap by 344.2% in the 4th quarter. L1 Capital International Pty Ltd now owns 1,527,454 shares of the financial services provider’s stock worth $219,587,000 after acquiring an additional 1,183,616 shares during the period. Finally, Mawer Investment Management Ltd. lifted its position in shares of Aercap by 56.3% in the 4th quarter. Mawer Investment Management Ltd. now owns 3,272,935 shares of the financial services provider’s stock worth $470,517,000 after acquiring an additional 1,179,241 shares during the period. Institutional investors and hedge funds own 96.42% of the company’s stock.

Aercap Price Performance

Aercap stock opened at $144.06 on Thursday. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.24 and a quick ratio of 0.24. The company has a market capitalization of $24.04 billion, a PE ratio of 6.31, a price-to-earnings-growth ratio of 1.00 and a beta of 0.93. Aercap Holdings N.V. has a one year low of $105.65 and a one year high of $154.94. The business has a 50 day simple moving average of $141.31 and a 200 day simple moving average of $142.07.

Aercap (NYSE:AER) last posted its earnings results on Tuesday, March 31st. The financial services provider reported $5.39 EPS for the quarter. The business had revenue of $2.30 billion during the quarter. Aercap had a return on equity of 16.01% and a net margin of 45.22%. On average, sell-side analysts forecast that Aercap Holdings N.V. will post 17.23 EPS for the current fiscal year.

Aercap Announces Dividend

The business also recently announced 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. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 13th. Aercap’s dividend payout ratio (DPR) is 7.01%.

Aercap declared that its board has approved a stock buyback program on Wednesday, April 29th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have commented on AER. Zacks Research downgraded Aercap from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. JPMorgan Chase & Co. raised their price objective on Aercap from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Barclays raised their price objective on Aercap from $162.00 to $164.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Morgan Stanley reduced their price objective on Aercap from $160.00 to $155.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. Finally, Truist Financial raised their price objective on Aercap from $159.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Aercap has an average rating of “Moderate Buy” and a consensus price target of $163.13.

Aercap Profile

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.